Advertisement
Discussion (21)
Learn how to style your text
Reply
Save
Kenneth Lou
07 Jun 2019
Co-founder at Seedly
Defintiely GIRO makes the most sense :) as it is 0% interest. So its spreading out your income tax across 12 months.
β
Oh and by the way, I think now the only bank available for this is OCBC if i am not wrong! Last i checked in April/May period.
β
More reading if you are keen to know what forms of tax deductible options there are for you here: https://blog.seedly.sg/guide-income-tax-singapore/
Reply
Save
GIRO. Installment plans at 0% interest.
Just make sure your bank account has enough funds for deduction.
Reply
Save
Chris Chin
23 Apr 2019
Senior Supply Chain at Mnc
I earned Cashback or Credits, when I used AXS Payment App to pay in one lumpsum by Credit Card, instead of by interest free GIRO instalment that don't earn anything.
https://www.iras.gov.sg/irashome/Property/Prope...
Quote...
Check with your credit card issuing bank if they offer any payment scheme to pay income tax via credit card. You can also use Mastercard (Credit or Debit cards) to pay tax on AXS e-Station over the internet or AXS m-Station mobile app.
Credit card payments are not offered by IRAS directly because of the high transaction costs charged by the credit card service providers. This is to keep the cost of collection low to preserve public funds.
Unquote...
Reply
Save
Giro. Easy and fuss free. Not much benefit though...
Read 8 other comments with a Seedly account
You will also enjoy exclusive benefits and get access to members only features.
Sign up or login with an email here
Write your thoughts
Related Articles
Related Posts
Related Products
4.2
170 Reviews
Standard Chartered Simply Cash Credit Card
Up to 1.5% on eligible spend
CASHBACK
Unlimited
CASHBACK CAP
$30,000
MINIMUM ANNUAL INCOME
4.1
161 Reviews
4.3
97 Reviews
Related Posts
Advertisement
As i am accummulating miles, i pay income tax using cardup. I need to pay 2.6% service fee, but in return, CITI Rewards Card offer 4mpd for that. When i calculated, the mile cost is 0.63 cents per mile (which is cheap to me)
β
If i pay $5,000 income tax using the cardup platform, cardup will change me 2.6% which is equivalent to $130 fee. Citi Reward card will give me 20,520 miles which I can use the miles to fly from SIN to HK via Cathay Pacific on economy cabin + Tax. I think paying $130 for this return flight is not bad.
β
This is just an example, we usually won't use mile redemption this way. But i hope this illustrate my point.