facebookWhat is the best way to pay income tax? - Seedly


07 Jun 2019



What is the best way to pay income tax?

Discussion (21)

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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)


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.


This is just an example, we usually won't use mile redemption this way. But i hope this illustrate my point.

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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.


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.


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/

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GIRO. Installment plans at 0% interest.

Just make sure your bank account has enough funds for deduction.

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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.



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.


Giro. Easy and fuss free. Not much benefit though...

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