Asked by Anonymous
Asked on 04 Nov 2018
Tax Relief, just mean reduction of assessable income. It is not a tax rebate.
If you pay $100 to your SRS, you only reduce your tax by $2. This is because your income tax rate is only 2%.
Did u mean u paid $100 for each tax year? That means your taxable income is $25,000. You will need to get $5k in tax relief to negate the $100. That means you have to topup $5000 into your srs/cpf special account.