What would you say is the fastest way to reduce income tax?

Given that the tax season is coming soon again, wondering how I can cut as much tax as possible.

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Zac

24 Jan 2021

Noob at Idiots Invest

Parental relief also helps. You can get relief for up to $7k I believe. And if you give your parents allowance anyway, might as well declare it and get tax relief.

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Musyaffaq

31 Dec 2020

Business Studies Graduate at Ngee Ann Poly

Donations? Amount deductible is 2.5 times the amount you donate. While saving money, you also doing good deed👍🏽

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Hi I'm a fresh grad, and clueless about income tax... I heard that there are ways to optimise or reduce income tax? Any gurus care to share?

What are the possible ways in 2023 to a) reduce income tax thru VC to CPF and 2) max out CPF VC for self and family (without income tax reduction)?

I started work in January this year. When will I need to pay tax? If I would like to use the SRS scheme to reduce my taxable income, when would I need to do this by?

Hi, will appreciate some advise Earn: 130k/yr NSMen Married with no child Rent Unit I been paying about 10k in income tax, if there any way to further reduce it? should I top up SRS and then CPF?

Since income tax is so high, if we look at it this way, bonuses just cover the income tax doesn't it?

Hi I'm a fresh grad, and clueless about income tax... I heard that there are ways to optimise or reduce income tax? Any gurus care to share?

What are the possible ways in 2023 to a) reduce income tax thru VC to CPF and 2) max out CPF VC for self and family (without income tax reduction)?

I started work in January this year. When will I need to pay tax? If I would like to use the SRS scheme to reduce my taxable income, when would I need to do this by?

Hi, will appreciate some advise Earn: 130k/yr NSMen Married with no child Rent Unit I been paying about 10k in income tax, if there any way to further reduce it? should I top up SRS and then CPF?

Since income tax is so high, if we look at it this way, bonuses just cover the income tax doesn't it?