Navigate the right GST rate to pay for transactions spanning the rate change with new mummy and her bestie! 💁♀️💡
A transaction is considered to span the GST rate change if one or two of the following events takes place wholly or partially on/after 1 Jan 2024:
- The issuance of invoice by supplier
- The receipt of payment by supplier
- The delivery of goods or performance of services
More info at go.gov.sg/irasgst-rc-consumers
#GST#GSTRateChange#skit#iras#irassg
We're from IRAS Corp Comms team, of course we need to remind you to file your taxes by 18 Apr 😊🤭
Follow us on TikTok: www.tiktok.com/@irassg
#taxseason2024#gigworkers#ofcoursetrend#iras#irassg
🎵 We carry through, do what we need to do~ Yes, I’m a GST-registered business just like you 🎵
Here are 3 key things GST-registered businesses need to prepare for the 2024 GST rate change:
1) Update systems to incorporate 9% GST from 1 Jan 2024
2) Prepare price displays to reflect 9% GST from 1 Jan 2024
3) Understand transitional rules to apply the correct GST rate for transactions spanning 1 Jan 2024
Learn more at go.gov.sg/irasgst-rc-businesses
#GST#GSTRateChange#iamjustlikeyou#iras#irassg
Know an Asian mum (or dad) who needs help with tax filing? Share this video with them! 👩🏻👨🏻
Follow us on TikTok: www.tiktok.com/@irassg
#taxseason2024#taxtips#pov#skit#asianmums#iras#irassg
Is delulu the solulu? At least, she gained some tax tips on Supplementary Retirement Scheme (SRS) contributions! 💰🤣
Grow your savings by contributing to your SRS Account today! You will be eligible for tax reliefs in Year of Assessment 2024 if you make contribution to your SRS Account by 31 Dec 2023*.
SRS contributions are capped yearly at $15,300 for Singapore Citizens and Permanent Residents and $35,700 for foreigners.
Do note that there is an overall cap of $80,000 on the total amount of all tax reliefs that can be claimed (including any relief on SRS contributions) for a year.
Details and qualifying conditions:
https://www.iras.gov.sg/taxes/individual-income-tax/basics-of-individual-income-tax/special-tax-schemes/srs-contributions
*You are advised to check with your SRS bank operator about the cut-off date for SRS contributions.
#taxtips#retirement#invest#skit#girlsvsguys#irassg#iras
Spread some year-end cheer while saving on your taxes! 🥳✨
Enjoy tax deductions of 2.5 times the qualifying donation amount in Year of Assessment 2024 when you donate to any approved Institution of a Public Character (IPC) by 31 Dec 2023.
You will not need to declare the donation amount in your Income Tax Return as tax deductions for qualifying donations will be automatically reflected in your tax assessments based on information from the IPC.
Details and qualifying conditions:
https://www.iras.gov.sg/taxes/other-taxes/charities/donations-tax-deductions
#taxtips#donations#spreadjoy#seasonsgreetings#skit#irassg#iras
#TaxTip Grow your savings by contributing to your Supplementary Retirement Scheme (SRS) Account! You will be eligible for tax reliefs in Year of Assessment 2023 if you make contribution to your SRS Account by 31 Dec 2022.
SRS Contributions are capped yearly at $15,300 for Singapore Citizens and Permanent Residents and $35,700 for foreigners.
Do note that there is an overall cap of $80,000 on the total amount of all tax reliefs that can be claimed (including any relief on SRS contributions) for a year.
Details and qualifying conditions: https://www.iras.gov.sg/taxes/individual-income-tax/basics-of-individual-income-tax/special-tax-schemes/srs-contributions
#iras#sg#taxes#taxtip#retirement#invest#reliefs
#TaxTip It is never too early to prepare for your (and your loved ones’) retirement needs. Top up your own and/or those of your family members’ CPF Special/Retirement or Medisave Account by 31 Dec 2022 to enjoy the CPF Cash Top-up Relief in Year of Assessment 2023!
Do note that there is an overall cap of $80,000 on the total amount of all tax reliefs that can be claimed (including any relief on CPF cash top-ups) for a year.
Details and qualifying conditions: www.iras.gov.sg/taxes/individual-income-tax/basics-of-individual-income-tax/tax-reliefs-rebates-and-deductions/tax-reliefs/central-provident-fund-(cpf)-cash-top-up-relief
#iras#sg#taxes#taxtip#cpf#relief#retirement
#TaxTip Enjoy tax deductions of 2.5 times the qualifying donation amount in Year of Assessment 2023 when you donate to any approved Institution of a Public Character (IPC) by 31 Dec 2022!
You will not need to declare the donation amount in your income tax return as tax deductions for qualifying donations will be automatically reflected in your tax assessments based on information from the IPC.
Details and qualifying conditions: https://www.iras.gov.sg/taxes/other-taxes/charities/donations-tax-deductions
#iras#sg#taxes#taxtip#reliefs#donate#donations
Yasss to being a financially savvy kween! 🙌👑 It’s never too soon to secure the bag for your (and your fam’s) retirement 🌟
Top up your own and/or those of your family members’ CPF Special/Retirement or Medisave Account by 31 Dec 2023 to enjoy the CPF Cash Top-up Relief in Year of Assessment 2024.
Do note that there is an overall cap of $80,000 on the total amount of all tax reliefs that can be claimed (including any relief on CPF Cash Top-ups) for a year.
Details and qualifying conditions:
https://www.iras.gov.sg/taxes/individual-income-tax/basics-of-individual-income-tax/tax-reliefs-rebates-and-deductions/tax-reliefs/central-provident-fund-(cpf)-cash-top-up-relief
#taxtips#retirement#cpf#skit#asianmums#giftideas#irassg#iras
Delivery workers, we’re not gatekeeping this piece of good news! 🤩 Head over to go.gov.sg/iras-fedr-seps to find out more!
#taxseason2024#taxtips#pov#skit#bro#gatekeep#iras#irassg#deliveryheroes