| 1 |
Declaring income from freelance, trade, business and vocation as 'Employment' or 'Other Income'
(This filing mistake has been observed to be made by:
- Taxi Drivers
- Property Agents
- Insurance Agents
- Private Tutors
- Hawkers
- Remisiers
- Commission Agents)
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A person who derives income from freelance, trade, business or vocation will be considered a self-employed person.
When e-Filing:
Declare the income as trade income under item 3 'Trade, Business, Profession or Vocation'.
When Paper Filing:
- Form B: Complete items 6 to 9 on Page 2.
- Form B1: Complete item item 3 ('Other Income') on Page 2 and item 1 'Trade, Business, Profession or Vocation' on Appendix 1.
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| 2 |
A property/Insurance agent not declaring his income in his tax return as his company is participating in the Auto-Inclusion Scheme for Employment Income. |
A property/Insurance agent earning commission income will not be in the Auto-Inclusion Scheme for Employment Income which is only applicable to employees. He has to declare his commission in the 'Trade, Business, Profession or Vocation' section.
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| 4 |
Claiming the amount contributed last year as a self-employed person in the Form B to qualify for Self-Employed CPF Relief
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CPF relief for a self-employed is automatically allowed based on information from CPF Board. You need not indicate your claim in the Form B.
Self-employed CPF relief is allowed if :
- you have declared trade income
- you are making the contribution as a self-employed person
- your contribution was made before 31 Dec of the preceding year.
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