Tax Season 2020 – File Taxes Early from 1 Mar

27 Feb 2020

Taxpayers can use digital channels for filing assistance

27 Feb 2020:  The Inland Revenue Authority of Singapore (IRAS) reminds all taxpayers, including sole-proprietors and partners, to file their income tax returns online at myTax Portal from 1 March to 18 April 2020. 

Who Needs to File Tax?

Taxpayers who receive notifications from IRAS to file their Income Tax returns should e-file by 18 April 2020. Taxpayers are encouraged to file their returns early to avoid the last-minute rush and late filing penalties. For quick access to myTax Portal, taxpayers can log in securely with a tap from the SingPass Mobile app, without having to enter their passwords.

This year, about 1.67 million taxpayers are expected to benefit from IRAS’ No-Filing Service (NFS) scheme. Taxpayers on the NFS scheme do not need to file a tax return, unless they wish to make any adjustments to their income details or relief claims. To file a tax return, taxpayers can log in to myTax Portal. Otherwise, taxpayers on the NFS scheme will receive their tax bills (Notice of Assessment) from end April 2020. They can still make amendments to their income information and tax relief claims if necessary through the “Object to Assessment” e-Service. 

Simplifying Tax Filing for Commission Agents

Self-employed commission agents, such as self-employed insurance and property agents, with an annual gross commission income of up to $50,000 can claim a deemed amount of expenses based on 25% of their gross commission income. If the income of these commission agents has been pre-filled under the Pre-filling Scheme, the 25% deemed expense will be automatically shown in their electronic tax returns. Where their income has not been pre-filled, they still have the option to claim the 25% deemed expense during e-Filing. The deduction will be automatically computed once they indicate their nature of business in their electronic tax returns. 

Alternatively, self-employed commission agents with an annual gross commission income of up to $50,000 may choose to claim tax deductions based on the actual amount of allowable business expenses incurred. They can do so by amending the computed information in their electronic tax returns. They will have to retain their expense records for 5 years and provide IRAS with the relevant supporting documents upon request. 

Tax Filing Assistance

Given the COVID-19 situation, taxpayers requiring tax filing assistance are strongly advised to contact IRAS through the following channels instead of visiting IRAS:

Taxpayers who wish to seek assistance at IRAS are advised to make an appointment at least 2 working days in advance. 

Taxpayers could also visit the Our Tampines Hub Integrated Public Service Centre, which will be providing assistance on Income Tax e-filing (Mondays to Sundays, 9 a.m. to 10 p.m., except Public Holidays) starting this year.

IRAS has made available online tax filing video guides, including one tailored for the self-employed including taxi drivers and private-hire car drivers

Access to Revenue House Internal Driveway via Thomson Road Closed

Visitors to IRAS are advised to take public transportation. The access road to Revenue House Internal Driveway (via Thomson Road) is temporarily closed to traffic due to roadworks. Vehicles can only access the Revenue House Internal Driveway via Gilstead Road/Gentle Road. As traffic congestion is expected, motorists are advised to avoid the vicinity. 

Update Contact Details to Receive e-Notifications from IRAS

Taxpayers are encouraged to update their contact information and email addresses in order to receive IRAS alerts to view digital notices such as tax bills. Taxpayers may update their contact details by visiting mytax.iras.gov.sg - Account > Update Contact Details. 

For more on tax filing, visit www.iras.gov.sg/irashome/TaxSeason2020.

 

Inland Revenue Authority of Singapore