The Inland Revenue Authority of Singapore (IRAS) reminds all taxpayers, including sole-proprietors and partners, to file their income tax returns from 1 Mar to 18 Apr 2019. For the Year of Assessment 2019, all tax resident individuals will receive an income tax rebate of 50% of tax payable, up to a cap of $200. IRAS has also introduced several features to improve the tax filing experience this year.

Simplifying Tax Filing Through Digitalisation

^NewPre-filling and Auto-Apportionment of Child Relief

This year, parents of children born in 2018 will enjoy the convenience of having their child relief¹ automatically pre-filled in their electronic tax returns. With this pre-filling initiative, IRAS aims to simplify tax filing for taxpayers.

For their convenience, the child relief of $4,000 will be pre-filled on a 50:50 basis between the parents in their electronic tax returns, unless they have informed IRAS of their preferred sharing basis. Parents can always amend their allocation basis when filing their electronic tax returns.

^NewSimplifying Tax Filing for Taxi and Private Hire Car Drivers

To ease tax filing for taxi and private hire car drivers, IRAS will automatically compute deduction of 60% of gross driving income as deemed business expense from YA 2019 once they indicate their nature of business (i.e. private hire car/taxi driver) in their electronic tax returns.

Alternatively, drivers may choose to claim tax deductions based on the actual amount of car expenses incurred by amending the computed information in their electronic tax returns. Drivers who do so must retain all records for 5 years and provide IRAS with the relevant supporting documents when requested.

Drivers who opted to have IRAS pre-fill their income will be able to view and verify their pre-filled income and tax deductions at myTax Portal, and declare any other sources of income (e.g. rental income). The pre-filled information can be amended where necessary.

The pre-filling of self-employed income information was an initiative first introduced in 2015 for individual commission earners such as property and insurance agents. IRAS will continue to collaborate with industry stakeholders to bring about greater convenience in tax filing for more self-employed taxpayers.

File your income tax early to avoid the last-minute rush or late filing penalties

File your taxes on-the-go at myTax Portal in March 2019 to avoid the last-minute rush of late filing penalties. For more information on income tax filing matters, visit www.iras.gov.sg/irashome/TaxSeason2019/, and stay up-to-date by following us on www.facebook.com/irassg or www.twitter.com/iras_sg.

Need assistance?

Contact IRAS via:

• AskJamie, your virtual assistant on tax filing matters
• Call 1800 356 8300 or chat online (Mondays to Fridays, 8am to 5pm)
• Log on to myTax Portal to send an email
• Alternatively, make an appointment with IRAS (at least 2 working days in advance)

Leveraging Digital Payment Modes

With cashless payments gaining momentum in Singapore, taxpayers are encouraged to use cashless or electronic payment modes such as GIRO. Taxpayers who pay their taxes via GIRO may enjoy up to 12 monthly interest-free instalments.

Apart from stamp duty payments, cheque collections for taxes will no longer be accepted at all SingPost branches from 1 Mar 2019. 

Taxpayers may apply for GIRO via:

• myTax Portal (for DBS/POSB and OCBC customers); or
• Internet Banking (for DBS/POSB, OCBC and UOB customers); or
• AXS stations (for DBS/POSB customers) 
• GIRO application form on IRAS Website (for customers of all other banks)

   

Inland Revenue Authority of Singapore 

¹ Parents of newborn children can enjoy tax savings if they are eligible for child relief. Child relief can be shared between parents in any proportion.