PSA: Income tax season has arrived.

Reply to PSA: Income tax season has arrived. on Thu, 16 Apr 2020 00:25:44 GMT

zac's mum — Thu, 16 Apr 2020 00:25:44 GMT

Coolkidsrock2\" post_id=\"1971370\" time=\"1586990522\" user_id=\"48901:

Coolkidsrock2\" post_id=\"1971369\" time=\"1586990350\" user_id=\"48901:
[quote=starlight1968sg post_id=1971367 time=1586986244 user_id=14025]
Yes but you may hv to worry that your deferred monthly payment may overlap with your new monthly payment for next year ie some months next year, you may hv to pay tax for 2019 and tax for 2020.
Noted, thanks for highlighting that. But I feel 2020 is not going to be a fantastic year, annual income will be 一言难尽

Just to double check my info is correct, there is no need to lose job or experience a monthly salary reduction to apply for the deferment right? Any employed person can apply for their consideration/approval.[/quote]Correct. U don’t need any special circumstances to apply for a straight 3-month deferment. Anybody who wants a 3-month deferment just click on a simple link to apply (after u receive your tax bill). Includes GIRO installment plans.

https://postimg.cc/zyqkkc8K

DH got a special deferment that was much longer than 3 months because he’s in aviation industry (need to email IRAS specially).

Reply to PSA: Income tax season has arrived. on Wed, 15 Apr 2020 22:42:02 GMT

Coolkidsrock2 — Wed, 15 Apr 2020 22:42:02 GMT

Coolkidsrock2\" post_id=\"1971369\" time=\"1586990350\" user_id=\"48901:

starlight1968sg\" post_id=\"1971367\" time=\"1586986244\" user_id=\"14025:
[quote=Coolkidsrock2 post_id=1971347 time=1586970831 user_id=48901]If income tax is paid in instalment via GIRO, can ask for deferment as well?
Yes but you may hv to worry that your deferred monthly payment may overlap with your new monthly payment for next year ie some months next year, you may hv to pay tax for 2019 and tax for 2020.

Noted, thanks for highlighting that. But I feel 2020 is not going to be a fantastic year, annual income will be 一言难尽[/quote]Just to double check my info is correct, there is no need to lose job or experience a monthly salary reduction to apply for the deferment right? Any employed person can apply for their consideration/approval.

Reply to PSA: Income tax season has arrived. on Wed, 15 Apr 2020 22:39:10 GMT

Coolkidsrock2 — Wed, 15 Apr 2020 22:39:10 GMT

starlight1968sg\" post_id=\"1971367\" time=\"1586986244\" user_id=\"14025:

Coolkidsrock2\" post_id=\"1971347\" time=\"1586970831\" user_id=\"48901:
If income tax is paid in instalment via GIRO, can ask for deferment as well?
Yes but you may hv to worry that your deferred monthly payment may overlap with your new monthly payment for next year ie some months next year, you may hv to pay tax for 2019 and tax for 2020.

Noted, thanks for highlighting that. But I feel 2020 is not going to be a fantastic year, annual income will be 一言难尽

Reply to PSA: Income tax season has arrived. on Wed, 15 Apr 2020 21:30:44 GMT

starlight1968sg — Wed, 15 Apr 2020 21:30:44 GMT

Coolkidsrock2\" post_id=\"1971347\" time=\"1586970831\" user_id=\"48901:

If income tax is paid in instalment via GIRO, can ask for deferment as well?

Yes but you may hv to worry that your deferred monthly payment may overlap with your new monthly payment for next year ie some months next year, you may hv to pay tax for 2019 and tax for 2020.

Reply to PSA: Income tax season has arrived. on Wed, 15 Apr 2020 17:13:51 GMT

Coolkidsrock2 — Wed, 15 Apr 2020 17:13:51 GMT

If income tax is paid in instalment via GIRO, can ask for deferment as well?

Reply to PSA: Income tax season has arrived. on Wed, 15 Apr 2020 13:02:52 GMT

MrsKiasu — Wed, 15 Apr 2020 13:02:52 GMT

zac's mum\" post_id=\"1971283\" time=\"1586941282\" user_id=\"53606:[quote=\"zac's mum\" post_id=1971283 time=1586941282 user_id=53606]
MrsKiasu\" post_id=\"1971280\" time=\"1586939545\" user_id=\"43981:
[quote=\"zac's mum\" post_id=1971278 time=1586938373 user_id=53606]
Don’t worry, still got until end of May.

I am one of those that will drag until last possible day. So busy juggling everything where got time to deal with this. My small employer doesn’t take part in the auto-inclusion scheme, so I need to manually key in the details.

When the bill comes, I will also drag until last possible day to pay. Money is very tight during this downturn. I became sole breadwinner on my tiny salary.
zac's mum luckily you have came out to work.. if you have housing loan you may consider defer the monthly payment till end of Dec.[/quote]

Yes I am lucky that I still have my part time job, as much as I complain it makes me so busy with the deadlines. I only took a small housing loan for my new house, paid using my little bit of monthly CPF, so no worries there.[/quote]having low loan commitment is a blessing esp at this trying time..

Reply to PSA: Income tax season has arrived. on Wed, 15 Apr 2020 09:01:22 GMT

zac's mum — Wed, 15 Apr 2020 09:01:22 GMT

MrsKiasu\" post_id=\"1971280\" time=\"1586939545\" user_id=\"43981:

zac's mum\" post_id=\"1971278\" time=\"1586938373\" user_id=\"53606:[quote=\"zac's mum\" post_id=1971278 time=1586938373 user_id=53606]
I hv yet to file and almost forgotten about it until I saw ngl's post
Don’t worry, still got until end of May.

I am one of those that will drag until last possible day. So busy juggling everything where got time to deal with this. My small employer doesn’t take part in the auto-inclusion scheme, so I need to manually key in the details.

When the bill comes, I will also drag until last possible day to pay. Money is very tight during this downturn. I became sole breadwinner on my tiny salary.

zac's mum luckily you have came out to work.. if you have housing loan you may consider defer the monthly payment till end of Dec.[/quote]Yes I am lucky that I still have my part time job, as much as I complain it makes me so busy with the deadlines. I only took a small housing loan for my new house, paid using my little bit of monthly CPF, so no worries there.

Reply to PSA: Income tax season has arrived. on Wed, 15 Apr 2020 08:50:01 GMT

starlight1968sg — Wed, 15 Apr 2020 08:50:01 GMT

MrsKiasu\" post_id=\"1971279\" time=\"1586939407\" user_id=\"43981:

MyPillow\" post_id=\"1971275\" time=\"1586937533\" user_id=\"70594:
[quote=starlight1968sg post_id=1971274 time=1586937119 user_id=14025]https://www.iras.gov.sg/irashome/web/pages/taxCalendarListing.aspx

File individual income tax - 31 May 2020
thks,. we filed le in early april... For Nation (used to be building)NOW is to fight virus. a lot money needed this time .

I hope I am able to help the nation next year [/quote]MKS
Pls work harder and all the rest will thank your contribution.

Reply to PSA: Income tax season has arrived. on Wed, 15 Apr 2020 08:32:25 GMT

MrsKiasu — Wed, 15 Apr 2020 08:32:25 GMT

zac's mum\" post_id=\"1971278\" time=\"1586938373\" user_id=\"53606:[quote=\"zac's mum\" post_id=1971278 time=1586938373 user_id=53606]
starlight1968sg\" post_id=\"1971276\" time=\"1586937733\" user_id=\"14025:
I hv yet to file and almost forgotten about it until I saw ngl's post
Don’t worry, still got until end of May.

I am one of those that will drag until last possible day. So busy juggling everything where got time to deal with this. My small employer doesn’t take part in the auto-inclusion scheme, so I need to manually key in the details.

When the bill comes, I will also drag until last possible day to pay. Money is very tight during this downturn. I became sole breadwinner on my tiny salary.[/quote]

zac's mum luckily you have came out to work.. if you have housing loan you may consider defer the monthly payment till end of Dec.

Reply to PSA: Income tax season has arrived. on Wed, 15 Apr 2020 08:30:07 GMT

MrsKiasu — Wed, 15 Apr 2020 08:30:07 GMT

MyPillow\" post_id=\"1971275\" time=\"1586937533\" user_id=\"70594:

starlight1968sg\" post_id=\"1971274\" time=\"1586937119\" user_id=\"14025:
https://www.iras.gov.sg/irashome/web/pages/taxCalendarListing.aspx

File individual income tax - 31 May 2020
thks,. we filed le in early april... For Nation (used to be building)NOW is to fight virus. a lot money needed this time .

I hope I am able to help the nation next year

Reply to PSA: Income tax season has arrived. on Wed, 15 Apr 2020 08:12:53 GMT

zac's mum — Wed, 15 Apr 2020 08:12:53 GMT

starlight1968sg\" post_id=\"1971276\" time=\"1586937733\" user_id=\"14025:

I hv yet to file and almost forgotten about it until I saw ngl's post

Don’t worry, still got until end of May.

I am one of those that will drag until last possible day. So busy juggling everything where got time to deal with this. My small employer doesn’t take part in the auto-inclusion scheme, so I need to manually key in the details.

When the bill comes, I will also drag until last possible day to pay. Money is very tight during this downturn. I became sole breadwinner on my tiny salary.

Reply to PSA: Income tax season has arrived. on Wed, 15 Apr 2020 08:02:13 GMT

starlight1968sg — Wed, 15 Apr 2020 08:02:13 GMT

I hv yet to file and almost forgotten about it until I saw ngl's post

Reply to PSA: Income tax season has arrived. on Wed, 15 Apr 2020 07:58:53 GMT

MyPillow — Wed, 15 Apr 2020 07:58:53 GMT

starlight1968sg\" post_id=\"1971274\" time=\"1586937119\" user_id=\"14025:

https://www.iras.gov.sg/irashome/web/pages/taxCalendarListing.aspx

File individual income tax - 31 May 2020

thks,. we filed le in early april... For Nation (used to be building)NOW is to fight virus. a lot money needed this time .

Reply to PSA: Income tax season has arrived. on Wed, 15 Apr 2020 07:51:59 GMT

starlight1968sg — Wed, 15 Apr 2020 07:51:59 GMT

https://www.iras.gov.sg/irashome/web/pages/taxCalendarListing.aspx

File individual income tax - 31 May 2020

Reply to PSA: Income tax season has arrived. on Wed, 15 Apr 2020 05:53:18 GMT

MerlionInGermany — Wed, 15 Apr 2020 05:53:18 GMT

ngl2010\" post_id=\"1971257\" time=\"1586929425\" user_id=\"40978:

MerlionInGermany\" post_id=\"1971230\" time=\"1586918605\" user_id=\"2964:
[quote=ngl2010 post_id=1971190 time=1586873369 user_id=40978]This year's tax filing for Individual has been postponed to 31 May 2020, right?
Yes, but I think you will need to request for the extension.
Same for paying the income tax, you will need to request to pay later.
Something like that, do check.

I web-chatted with IRAS. The extension to 31 May 2020 is automatically given.[/quote]Well I guess if there is no criteria to qualify for approval, it does make sense to do it automatically.

Reply to PSA: Income tax season has arrived. on Wed, 15 Apr 2020 05:43:45 GMT

ngl2010 — Wed, 15 Apr 2020 05:43:45 GMT

MerlionInGermany\" post_id=\"1971230\" time=\"1586918605\" user_id=\"2964:

ngl2010\" post_id=\"1971190\" time=\"1586873369\" user_id=\"40978:
This year's tax filing for Individual has been postponed to 31 May 2020, right?
Yes, but I think you will need to request for the extension.
Same for paying the income tax, you will need to request to pay later.
Something like that, do check.

I web-chatted with IRAS. The extension to 31 May 2020 is automatically given.

Reply to PSA: Income tax season has arrived. on Wed, 15 Apr 2020 04:46:28 GMT

MerlionInGermany — Wed, 15 Apr 2020 04:46:28 GMT

zac's mum\" post_id=\"1971237\" time=\"1586924951\" user_id=\"53606:[quote=\"zac's mum\" post_id=1971237 time=1586924951 user_id=53606]
MerlionInGermany\" post_id=\"1971230\" time=\"1586918605\" user_id=\"2964:
This year's tax filing for Individual has been postponed to 31 May 2020, right?
Yes, but I think you will need to request for the extension.
Same for paying the income tax, you will need to request to pay later.
Something like that, do check.

It is automatic, extended across the board for all individuals till 31 May 2020. No need to apply for the extension. Just see IRAS website.

Once u have filed, the bill will be sent to u later. Then if u qualify, can apply for deferment to pay the bill, including the start of any GIRO installments. DH has already applied and received the deferment approval.

Type A personality, dunno why he always rushing to file tax early. Good thing deferment approved cos he has no income for the foreseeable future.[/quote]It seems to me need to request, but it doesnt concern me, I filed within the first few days, pay my income tax in lump sum for the past decades, and have no intention to defer for this year. Therefore I did not check in details so maybe you are right. But yes, for those who would like to extend and / or defer, do check.

As for why file early, I guess filing early or late doesnt make a difference in the amount of tax payable, so just file when you have time? What’s Type A? Is that a good type?

https://postimg.cc/w1WCJ6LY

Reply to PSA: Income tax season has arrived. on Wed, 15 Apr 2020 04:29:11 GMT

zac's mum — Wed, 15 Apr 2020 04:29:11 GMT

MerlionInGermany\" post_id=\"1971230\" time=\"1586918605\" user_id=\"2964:

ngl2010\" post_id=\"1971190\" time=\"1586873369\" user_id=\"40978:
This year's tax filing for Individual has been postponed to 31 May 2020, right?
Yes, but I think you will need to request for the extension.
Same for paying the income tax, you will need to request to pay later.
Something like that, do check.

Reply to PSA: Income tax season has arrived. on Wed, 15 Apr 2020 02:43:25 GMT

MerlionInGermany — Wed, 15 Apr 2020 02:43:25 GMT

ngl2010\" post_id=\"1971190\" time=\"1586873369\" user_id=\"40978:

This year's tax filing for Individual has been postponed to 31 May 2020, right?

Yes, but I think you will need to request for the extension.
Same for paying the income tax, you will need to request to pay later.
Something like that, do check.

Reply to PSA: Income tax season has arrived. on Tue, 14 Apr 2020 14:09:29 GMT

ngl2010 — Tue, 14 Apr 2020 14:09:29 GMT

This year’s tax filing for Individual has been postponed to 31 May 2020, right?

Reply to PSA: Income tax season has arrived. on Mon, 04 Mar 2019 00:43:33 GMT

MrsKiasu — Mon, 04 Mar 2019 00:43:33 GMT

slmkhoo\" post_id=\"1900916\" time=\"1551613940\" user_id=\"28674:

starlight1968sg\" post_id=\"1900419\" time=\"1551399624\" user_id=\"14025:
Yup, I received an SMS to file tax; as usual, a painful process :moneyflies: :moneyflies:
Is the pain from the process or the amount? I e-filed my taxes for the first time this year (I confess I've let my husband file my tax for years!) and I found it quite easy. Of course, I had him sit beside me which helped a lot. He's decided that I should do it myself now in case anything happens to him.

And I didn't earn enough to need to pay anything, so the pain was my low income, not the amount of tax to pay.

same here..income dwindling..my pain is also the low..

Reply to PSA: Income tax season has arrived. on Sun, 03 Mar 2019 11:52:20 GMT

sharonkhoo — Sun, 03 Mar 2019 11:52:20 GMT

starlight1968sg\" post_id=\"1900419\" time=\"1551399624\" user_id=\"14025:

Yup, I received an SMS to file tax; as usual, a painful process :moneyflies: :moneyflies:

Is the pain from the process or the amount? I e-filed my taxes for the first time this year (I confess I've let my husband file my tax for years!) and I found it quite easy. Of course, I had him sit beside me which helped a lot. He's decided that I should do it myself now in case anything happens to him.

And I didn't earn enough to need to pay anything, so the pain was my low income, not the amount of tax to pay.

Reply to PSA: Income tax season has arrived. on Sun, 03 Mar 2019 08:11:54 GMT

Rafflesian — Sun, 03 Mar 2019 08:11:54 GMT

starlight1968sg\" post_id=\"1900419\" time=\"1551399624\" user_id=\"14025:

Yup, I received an SMS to file tax; as usual, a painful process :moneyflies: :moneyflies:

To my pleasant surprise, I find that they have simplified the process (e.g. auto-include some of our previous year's entries, reduce the submission requirements for self-employment income) and this has helped to alleviate the pain.