👩🏻❤️💋👨🏻 If you are married, you may be eligible to claim for the Spouse/Handicapped Spouse Relief or NSman Relief to lower your tax bill this tax season! #TaxSeason2024
Learn more about tax savings for married couples and families at https://www.iras.gov.sg/taxes/individual-income-tax/basics-of-individual-income-tax/tax-reliefs-rebates-and-deductions/tax-savings-for-married-couples-and-families
File your taxes at myTax Portal by 18 Apr: https://mytax.iras.gov.sg/
Learn more about tax savings for married couples and families at https://www.iras.gov.sg/taxes/individual-income-tax/basics-of-individual-income-tax/tax-reliefs-rebates-and-deductions/tax-savings-for-married-couples-and-families
File your taxes at myTax Portal by 18 Apr: https://mytax.iras.gov.sg/
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🚨 If you receive an email purportedly from IRAS claiming that prospective tenants are required to pay a “validation deposit” to their landlords’ accounts, do not make payment to the scam account.
This is a scam where fraudsters spoof IRAS’ identity as a tax authority to trick recipients who are prospective tenants to make payment so that their rental unit can be successfully registered. The scam letter, sent together with a scam invoice, instructs recipients to pay a “validation deposit’ to a designated bank account masquerading as the landlord’s bank account. The letter further claims that the “validation deposit” will be refunded upon “successful registration” of the tenant.
This is a scam where fraudsters spoof IRAS’ identity as a tax authority to trick recipients who are prospective tenants to make payment so that their rental unit can be successfully registered. The scam letter, sent together with a scam invoice, instructs recipients to pay a “validation deposit’ to a designated bank account masquerading as the landlord’s bank account. The letter further claims that the “validation deposit” will be refunded upon “successful registration” of the tenant.
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Although landlords may ask tenants to make a downpayment or security deposit to secure their rental property, such payments should be made directly to their landlords as this is a private arrangement between the landlord and tenant. IRAS does not require tenants to be registered or validated with us, and we will not send letters to either tenants or landlord instructing that a “validation deposit” is to be made to a designated bank account.
Members of the public are advised to ignore scam letter and not to make payment. Do not provide any personal, credit card or bank account details, make payments or follow any instructions in the email. Those affected by the scam are advised to lodge police reports.
👉🏼 Learn how IRAS protects you from scams.
Members of the public are advised to ignore scam letter and not to make payment. Do not provide any personal, credit card or bank account details, make payments or follow any instructions in the email. Those affected by the scam are advised to lodge police reports.
👉🏼 Learn how IRAS protects you from scams.
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Are you a working mother? 👩👧👦 Find out more about the tax reliefs available to you and claim them when filing your taxes to lower your tax bill. #TaxSeason2024
Learn more about tax savings for married couples and families at https://www.iras.gov.sg/taxes/individual-income-tax/basics-of-individual-income-tax/tax-reliefs-rebates-and-deductions/tax-savings-for-married-couples-and-families
File your taxes at myTax Portal by 18 Apr: https://mytax.iras.gov.sg/
Learn more about tax savings for married couples and families at https://www.iras.gov.sg/taxes/individual-income-tax/basics-of-individual-income-tax/tax-reliefs-rebates-and-deductions/tax-savings-for-married-couples-and-families
File your taxes at myTax Portal by 18 Apr: https://mytax.iras.gov.sg/
A company’s appeal case involving $1.3 million in GST refunds has been dismissed by the High Court. This is the first time a case on denial of GST input tax was brought before the High Court.
👉🏼Full story at https://www.straitstimes.com/singapore/courts-crime/high-court-dismisses-appeal-by-firm-whose-claim-for-13m-in-refunds-was-denied-by-iras
👉🏼Full story at https://www.straitstimes.com/singapore/courts-crime/high-court-dismisses-appeal-by-firm-whose-claim-for-13m-in-refunds-was-denied-by-iras
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A 45-year old sole director and shareholder of a Singapore-incorporated company has been charged on 9 April 2024 for his suspected involvement in perpetuating a GST Missing Trader Fraud involving approximately $252 million in fictitious sales.
👉 Full story at https://www.straitstimes.com/singapore/courts-crime/man-charged-over-alleged-links-to-gst-fraud-involving-bogus-sales-of-252m
👉 Media release at https://www.iras.gov.sg/news-events/newsroom/man-charged-for-perpetuating-a--252-million-gst-missing-trader-fraud
👉 Full story at https://www.straitstimes.com/singapore/courts-crime/man-charged-over-alleged-links-to-gst-fraud-involving-bogus-sales-of-252m
👉 Media release at https://www.iras.gov.sg/news-events/newsroom/man-charged-for-perpetuating-a--252-million-gst-missing-trader-fraud
The Straits Times
Man charged over alleged links to GST fraud involving bogus sales of $252m
Tan Tuan Heng is accused of offences including cheating and tax evasion. Read more at straitstimes.com.
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Does Fiona need to declare the non-monetary payments/ benefits from advertising beauty products on her YouTube channel? 🤔 #TaxSeason2024
As a YouTuber, Fiona receives sponsorship products and services regularly. These products and services sometimes exceed $100 and may not be given on an ad-hoc basis for one-off consumption or testing. If the value of a product/ service exceeds $100, the full value of the sponsorships should be declared and be subjected to tax. The $100 threshold does not apply to non-monetary benefits if it is a recurring supply provided over a period of time.
As a YouTuber, Fiona receives sponsorship products and services regularly. These products and services sometimes exceed $100 and may not be given on an ad-hoc basis for one-off consumption or testing. If the value of a product/ service exceeds $100, the full value of the sponsorships should be declared and be subjected to tax. The $100 threshold does not apply to non-monetary benefits if it is a recurring supply provided over a period of time.
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💡If Fiona’s total annual net trade income exceeded $6,000 or total annual taxable income exceeded $22,000 last year, she will need to file a tax return by 18 April. The non-monetary payments/ benefits earned from her sponsorships should be reported under "Trade, Business, Profession or Vocation" in her individual Income Tax Return.
👉 Find out more about the tax obligations of online sellers and service providers at go.gov.sg/tax-guide-online-sellers-service-providers
⏰ It’s tax season! File your taxes at myTax Portal by 18 Apr: https://mytax.iras.gov.sg/
👉 Find out more about the tax obligations of online sellers and service providers at go.gov.sg/tax-guide-online-sellers-service-providers
⏰ It’s tax season! File your taxes at myTax Portal by 18 Apr: https://mytax.iras.gov.sg/
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IRAS | Tax guide for online sellers and service providers
Income from online activities that are undertaken on your own account or on behalf of third parties for a profit is taxable.
The Individual Income Tax filing deadline of 18 Apr is just a week away.
👋🏻 First-time taxpayers can refer to this useful guide, covering all you need to know about filing your taxes, reliefs and deductions you might be eligible for, and common mistakes to avoid.
👋🏻 First-time taxpayers can refer to this useful guide, covering all you need to know about filing your taxes, reliefs and deductions you might be eligible for, and common mistakes to avoid.
The Straits Times
askST: New to filing income tax? Here’s a guide
The deadline for those filing their income tax returns electronically is April 18. Read more at straitstimes.com. Read more at straitstimes.com.
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👀 Spot the signs of a phishing email scam.
Don’t hand over your personal data, bank account or credit card details via clickable links sent by emails. Updates and transactions must be done on myTax Portal (mytax.iras.gov.sg).
Always check the email address even though the sender ID shows ‘IRAS’. Sender ID can be spoofed to make the email looks legitimate. A legitimate email address from IRAS ends with “@iras.gov.sg”.
👉🏼 Learn how IRAS protects you from scams
Don’t hand over your personal data, bank account or credit card details via clickable links sent by emails. Updates and transactions must be done on myTax Portal (mytax.iras.gov.sg).
Always check the email address even though the sender ID shows ‘IRAS’. Sender ID can be spoofed to make the email looks legitimate. A legitimate email address from IRAS ends with “@iras.gov.sg”.
👉🏼 Learn how IRAS protects you from scams
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Changes to your tax bill have to be made within 30 days of getting it 👋🏻
Follow us on TikTok for more tax tips
Follow us on TikTok for more tax tips
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GST-registered businesses will be required to use InvoiceNow solutions to transmit invoice data directly to IRAS for tax administration. This will be done in phases, starting with voluntary early adoption from May 2025. The announcement was made by Mr Dennis Lui, IRAS’ Deputy Commissioner (Indirect Taxes, Law & Investigation Group), at IMDA’s InvoiceNow Industry Day.
To allow businesses sufficient lead time to prepare, the requirement will be implemented progressively as follows:
- From 1 May 2025, for voluntary early adoption by GST-registered businesses, as a soft launch.
- From 1 November 2025, for newly incorporated companies that register for GST voluntarily.
- From 1 April 2026, for all new voluntary GST-registrants.
Businesses can seek support from IRAS and IMDA in their adoption of InvoiceNow.
For more information, please visit IRAS webpage here or read our press release here.
To allow businesses sufficient lead time to prepare, the requirement will be implemented progressively as follows:
- From 1 May 2025, for voluntary early adoption by GST-registered businesses, as a soft launch.
- From 1 November 2025, for newly incorporated companies that register for GST voluntarily.
- From 1 April 2026, for all new voluntary GST-registrants.
Businesses can seek support from IRAS and IMDA in their adoption of InvoiceNow.
For more information, please visit IRAS webpage here or read our press release here.
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Last call to file your taxes by 18 Apr! ⏰
Haven’t filed your taxes? Do it now at myTax Portal to avoid late filing penalties and last-minute rush.
More on #TaxSeason2024 at go.gov.sg/taxseason2024
File your taxes at myTax Portal by 18 Apr: mytax.iras.gov.sg
Haven’t filed your taxes? Do it now at myTax Portal to avoid late filing penalties and last-minute rush.
More on #TaxSeason2024 at go.gov.sg/taxseason2024
File your taxes at myTax Portal by 18 Apr: mytax.iras.gov.sg
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Beware of tax refund scams! ⚠️ Learn more at go.gov.sg/iras-scams
#irassg #scamalert #taxrefunds #scamadvisory
Follow us on TikTok!
#irassg #scamalert #taxrefunds #scamadvisory
Follow us on TikTok!
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