I Found ALL THE INCOME TAX RELIEFS To Save You Money! Updated 2024

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Күн бұрын

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@joshconsultancy Ай бұрын

Not just building and managing an investment portfolio 🌟 Tax planning, CPF, SRS and CPF life understand are key areas I look when I take on a retirement planning case. 👍🏻 ►‌ www.theastuteparent.com/josh-tan ENGAGE Josh Tan on a fee for full retirement planning NOW - Hear the IMPROVEMENTS you can make IMMEDIATELY 👏🏻

@dancingnachos3634 Ай бұрын

Thanks for good advice

@joshconsultancy Ай бұрын

No probs, share with a friend k

@jesslynnsh Ай бұрын

Thank you!

@teoteckheong709 24 күн бұрын

Can we get tax relief on RSTU to ERS after 55, or up to FRS only?

@joshconsultancy 24 күн бұрын

Only FRS

@Andy-i2y Ай бұрын

hi Josh, do i need to do anything in the IRAS website after topping up CPF and SRS, in order to reflect the tax relief ?

@joshconsultancy Ай бұрын

No need. Automatic 👌🏻

@Andy-i2y Ай бұрын

@ thanks !

@zengmingde Ай бұрын

Hi josh, your video 2 years ago mentioned a section in the cpf website where self employed can see how much more they can vc to reach the 37k... Ive tried to find it this year and it seems to be missing. Is that page still available?

@joshconsultancy Ай бұрын

Still can! I think I saw it when I was topping up recently

@hello12347-x Ай бұрын

Hi Josh, can I check if there is any conflict between "CPF relief for employees", "CPF relief (compulsory and voluntary medisave contribution)" and "CPF cash top up relief" or they are all sepeartely calculated. E.g. if under "CPF relief for employees" I am already making compulsory CPF contribution will I still be eligible for the "CPF cash top up relief" up to $8000 additionally for myself. Thanks.

@joshconsultancy Ай бұрын

Hi they are separate. Cash top up relief limit is FRS is SA account. Not impacted by relief for employees

@hello12347-x Ай бұрын

@@joshconsultancy 1. Isit right to say that "voluntary MediSave contributions" is now a part of "Central Provident Fund (CPF) Cash Top-up Relief" capped at 8k for individual? 2. And assuming im a employed person with income exceeding the 6k plus cap making compulsory contribution, I can still tap on the above full 8k tax relief and not limited by my existing compulsory contribution? thank you in advance!

@joyceho8548 Ай бұрын

If my parents have maxed out their FRS and have the BHS, does that mean I will not be eligible for Tax relief even if I top up for them?

@joshconsultancy Ай бұрын

In my understanding not eligible alr

@woonty9981 Ай бұрын

Hi Josh I'm self-employed Remembered 1 year I top-up Medisave & no longer able to VC the full $37,740 You mean now can?

@joshconsultancy Ай бұрын

Hi since last yr I think can already. 37740 voluntary for self employed is separate from 8000 ma/sa

@p2246298 Ай бұрын

If I and my wife were to top up $8,00 each my mother's Retirement Account (i.e my mother's RA will increase by $16,000), will both of us each get the $8,000 tax relief, assuming my mother's RA is still below the RA maximum balance ?

@joshconsultancy Ай бұрын

Good question and in my opinion yes. Both can get But do double check with IRAS to be 100% sure =) Anyone who has tried and succeeded before let us know in comments

@chekseng80 Ай бұрын

No support given to single father due to involuntarily. They should extend working mum's reliefs to this group too.

@joshconsultancy Ай бұрын

Valid point

@meow-ks5hq Ай бұрын

as a self employed, if I top up the cpf to 37k, can I select all to go into OA? or is it subject to the same split as normal, per my age group? thanks in advance!

@joshconsultancy Ай бұрын

Hi has to be all accounts split 👌🏻

@specialgreat Ай бұрын

Self top up cpf will distribute to OA, SA and MA and if your SA and MA already full, then technically your MA contribution will go to OA... So, in short, ur self top up will distribute to OA and SA