>> ASIAONE / BUSINESS / NEWS / MY MONEY / STORY
Budget 2010: New tax reliefs
Mon, Feb 22, 2010
AsiaOne

At his speech outlining Singapore's Budget for 2010, Finance Minister announced new tax reliefs for Singaporeans.

Read all the stories:
» AsiaOne Special: Singapore Budget 2010
  • Increase in parent relief, as well as an enhancement of the relief for taxpayers who are taking care of handicapped parents and grandparents.
  • Expansion of wife relief to spouse relief. Wives who are taxpayers can claim a a spouse relief of $2,000, similar to the current scheme for husbands. This will help families where the wife is the breadwinner.
  • Enhancing dependant reliefs.The income threshold for dependant-related reliefs will be increased from $2,000 to $4,000. his increase recognises taxpayers' efforts in supporting family members who are genuinely dependant, while giving them the flexibility to do some incidental work.
  • Increased course fee relief. This will be increased from $3,500 to $5,500 with effect from Year of Assessment 2011.
  • Support for charitable giving. The 250% tax deduction for donations to Institutions of Public Character (IPCs) and other approved institutions will be extended for an additional year.

 

Bookmark and Share
 

 
STORY INDEX
 
  Budget 2010: Additional special top-ups to support households
   
 
  Budget 2010: Including All Singaporeans in Growth part 2
   
 
  Budget 2010: New tax reliefs
   
 
  Budget 2010: Property tax system to be changed
   
 
  Budget 2010: Nurturing startups and SMEs
   
 
  Budget 2010: Including All Singaporeans in Growth part 1
   
 
  Budget 2010 to help local players grow into global companies
   
 
  Budget 2010: Growing Globally Competitive Companies
   
 
  Budget 2010: Investing in R&D
   
 
  Budget 2010: Enhancing land productivity
   
>> RELATED STORY
Budget 2010: Additional special top-ups to support households
Budget 2010: Including All Singaporeans in Growth part 2
Budget 2010: Property tax system to be changed
Budget 2010: Nurturing startups and SMEs
Budget 2010: Including All Singaporeans in Growth part 1
We welcome contributions, comments and tips.
a1admin@sph.com.sg
Search AsiaOne: