| 1. |
Earned Income Relief |
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To provide recognition for individuals
who receive income from work |
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i) Below 55 years old |
S$1000 |
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ii) 55 to 59 years old |
S$3000 |
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iii) 60 years old and above |
S$4000 |
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Earned Income Relief for Handicapped
Taxpayer |
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i) Below 55 years old |
S$2000 |
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ii) 55 to 59 years old |
S$5000 |
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iii) 60 years old and above |
S$6000 |
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| 2. |
Wife Relief |
S$2000 |
To support family formation. |
| 3. |
Handicapped Spouse Relief |
S$3500 |
To support family formation and
provide recognition to caring for handicapped spouses. |
| 4. |
Qualifying Child Relief (QCR) |
S$4000 |
To provide recognition for families’
efforts in raising their children. |
| 5. |
Handicapped Child Relief (HCR) |
S$5500 |
To provide recognition to families’
efforts in caring for handicapped children. |
| 6. |
Working Mother's Child Relief
(WMCR) |
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To support working mothers in
continuing to work and to recognise the challenges these mothers face
in balancing work and family. |
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Qualifying Singaporean child who
is: |
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1st child |
15% of mother's earned income |
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2nd child |
20% of mother's earned income
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3rd child |
25% of mother's earned income |
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4th child |
25% of mother's earned income |
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5th child and beyond |
25% of mother's earned income |
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- WMCR plus QCR/HCR capped at $50,000 per child
- Cumulative WMCR for all qualifying children capped at 100%
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| 7. |
Aged Parent Relief |
S$3,500 each
(maximum of 2 dependents)
S$5,000 for those who live with the parents in the same household |
To promote filial piety. |
| 8. |
Handicapped Parent Relief |
$6,500 each (maximum
of 2 dependents)
S$8,000 for those who live with the parents in the same household |
To provide recognition to individuals
maintaining their handicapped parents. |
9. |
Grandparent Caregiver Relief |
S$3000 for 1
parent/ parent-in-law/ grandparent/ grandparent-in-law or ex-spouse’s
parent/grandparent
(to be claimed by working mothers) |
To provide recognition that grantparents
may play a role in helping working mothers take care of their children. |
| 10. |
Handicapped Sibling Relief |
S$3500 each |
To provide recognition to individuals
maintaining their handicapped siblings. |
| 11. |
Relief for approved pension/provident
fund contribution & life insurance premium |
If compulsory
CPF contribution <S$5,000 then max S$5,000 claim for insurance
premium + compulsory CPF contribution. Compulsory CPF contributions
are fully tax-exempt.
7% of the capital sum assured under life insurance policy. (However,
if total CPF contributions exceed $5,000, you will not get any relief
for the insurance premium paid.)
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To provide support of individuals
saving for their retirement. |
| 12. |
Relief for CPF contribution by
self-employed persons |
33% of income from
trade, business, profession or vocation, subject to a cap of $25,245
(wef YA2007) |
To encourage self-employed persons
to save for their retirement. |
| 13. |
Relief for cash top-up of own,
parents', grandparents', non-working siblings' and non-working spouse's
CPF Retirement Account |
Maximum S$7,000 a
year |
To encourage Singaporeans to save
for their retirement and that of their dependents. |
| 14. |
Relief for Course Fees |
S$3,500 (wef YA2004) |
To encourage individuals to upgrade
themselves. |
| 15. |
Foreign Maid Levy Relief |
Twice the annual levy
in respect one foreign maid
(subject to maximum of $7,080 for YA2007) |
To encourage married women to
continue working and raise families. |
| 16. |
Relief for NSmen |
Active: S$3,000 (wef
YA2003)
Inactive:S$1,500 (wef YA2003)
Key Appointment Holders will receive an additional $2000 in relief
with effect from YA2007 |
To recognise the contributions
of NSmen and NS Key Appointment Holders to Total Defence. |
| 17. |
Relief for Wives of NSmen |
S $750
(wef YA2003) |
To recognise the support given
by wives to their husbands serving as NSmen. |
| 18. |
Relief for Parents of NSmen |
S $750
(wef YA2003)
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To recognise the support given
by parents to their children serving as NSmen. |
| 19. |
Parenthood Tax Rebate (PTR) |
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To encourage couples to have more
Singaporean children |
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For all Singaporean children born
or legally adopted on or after 1 Jan 2008: |
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1st child |
S$5,000 |
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2nd child |
S$10,000 |
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3rd child |
S$20,000 |
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4th child |
S$20,000 |
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5th child and beyond |
S$20,000 per child |
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