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New personal relief cap makes tax system more progressive

New cap of S$80,000 on total personal income tax reliefs will affect only 1% of taxpayers
Saturday, April 16, 2016 - 05:50

LONG OVERDUE: Most Singaporeans are supportive of the new cap and some even think that it is long overdue. It is true that a great majority of taxpayers, especially single female and male taxpayers, will not be able to hit the S$80,000 relief cap which they can claim from a total of 14 personal tax reliefs available.

A FRIEND recently lamented that she will be slapped with an "extra" income tax bill of about S$20,000 next year when the government imposes a new cap of S$80,000 on total personal income tax reliefs that a person can claim starting from the Year of Assessment 2018.

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