Time to file your tax! But before you do that, do you know of these reliefs for parents?
If you are a Stay-at-home Mothers (SAHM)
What: Spouse / Handicapped Spouse Relief
Who can claim: Husband
Eligibility: Your earnings must be less than $4,000 in the previous year. This includes all of your income, and not just your salary.
Amount you can claim: $2,000 / $5,500 for Handicapped Spouse Relief
How to claim (online):
(Click on the image for more details on how to apply)
Note: If you have claimed Spouse / Handicapped Spouse Relief, none of your children or their spouses are allowed to claim Parent / Handicapped Parent Relief (except Grandparent Caregiver Relief) on your spouse. For example, if you are claiming Spouse Relief on your husband, your child cannot claim Parent Relief on your husband.
If you are a new mother or just gave birth to another child
What: Parenthood Tax Rebate
Who can claim: Parents – Married, divorced or widowed Singaporeans
Eligibility: Your child has to be born a Singapore citizen, or become one within the 12 months from birth
Amount claimed: This rebate ranges from $5,000 for your first child (born from 2008 onwards) to $20,000 for your fourth and subsequent child. You and your spouse may also choose to split your rebate into a ratio of your choice. E.g. 50 (husband) – 50 (wife) or 20 – 80.
How to claim (online):
If you are a Working Mum
What: Working Mother’s Child Relief (WMCR)
Who can claim: Working mothers who are married, divorced or widowed who have an earned income
Amount: The amount of WMCR that you can claim for each child is based on the child order and the corresponding percentage of your earned income. Starting at 15 per cent of your earned income for one kid, it reaches 25 per cent for your third and subsequent child.
Eligibility: You have a child who is a Singapore citizen (as of 31 Dec 2014) and have satisfied all conditions under Qualifying Child Relief (QCR) or Handicapped Child Relief (HCR).
How to claim (online):
If you are a working mother, and/or have a handicapped child:
What: Qualifying/ Handicapped Child Relief (QCR/HCR)
Who can claim: If you are a married, divorced or widowed Singapore tax resident maintaining an unmarried child who meets all the conditions below in 2014:
Eligibility: If you child is below the age of 16, and you earn less than $4,000 last year, which includes income from bank interest, dividends and part-time jobs.
Amount: $4,000 per child for QCR, or $7,500 per child for HCR
How to claim (online):
Note: If you are a working mother and have met all the conditions for Working Mother’s Child Relief (WMCR), you may claim also claim the Qualifying Child Relief and WMCR on the same child. QCR + WMCR is capped at $50,000 per child.
If your parents are helping you to look after your child
What: Grandparent Caregiver Relief
Who can claim: Working parents
Amount: $3,000 on one of your parents, grandparents, parents-in-law or grandparents-in-law.
Eligibility: Your parent, parent-in-law, grandparent, or grandparent-in-law (including that of ex-spouse) has to be living in Singapore in 2014, and not working. Your child must be younger than 12 years old and a Singapore citizen.
How to claim (online):
If you have a foreign maid at home
What: Foreign maid levy relief
Who can claim: If you have an employed foreign domestic worker and you are married, lived with your husband, or separated from your husband, divorced or widowed. Single taxpayers or male taxpayers are not eligible for this relief.
Amount: You or your husband can claim twice the total foreign domestic worker levy paid in the previous year, on one foreign domestic.
If the Ministry of Manpower had approved your application for the Foreign Domestic Worker Levy concession, your FML Relief will be computed based on the lower amount of levy.
This relief can only be used to offset your earned income*.
*Earned income = Taxable earned income from employment, pension, trade, business, profession or vocation less allowable expenses
How to claim (online):
Taxes are due on 18 April 2015.
For more details and to check if you qualify for these reliefs, visit IRAS website for more details.
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