Tax Savings At A Glance
Are you eligible for tax reliefs? Do you know you can potentially claim expenses arising from working from home?
In collaboration with the Inland Revenue Authority of Singapore, here are some common tax reliefs.
GENERAL RELIEFS - FOR ALL TAXPAYERS
![]() |
Earned Income Relief |
![]() |
Parent/Handicapped Parent Relief |
![]() |
Handicapped Brother/Sister Relief |
![]() |
CPF Relief |
![]() |
Life Insurance Relief |
![]() |
Supplementary Retirement Scheme (SRS) |
![]() |
CPF Cash Top-Up Relief |
![]() |
Course Fees Relief |
![]() |
NSman Relief |
ADDITIONAL RELIEFS
FOR MARRIED/ DIVORCED/WIDOWED TAXPAYERS
MALE AND FEMALE TAXPAYERS |
FEMALE TAXPAYERS |
Spouse Relief / Handicapped Spouse Relief |
Working Mother's Child Relief (WMCR) Given to working mothers who had taxable earned income and maintained a child in 2021
|
Qualifying Child Relief (QCR)/Handicapped Child Relief (HCR) Given to parents who are raising and/or maintaining children
|
Grandparent Caregiver Relief
|
NSman Parent Relief Given to parents of eligible operationally-ready National Servicemen |
Foreign Domestic Worker Levy Relief
|
|
NSman Wife Relief Given to wives of eligible operationally-ready National Servicemen
|
AVAILABLE DEDUCTIONS
- Deductions on Employment Expenses
For those who were required by your employer to work from home with resulting home office expenses that are not reimbursed by your employer, you can claim these expenses as a tax deduction. Supporting documents must be kept and submitted if requested.
- Deductions on Business Expenses
For the self-employed, claim deductions on allowable business expenses incurred in the course of carrying on a trade
- Deductions on Rental Expenses
Claim tax deduction on actual expenses incurred or 15% deemed rental expenses in producing the rental income on your property
- Deductions on Donations
Tax deductions of 2.5 times the amount of donations made in 2021
PARENTHOOD TAX REBATE (PTR) Given to eligible parents as credit to offset the income tax payable. PTR can be shared with your spouse based on an agreed apportionment. Any unutilised balance will automatically be carried forward to offset your and your spouse’s future income tax payable. |
Which tax reliefs are you eligible for?
For individuals and families, here’s a quick look at the key reliefs in Singapore that will help to boost savings on your final tax bill for Year of Assessment (YA) 2022. Doing so will help to enhance your cashflows, particularly during this challenging period of Covid-19 outbreak. In collaboration with the Inland Revenue Authority of Singapore, we highlight two worked examples.

For Individuals
Lisa is supporting her handicapped father and her mother (aged 57) who is a housewife, even though her mother is not living with her. She also topped up $4,200 and $4,500 to her grandmother’s and grandfather’s CPF Retirement accounts in 2021. In 2021, she attended an $8,800 course relating to her profession that she self-funded.
Lisa is a Singaporean and earned $70,000 in 2021.
Personal Tax Reliefs applicable to Lisa |
|
- Earned Income Relief |
$1,000 (auto-included) |
- Handicapped Parent Relief |
$14,000 |
- Parent Relief (for mother) |
$5,500 |
- CPF Relief |
$14,000 |
- CPF Cash Top Up Relief |
$7,000 (auto-included, and capped at max $7k) |
- Course Fee Relief |
$5,500 (capped at max of $5,500) |
Total Reliefs |
$47,000 |
Total Chargeable Income |
$23,000 ($70,000 - $47,000) |
Tax Payable on Chargeable Income |
|
Tax on the first $20,000 |
$0 |
Tax on the remaining $3,000 |
$60 |
Lisa’s Net Tax Payable for Year of Assessment 2022 |
$60 |
How it works out
Lisa can claim Parent Relief ($14,000) on her handicapped father. Though her mother is not living with her, she can claim Parent Relief ($5,500) on her mother who is 55 and above if she incurred $2,000 or more in supporting her in 2021.
As Lisa made cash CPF top-ups for her grandparents in 2021, she can claim CPF Cash Top Up Relief capped at a maximum of $7,000.
In addition, she will be able to claim the maximum Course Fees Relief of $5,500.

For Families
Mr and Mrs Tan both work full time. They live with Mr Tan’s parents, who look after the children, aged 8 and 11 years old, with the help of a foreign domestic worker. Mrs Tan also contributed $5,000 to the Supplementary Retirement Scheme (SRS) in 2021.
Mrs Tan is a Singaporean and earned $125,000 in 2021.
Personal Tax Reliefs applicable to Mrs Tan |
|
- Earned Income Relief |
$1,000 (auto-included) |
- Qualifying Child Relief |
$2,000 |
- CPF Relief |
$20,400 |
- NSman Relief (for wife) |
$750 (auto-included) |
- Working Mother’s Child Relief |
$18,750 (15% x $125,000) |
- Working Mother’s Child Relief |
$25,000 (20% x $125,000) |
- Foreign Domestic Worker Levy Relief |
$1,440 |
- Grandparent Caregiver Relief |
$3,000 |
- Supplementary Retirement Scheme (SRS) Relief |
$5,000 |
Total Reliefs |
$77,340 |
Total Chargeable Income |
$47,660 ($125,000 - $77,340) |
Tax Payable on Chargeable Income |
|
Tax on the first $40,000 |
$550 |
Tax on the remaining $7,660 |
$536.20 |
Mrs Tan’s Net Tax Payable for Year of Assessment 2022 |
$1,086.20 |
How it works out
As her children are below 16 years of age, she can claim Qualifying Child Relief (QCR) of $4,000 per child. Mrs Tan decides to share this relief with her husband at an agreed apportionment of 1:3 and makes a claim of $2,000.
In addition, she can claim Working Mother’s Child Relief calculated based on 15% and 20% of her earned income for her first and second child respectively.
She also enjoys Foreign Domestic Worker Levy Relief of $1,440 ($60 x 12 months x 2 times), which is twice the total foreign domestic worker levy she paid in 2021.
As her children were below 12 years of age in 2021, she can claim Grandparent Caregiver Relief of $3,000.
Mrs Tan will also be entitled to a Supplementary Retirement Scheme (SRS) Relief of $5,000.
When claiming tax reliefs, do bear in mind that there is a total personal income tax relief cap of $80,000.
Claiming Personal Reliefs Incorrectly May Lead to Penalties
IRAS reminds taxpayers to claim personal reliefs only if they meet the qualifying conditions for the reliefs.
If you are e-Filing, personal reliefs that you claimed and were granted last year would usually be automatically included in your tax return. Please check and remove the relief claims if you are no longer eligible for them. Penalties may be imposed for any incorrect claim of relief.
Tips on Claiming Personal Reliefs
- Avoid wrongful claims of personal reliefs. Check if you meet the qualifying conditions for each relief by visiting go.gov.sg/taxreliefs.
- To facilitate your checking, use the Personal Relief Checker on the IRAS website.
Ready to start?
Speak to the Wealth Planning Manager today for a financial health check and how you can better plan your finances.
Alternatively, check out NAV Planner to analyse your real-time financial health. The best part is, it’s fuss-free – we automatically work out your money flows and provide money tips.
Disclaimers and Important Notice
This article is meant for information only and should not be relied upon as financial advice. Before making any decision to buy, sell or hold any investment or insurance product, you should seek advice from a financial adviser regarding its suitability.
That's great to hear. Anything you'd like to add?
We're sorry to hear that. How can we do better?