Tax Savings At A Glance

Are you eligible for tax reliefs?

In the light of this Covid-19 situation, learn how you can lower your 2020 income tax bill by making use of tax reliefs and deductions to enhance your cash flow. In collaboration with the Inland Revenue Authority of Singapore, here are some common tax reliefs.

Turned 55

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.

Wondering if you are eligible for the key tax reliefs for individuals and families? Learn More at our Tax Savings At a Glance (II).

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Inspired by the word “navigate”, NAV is an initiative by DBS & POSB created to help you navigate your finances, your way. Whatever your financial goals are in life, no matter what situation you are in, we’re here to help you on your financial journey.

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