Remember to claim your Parenthood Tax rebate and child reliefs

Every April of the year, we need to make sure we file our income tax. While some are notified that they are not required to do so, it is still a good habit to check that all the figures filed are correct. And especially so for parents if you have add on little ones into your family. Congratulations. =)

Do check that you have made your claims for the following reliefs: child relief, grandparent caregiver relief, working mother child relief and forgeting your Parenthood Tax Rebate.

"Extraction from IRAS"
Parenthood Tax Rebate' (PTR) is a rebate given to married Singapore tax residents to encourage them to have more children. PTR can be used to offset your income tax payable. This rebate may be shared with your spouse.

How much you can claim
From YA 2009 onwards, the PTR has been extended to include 1st child, 5th child and subsequent children.

1st child - $5,000
2nd child - $10,000
3rd child - $20,000
4th child - $20,000
5th child and beyond - $20,000 per child

For more info and details on Parenthood Tax Rebate, here's the link:
http://www.iras.gov.sg/irasHome/page04.aspx?id=1528

Other links:

Child Relief:
http://www.iras.gov.sg/irasHome/page04_ektid214.aspx

Working Mother Child Relief:
http://www.iras.gov.sg/irasHome/page04.aspx?id=220

Grandparent Caregiver Relief:
http://www.iras.gov.sg/irasHome/page04_ektid204.aspx

Just remember to do the above by 18 Apr 2012 if you are filing online. =)