Parenthood tax rebate Singapore: A guide
How much do you know about the parenthood tax rebate?
Parenthood Tax Rebate is a lump sum rebate given to married Singapore tax payers to encourage them to have more Singapore citizen children by providing them with financial support for bringing up their children.
It can be used to offset income tax that is payable. It may be shared with your spouse based on the apportionment agreed by both parties.
The unutilised parenthood tax rebate will be carried forward to offset future income tax payable, until it is fully utilised.
How much you can claim
There are some clauses to if you are legible for the tax rebate, but in general you can claim the following:
(YA 2008 and before)
|5th and beyond||$0||New! $20,000 per child|
How to claim your parenthood tax rebate
You can find out more about this at http://www.iras.gov.sg/irasHome/page04.aspx?id=1528