if u have a lhdn file already, u need to file your income as 0 every year

Ur ex employer supposed to send CP22A ( borang pemberitahuan berhenti kerja) then LHDN will kira all the tax u owe then/ they owe u and settle with u

Btw congrats. IRAS only come next year for u🤣

This post has been edited by apieh23: Jun 20 2024, 07:21 AM

Depending on the job's salary and structure, the actual tax payable in Singapore is surprisingly low!

For instance, I pay myself a fair remuneration package consistent and pegged to what a consultant specialist doctor with the same seniority would draw from the public sector, and the rest gets funneled into my company, which pays 17% in taxes (after a $100,000 tax free protection), and I get back the rest in tax-free dividends.

Income tax here is relatively low, as SG gomen have multiple other income stream. Mainly taxed on consumption side, e.g GST, fuel tax, COE etc etc

Agree. GST and COE alone is already high enough. And to be fair, there’s relatively little waste from the taxes collected ie not so corrupt. I’m not saying there is no corruption, I’m saying that it’s manageable and it’s strictly officially frowned upon.