Having a big headache when it comes to tax filing season? Wondering is it possible for you to unwittingly pay more income tax than is required by law? You may recoil in horror, but the truth is YES!
Traditionally there may be deductions that tax resident individuals fail to claim because they have overlooked them, or don’t even know they are available. Deductions are expenses you have incurred during the tax year or tax reliefs which can reduce your taxable income.
The objective of effective tax planning is to ensure the minimal amount of tax is paid according to the law (Tax minimization).
Tax minimization includes taking advantage of:
• All applicable tax reliefs and tax rebates
• Donations to approved institutions
• Income splitting between working spouses
Introducing Sing Tax App – the only mobile application which allows you to calculate your taxable income and perform effective tax planning. Sing Tax App is a comprehensive tool with a primary objective to help tax resident individuals in facilitating the process of tax planning.
Features of Sing Tax App:-
1) Multiple Scenario Creation
• Designed for user to conduct sensitivity analysis using multiple scenarios.
2) Updated for the Year of Assessment 2015-2017
3) Calculations are based on actual Tax Rules from Inland Revenue Authority of Singapore (IRAS)
4) Calculation for Tax Reliefs and Tax rebates are included
5) Reduce Tax Bill using what-if analysis
• What-If analysis function set up to alert users on potential income tax savings based on SRS/CPF contributions and donations.
6) View spreadsheet and tax rule calculations
Sing Tax App is a free software application from the Accounting & Finance subcategory, part of the Business category.
The app is currently available in English and it was last updated on 2015-10-24. The program can be installed on Android.
Sing Tax App (version 1.3.1) is available for download from our website.
Just click the green Download button above to start. Until now the program was downloaded 0 times.
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