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Queries on Income Tax after employer change.

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sach0220
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Queries on Income Tax after employer change.

Postby sach0220 » Thu, 13 Nov 2014 12:39 am

Hi

I have arrived in Singapore on 20 July 2014 and and my last day in current company is 31st December 2014.
So my employer will cut directly 15% tax from my last salary since i have been in Singapore less than 183 days.
I will be joining new company in Singapore from 5 Jan 2015 so i will be eligible to pay non resident tax for the year 2014 for which my previous employer has deducted 15% flat tax.

So my queries are:
1) How should i apply for tax refund for 15% non resident tax paid for year 2014.
2) Will the money credit to my bank account or will be given to previous employe

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ecureilx
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Re: Queries on Income Tax after employer change.

Postby ecureilx » Thu, 13 Nov 2014 9:02 am

this has been discussed a few times

When your employer gets the income tax clearance, stating the amount, the employer can a) ask you to settle so they can release to you the amount being held, or b) they can settle and return the balance

You don't apply for refund, from what I know (though others have had different experience)

In my experience, since you continue working, IRAS will minus off the extra amount collected from you, if they have done so, in the next year's assessment !

And I am not sure why the 'refund' comes in here, as you only pay what IRAS assseses and advices your employer as explained above.

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JR8
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Re: Queries on Income Tax after employer change.

Postby JR8 » Thu, 13 Nov 2014 9:20 am

'Do it or do not do it: You will regret both' - Kierkegaard

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zzm9980
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Re: Queries on Income Tax after employer change.

Postby zzm9980 » Thu, 13 Nov 2014 10:50 am

If IRAS chooses to assign you the lower tax rate for 2014 (YA2015), they will automatically credit you when you file your taxes

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ecureilx
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Re: Queries on Income Tax after employer change.

Postby ecureilx » Thu, 13 Nov 2014 11:56 am

zzm9980 wrote:If IRAS chooses to assign you the lower tax rate for 2014 (YA2015), they will automatically credit you when you file your taxes


I do get the drift that OP thought his employer will pay first and then wait for the assessment

sach0220: the employer or you can only pay the amount due, after IRAS assessment, not some ball park sum !!!


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