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taxed 15 percent
taxed 15 percent
Need help!
I am leaving my company after working for 3 month sharp.
They required me to pay my tax before leaving to a new company so I agreed.
I just found out I was taxed at 15 percent of total income.
Only after 3 month, the tax amount due is equivalent to resident 1 year's tax(Assuming resident make 50,000/year).
I read in IRAS website that resident who worked more than 60 but less than 183 will be considered non-resident and taxed at 15%. If one works here more than 183, he/she will be taxed at a resident rate.
But I am not leaving Singapore. Will I be taxed at 15% forever or after 183 my tax will be same as resident and rest of the amoun over paid will be refunded?
Need help.
I am leaving my company after working for 3 month sharp.
They required me to pay my tax before leaving to a new company so I agreed.
I just found out I was taxed at 15 percent of total income.
Only after 3 month, the tax amount due is equivalent to resident 1 year's tax(Assuming resident make 50,000/year).
I read in IRAS website that resident who worked more than 60 but less than 183 will be considered non-resident and taxed at 15%. If one works here more than 183, he/she will be taxed at a resident rate.
But I am not leaving Singapore. Will I be taxed at 15% forever or after 183 my tax will be same as resident and rest of the amoun over paid will be refunded?
Need help.
Last edited by jhkim on Tue, 13 Sep 2005 11:43 pm, edited 1 time in total.
tax
Only matter with your actual no of days working in singapore, not the no.of days you staying, is more than 183 days in total per calendar year, then you will be taxed at resident rate and you will get your tax refunded eventually. Otherwise, stragith 15% tax rate it is.
By law, you leaving the current job with you EP status (I assume), your company has to hold the amount of money to pay for your tax. I guess you can get refund when you do your tax in the end of financial year from your second job if you get one after this.
By law, you leaving the current job with you EP status (I assume), your company has to hold the amount of money to pay for your tax. I guess you can get refund when you do your tax in the end of financial year from your second job if you get one after this.
- riversandlakes
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from 0 to knowing something about my income tax liabilities, visit the iRAS website...
http://tinyurl.com/9cnh9
http://tinyurl.com/9cnh9
Goatboy will always cherish his former goatgirl.
But the world is full of fluffier ones.
But the world is full of fluffier ones.
Thanks laura...thank god I don't have to pay 15% of the total income at the end of the fiscal year.
I will just not pay a single cent from now on and then actually try to claim back my money at the end of the fiscal year.
By the way, it just have to be 183 days in Singapore not the actually working days according to their website.
Should be well over 183 days. I started my work on end of the june so should be safe. But I went to places for vacation and there is few days gap between jobs...errr...this is not good.
What is the fiscal year for taxing purpose? jan to Dec?
I will just not pay a single cent from now on and then actually try to claim back my money at the end of the fiscal year.
By the way, it just have to be 183 days in Singapore not the actually working days according to their website.
Should be well over 183 days. I started my work on end of the june so should be safe. But I went to places for vacation and there is few days gap between jobs...errr...this is not good.
What is the fiscal year for taxing purpose? jan to Dec?
- riversandlakes
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tax at 15%
hello, you are welcome, I am just glad I can help from my own experience.
You don't need to that pay tax at 15% rate
1. if you don't quit your 2nd job before the end of financise year, which is in the end of Dec this year
or
2. your working days for this 2nd job along with working days from this 1st job is more than 183 days in the same year, eg 2005.
I have been to their taxation office, was advised face to face, IRAS only counts actual your employed days tho.
And, as long as you work up to exact 183days, then you are safe in anyway.
Have you actually looked into this website ? If haven't, here it is again.
http://www.iras.gov.sg/ESVPortal/Home/index.asp
Be aware that your scenario could repeat in every calendar unless your status changes to PR or something.
You don't need to that pay tax at 15% rate
1. if you don't quit your 2nd job before the end of financise year, which is in the end of Dec this year
or
2. your working days for this 2nd job along with working days from this 1st job is more than 183 days in the same year, eg 2005.
I have been to their taxation office, was advised face to face, IRAS only counts actual your employed days tho.
And, as long as you work up to exact 183days, then you are safe in anyway.
Have you actually looked into this website ? If haven't, here it is again.
http://www.iras.gov.sg/ESVPortal/Home/index.asp
Be aware that your scenario could repeat in every calendar unless your status changes to PR or something.
tax at 15% rate
oops,
I am confusing myself here.
nope, you still have to manage to build up your employed days is equal or more than 183 days no matter how.
I am confusing myself here.
nope, you still have to manage to build up your employed days is equal or more than 183 days no matter how.
- Carpe Diem
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- riversandlakes
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- Carpe Diem
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Last edited by Harsha on Wed, 17 Dec 2014 11:47 am, edited 1 time in total.
Very... You may need to wait quite a while before it's your turn (like at MOM) but once it's your turn they're very friendly and informative.riversandlakes wrote:IRAS people are friendly and helpful too?!
"Build a man a fire, and he'll be warm for a day. Set a man on fire, and he'll be warm for the rest of his life."
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- riversandlakes
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