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Got laid off and have to pay tax

Discuss about getting a well paid job or career advancement. Ask about salaries, expat packages, CPF & taxes for expatriate.

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Bafana
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Postby Bafana » Fri, 02 Jan 2009 11:37 am

ydnerendy wrote:
Bafana wrote:Tax Clearance is a !@#%$ but thems the breaks.

Have just finished up my tax and got hit hard.


How hard it was?
I hope it's not that hard and i am still waiting too.


30% up on last years tax probably because of how the office wrote up the final pay and holiday layout as bonuses).
Be Like Water

ydnerendy
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Postby ydnerendy » Fri, 02 Jan 2009 11:53 am

Bafana wrote:
ydnerendy wrote:
Bafana wrote:Tax Clearance is a !@#%$ but thems the breaks.

Have just finished up my tax and got hit hard.


How hard it was?
I hope it's not that hard and i am still waiting too.


30% up on last years tax probably because of how the office wrote up the final pay and holiday layout as bonuses).


30% from total income for one year or 30% from 1 month salary.
If for total 1 year it is quite hard.

My total 1 year around 27k.
30 % could be $8100.

4 times higher from my one month salary.

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sundaymorningstaple
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Postby sundaymorningstaple » Fri, 02 Jan 2009 5:52 pm

ydnerendy,

Please go back and read the links I provided to you in the beginning.

Additionally, when the tax clearance is finalized by Inland Revenue, you won't have to worry about your Employer screwing you as Inland Revenue sends both the employee and employer a tax statement declaring how much your tax liability is. Therefore, if your employer tries to deduct more then you have reason to revert to IRAS to have them sort it out.

There is NO EP TAX,

There is NO STUDENT/TRAINING TAX,

There is ONLY INCOME TAX and the IRAS will send you a statement as to how much is required to be paid by your employer. The balance of your final salary should then be remitted to you.

If your income was 27K/p.a. then your taxes would be around S$186 for 2008, and if it was the same for 2007 then around S$245 or less than $500 for the two years. Don't sweat it.

Download this and play with it: http://www.iras.gov.sg/irasHome/uploade ... ur-tax.xls

sms

ydnerendy
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Postby ydnerendy » Fri, 02 Jan 2009 6:13 pm

sundaymorningstaple wrote:ydnerendy,

Please go back and read the links I provided to you in the beginning.

Additionally, when the tax clearance is finalized by Inland Revenue, you won't have to worry about your Employer screwing you as Inland Revenue sends both the employee and employer a tax statement declaring how much your tax liability is. Therefore, if your employer tries to deduct more then you have reason to revert to IRAS to have them sort it out.

There is NO EP TAX,

There is NO STUDENT/TRAINING TAX,

There is ONLY INCOME TAX and the IRAS will send you a statement as to how much is required to be paid by your employer. The balance of your final salary should then be remitted to you.

If your income was 27K/p.a. then your taxes would be around S$186 for 2008, and if it was the same for 2007 then around S$245 or less than $500 for the two years. Don't sweat it.

Download this and play with it: http://www.iras.gov.sg/irasHome/uploade ... ur-tax.xls

sms


thankyou for your kind to assumed the tax :)
I've tried this calculator that i got from the link that you given me before but i am still not sure with my assumtion.

since you has assumed the tax so i think i can refering to that.

Thanks again, after i got my salary i am going to ask for another topic's and hope you can help me to answer again :)

Thank you,

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Bafana
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Postby Bafana » Sat, 03 Jan 2009 11:00 pm

ydnerendy wrote:
Bafana wrote:
ydnerendy wrote:
Bafana wrote:Tax Clearance is a !@#%$ but thems the breaks.

Have just finished up my tax and got hit hard.


How hard it was?
I hope it's not that hard and i am still waiting too.


30% up on last years tax probably because of how the office wrote up the final pay and holiday layout as bonuses).


30% from total income for one year or 30% from 1 month salary.
If for total 1 year it is quite hard.

My total 1 year around 27k.
30 % could be $8100.

4 times higher from my one month salary.


30% up on my usual tax bill not 30% of my income.
Be Like Water

ydnerendy
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Postby ydnerendy » Sun, 04 Jan 2009 12:58 pm

i've got my salary last friday and got $300 deduction from my salary.
Just like the sundaymorning said not until $500.

thanksyou for all you guy's had answer my question :)

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sundaymorningstaple
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Postby sundaymorningstaple » Sun, 04 Jan 2009 5:47 pm

:wink:

calvink
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Postby calvink » Sun, 04 Jan 2009 5:57 pm

Oh...btw...does tax calculation starts once you got ur IPA or the EP 'card' from MOM....

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sundaymorningstaple
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Postby sundaymorningstaple » Sun, 04 Jan 2009 8:22 pm

For purposes of computing the 183 days to be able to use resident status for tax rates it's from the date of entry into Singapore (as chopped in your passport) and not from the date of your EP or IPA. It is computed on the total number of day "IN" Singapore and not the number of days "WORKED" in Singapore.

HTH. SMS


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