Not sure if everyone is aware of this. But, I just calculated my income tax for this year and found out that IRAS is giving a 20% one-off rebate on the income tax payable, capped at $2000. So if your income tax payable for the YOA 2011 is $4000 you actually have to pay just $3200
And on top of that our income tax rates are reducing next year such the one-off rebate is not really one-off but our income tax liability will actually reduce by 20%.
Singapore I love you.
