Tax Season 2020 – File Taxes Early from 1 Mar
Taxpayers can use digital channels for filing assistance
27 Feb 2020: The Inland Revenue Authority of Singapore
(IRAS) reminds all taxpayers, including sole-proprietors and partners, to file
their income tax returns online at myTax Portal from 1 March to 18 April 2020.
Who Needs to File Tax?
Taxpayers who receive notifications from
IRAS to file their Income Tax returns should e-file by 18 April 2020. Taxpayers
are encouraged to file their returns early to avoid the last-minute rush and
late filing penalties. For quick access to myTax Portal, taxpayers can log in
securely with a tap from the Singpass Mobile app, without having to enter their
passwords.
This year, about 1.67 million taxpayers are
expected to benefit from IRAS’ No-Filing Service (NFS) scheme. Taxpayers on the
NFS scheme do not need to file a tax return, unless they wish to make any
adjustments to their income details or relief claims. To file a tax return,
taxpayers can log in to myTax Portal. Otherwise, taxpayers on the NFS scheme
will receive their tax bills (Notice of Assessment) from end April 2020. They
can still make amendments to their income information and tax relief claims if
necessary through the “Object to Assessment” e-Service.
Simplifying Tax Filing for Commission Agents
Self-employed commission agents, such as
self-employed insurance and property agents, with an annual gross commission
income of up to $50,000 can claim a deemed amount of expenses based on 25% of
their gross commission income. If the income of these commission agents has
been pre-filled under the Pre-filling Scheme, the 25% deemed expense will be
automatically shown in their electronic tax returns. Where their income has not
been pre-filled, they still have the option to claim the 25% deemed expense
during e-Filing. The deduction will be automatically computed once they
indicate their nature of business in their electronic tax returns.
Alternatively, self-employed commission
agents with an annual gross commission income of up to $50,000 may choose to
claim tax deductions based on the actual amount of allowable business expenses
incurred. They can do so by amending the computed information in their
electronic tax returns. They will have to retain their expense records for 5
years and provide IRAS with the relevant supporting documents upon request.
Tax Filing Assistance
Given the COVID-19 situation, taxpayers requiring tax filing assistance are strongly advised to contact IRAS through the following channels instead of visiting IRAS:
- AskJamie,
a virtual assistant on tax filing matters
- Call 1800 356 8300 or chat online (Mon-Fri, 8
a.m. to 5 p.m.)
- Send an email via myTax Portal
Taxpayers who wish to seek assistance at IRAS
are advised to make
an appointment at least 2 working days in advance.
Taxpayers could also visit the Our Tampines
Hub Integrated Public Service Centre, which will be providing assistance on
Income Tax e-filing (Mondays to Sundays, 9 a.m. to 10 p.m., except Public
Holidays) starting this year.
IRAS has made available online tax filing video guides,
including one tailored for the self-employed including taxi drivers and private-hire car
drivers.
Access to Revenue House Internal Driveway via Thomson Road Closed
Visitors to IRAS are advised to take public transportation. The access road to Revenue House Internal Driveway (via
Thomson Road) is temporarily closed to traffic due to roadworks.
Vehicles can only access the Revenue House Internal Driveway via Gilstead
Road/Gentle Road. As traffic congestion is expected, motorists are advised to
avoid the vicinity.
Update Contact Details to Receive e-Notifications from IRAS
Taxpayers are encouraged to update their contact information and email addresses in order to receive IRAS alerts to view digital notices such as tax bills. Taxpayers may update their contact details by visiting mytax.iras.gov.sg - Account > Update Contact Details.
For more on tax filing, visit www.iras.gov.sg.
Inland Revenue Authority of Singapore