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Learn how to claim PTR, a one-off rebate of up to $20,000 per child, if you are a Singapore tax resident who is married, divorced or widowed. Find out the conditions for qualifying child, PTR treatment for different scenarios, and how to determine child order.
- Tax reliefs, rebates and deductions
Parenthood Tax Rebate (PTR) You and your spouse may share...
- Tax reliefs, rebates and deductions
If you are a parent, you may be eligible to claim the Parenthood Tax Rebate of $5,000 for your first child, $10,000 for your second child, and $20,000 per child for your third and subsequent child. The child must be a Singapore Citizen at the time of birth or within 12 months thereafter.
Parenthood Tax Rebate (PTR) You and your spouse may share the rebate based on an apportionment agreed by both of you. Tax deductions. Deductions on rental expenses. Claim tax deductions on expenses related to rental income derived in Singapore. Deductions on donations. Tax deductions will be automatically granted for qualifying donations.
Sep 27, 2022 · Learn how to qualify and claim PTR, a lump sum rebate for Singapore tax residents who have children. Find out the conditions, amounts, scenarios, and FAQs for PTR.
- What Exactly Is The Parenthood Tax Rebate (PTR)?
- How Much Can I Claim?
- Who Qualifies For The PTR?
- Can Both Parents Claim The PTR?
- Can I Still Claim The PTR If I’m Divorced?
- Can I Claim The PTF If I’m Giving Up My Child For Adoption?
- How Do I Claim The PTR?
- Other Schemes That Parents Can Tap on
The PTR is a government tax relief scheme, given to Singapore tax residents to encourage them to have more children. It can be claimed in the year following your child’s birth. If your child was born or adopted after 2008 and meets the qualifying conditions, you can make a PTR claim too. You can make a claim for each child you have. As the PTR is a...
Parents can claim a one-time amount of $5,000 for their first child, $10,000 for their second, and $20,000 for their third and each subsequent child. Any unutilised balance is automatically carried forward and offsets your future payable tax. Note that the overall maximum amount of personal income tax reliefs claimable by an individual in a year is...
As per IRAS regulations, you must be a Singapore tax residentwho is married, divorced or widowed in the relevant year. Your child has to be born on or after 1 Jan 2008, and must be a Singapore citizen at the time of birth or within 12 months thereafter. If your child is adopted, they need to be legally adopted on or after 1 Jan 2008. They must be a...
You can’t make a claim for each child more than once. But as long as you and your spouse are tax-paying residents, you can share the PTR to offset payable income tax, based on an apportionment agreed. If your income tax for that year is less than the rebate, the unutilised amount will be carried forward to offset your tax in subsequent years. This ...
Yes, you and your ex-spouse may continue to utilise any remaining PTR balances in your respective accounts to offset your tax. If you’re both unable to agree on the apportionment, IRAS will apportion the PTR equally between you.
If your child was given up for adoption after the year of birth, parents are not entitled to any PTR once the adoption is legalised. Your remaining PTR balance will be forfeited as well. If your child was given up for adoption in the year of birth itself, you are not entitled to the PTR.
You can make a claim when e-filing your income tax returns. Simply follow these steps: 1. Login with your Singpass or Singpass Foreign user Account (SFA) at myTax Portal. 2. Go to Individuals > “File Income Tax Return”. 3. Select “Edit My Tax Form”. 4. Go to “Deductions, Reliefs and Parenthood Tax Rebate”. 5. Go to “Parenthood Tax Rebate (For NEW C...
As a working parent, there are other useful government schemes to take advantage of, especially if you’re a working mother or have a domestic helper.
Apr 21, 2021 · The Parenthood Tax Rebate (PTR) is given to tax residents to encourage them to have more children. To qualify, you must be a Singapore tax resident who is married, divorced or widowed in the relevant year. Under this provision, married, divorced, or widowed parents who do their tax filing may claim tax rebates of up to $20,000 per child.
Learn how to claim the Parenthood Tax Rebate (PTR) and other family-friendly rebates in Singapore. Find out who qualifies, how much you can save, and what are the eligibility criteria for each scheme.
