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Qualifying for relief. To claim Qualifying Child Relief (QCR)/Child Relief (Disability) for the Year of Assessment 2024, you must satisfy all these conditions in 2023: 1. Your child is unmarried and was/is: a. Born to you and your spouse/ex-spouse; or. b. Is a step-child; or. c. Is legally adopted. 2. ^ Your child was: a. Below 16 years old; or. b.
You may claim tax relief of $4,000 per child under the Qualifying Child Relief, or $7,500 per child under the Handicapped Child Relief. You may also share the Qualifying Child Relief or Handicapped Child Relief on the same child with your spouse based on an agreed apportionment.
Qualifying for 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. You may use the PTR Eligibility Tool (XLSM, 52KB) to check your eligibility for PTR.
Oct 8, 2024 · Qualifying Child Relief (QCR)/Child Relief (Disability) Provides tax relief to parents to recognise their efforts in supporting their children. SCHEME HIGHLIGHTS. Claim up to $7,500 per dependant. Can be applied alongside the Working Mother’s Child Relief (WMCR) scheme for additional support.
You are eligible for personal reliefs and rebates if you are a Singapore Tax Resident and if you fulfilled the qualifying conditions of the reliefs and rebates. Answer a few simple questions to find out what personal reliefs you are eligible for.
Dec 3, 2023 · Qualifying Child Relief (‘QCR’) The QCR is $4,000 per child and can be apportioned between the father and mother. As our household have 2 children now, the total QCR has increased to $8,000.
Working Mother's Child Relief (WMCR) Provides tax relief for eligible working mothers, up to 25% of earned income per child. Encourages married women to stay in the workforce after having children, and rewards families with children who are Singapore Citizens. SCHEME HIGHLIGHTS.
Sep 26, 2022 · Being eligible allows you and your spouse to claim tax relief of $4,000 per child under QCR, or $7,500 per child under HCR. In this article, we will walk you through the qualifications you need to receive QCR and HCR, as well as supporting examples to get a better understanding.
Qualifying Child Relief & Working Mother’s Child Relief. According to recent research, raising a child up to the age of 21 years old in Singapore costs an average of S$435,707–excluding healthcare, new housing and additional insurance costs.
Mar 15, 2024 · As her children are below 16 years of age, she can claim Qualifying Child Relief (QCR) of S$4,000 per child. Mrs Tan decides to share this relief with her husband at an agreed apportionment of 1:3 and makes a claim of $2,000.
