Sunday, June 6, 2010

Income Tax - Course Fee Relief

What can be claimed:
And I've came to realised that actually almost all course, which includes private courses, seminars and even conferences can be used to claim tax relief up to $3,500. So do remember to keep all your courses receipts and claim them for income tax rebates. But it has to be related to your current trade, business, profession, vocation or employment.

What can't be claimed?
For courses, seminars and conference that's meant for leisure or hobby (e.g. art & craft, photography, learn Japanese etc that's non work related), or of general skills (e.g. How to use computer or even how to surf the net etc.)

When can you claim?
In the event that it doesn't fit the criteria, don't worry as you will have up to 2 years to claim for your course fees. e.g. For a course that you've attended in 2007, you can claim it when filing for income tax of assessment year 2009, (which is around apr - may 2010), provided that you fit the criteria of the course being related to your new trade, business, profession, vocation or employment then. This 2 year period also apply in the case of that your assessable income is  <$22,000.

For more info, see http://www.iras.gov.sg/irasHome/page04.aspx?id=194.

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