err... someting abt income tax?

• RaTtY81

  14 Apr 05, 10:49

  will u received the ir8a form from the gahment if u onli work for 5 mths? up to now i still haven received the income tax form...
• elindra

  14 Apr 05, 10:50

  They said if you never receive the form it means you don't need to file your income tax. However, if you still uncomfortable about it, just give them a call.
• RaTtY81

  14 Apr 05, 10:52

  oic... thz...
• bratpig

  14 Apr 05, 10:52

  dunno....never pay b4
• Qitai

  14 Apr 05, 11:09

  New rule this year - If your annual income is less than $22,000, then you do not need to file for income tax.
• Deportivo

  14 Apr 05, 11:09

  Originally posted by bratpig:

  dunno....never pay b4

  kids.........
• shinta

  14 Apr 05, 11:11

  Originally posted by Qitai:

  New rule this year - If your annual income is less than $22,000, then you do not need to file for income tax.

  that would be mthly of $1,800?
  
  bonus include oso rite?
• ditzy

  14 Apr 05, 11:11

  <22k annual---->no form no file.
  >22k annual---->got form must file.
  <22k annual---->got form just file.
  >22k annual---->no form quickly call!
  
  
• Qitai

  14 Apr 05, 11:15

  Originally posted by ditzy:

  <22k annual---->no form no file.
  >22k annual---->got form must file.
  <22k annual---->got form just file.
  >22k annual---->no form quickly call!
  
  

  >22k annual----> no form keep quiet, hope they do not discover this for the next 7 years
• Qitai

  14 Apr 05, 11:16

  Originally posted by shinta:

  that would be mthly of $1,800?
  
  bonus include oso rite?

  Include
• shinta

  14 Apr 05, 11:16

  Originally posted by Qitai:

  >22k annual----> no form keep quiet, hope they do not discover this for the next 7 years

  y next 7 years?
• Qitai

  14 Apr 05, 11:18

  Originally posted by shinta:

  y next 7 years?

  Bcos the law states that they cannot sue you for wrong filing after that period. Anyway, I am not sure if it is 7 or 10 years. But got time limit one.
• shinta

  14 Apr 05, 11:20

  Originally posted by Qitai:

  Bcos the law states that they cannot sue you for wrong filing after that period. Anyway, I am not sure if it is 7 or 10 years. But got time limit one.

  oh.. but wat happens if they find out?
• bratpig

  14 Apr 05, 11:21

  Originally posted by Deportivo:

  kids.........

  yesh uncle....can gib me sweet sweet?
• Qitai

  14 Apr 05, 11:23

  Originally posted by shinta:

  oh.. but wat happens if they find out?

  You mean before that time limit?
  
  In that case depends loh. But usually I think they double or even 10 times the amount you are suppose to pay loh. News sometimes got report this type of thing and got heard stories also.
• ditzy

  14 Apr 05, 11:26

  Originally posted by shinta:

  oh.. but wat happens if they find out?

  Then you will tamade die loh. It is after all your duty to inform them, not the other way around.
• shinta

  14 Apr 05, 11:26

  Originally posted by Qitai:

  You mean before that time limit?
  
  In that case depends loh. But usually I think they double or even 10 times the amount you are suppose to pay loh. News sometimes got report this type of thing and got heard stories also.

  how do they get the income tax money?
  
  from our co? or?
• shinta

  14 Apr 05, 11:29

  how does income tax works actually??
  
  how do they get the money??
  
  if i dun have the form i dun have to bother if i'm earnin less than 22k a year(inclusive of bonus).. rite?
• ditzy

  14 Apr 05, 11:29

  That is correct.
• shinta

  14 Apr 05, 11:32

  Originally posted by ditzy:

  That is correct.

  which is correct??
• ditzy

  14 Apr 05, 11:36

  The 22k thing. www.iras.gov.sg for deeper details.
• shinta

  14 Apr 05, 11:36

  too chim liao tats y i'm askin u guys mah...
  
  must learn how to fill this kinda stuff de wor...
• Qitai

  14 Apr 05, 11:37

  Originally posted by shinta:

  how does income tax works actually??
  
  how do they get the money??
  
  if i dun have the form i dun have to bother if i'm earnin less than 22k a year(inclusive of bonus).. rite?

  You mean knowing how much you earn or how you pay income tax.
  
  For the former, your company must report to them also. So, that covers part of it. For the rest, I think they just do random audit loh. I think bank also inform them of all your $$ movement. So, if you got unreported $$, then hide it. Also, buying a private property is definately an audit trigger if you have been reporting no income for years.
  
  For the latter, they forcefully deduct $$ from my bank account without me approving it (and they even send me a thank you letter for that )
• shinta

  14 Apr 05, 11:39

  Originally posted by Qitai:

  You mean knowing how much you earn or how you pay income tax.
  
  For the former, your company must report to them also. So, that covers part of it. For the rest, I think they just do random audit loh. I think bank also inform them of all your $$ movement. So, if you got unreported $$, then hide it. Also, buying a flat or a car is definately an audit trigger if you have been reporting no income for years.
  
  For the latter, they forcefully deduct $$ from my bank account without me approving it (and they even send me a thank you letter for that )

  so meaning.... we must have money in the bank for them to deduct for tax purposes?
• Qitai

  14 Apr 05, 11:46

  Originally posted by shinta:

  so meaning.... we must have money in the bank for them to deduct for tax purposes?

  You must show IC when you open account, so Government knows what account you have.
  
  So, if you really want to, you can have zero bank account loh. In that case, I would also want to know what would happen.