err... someting abt income tax?
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i'm lost...Originally posted by Qitai: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.
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er... does the income in cludes allowances.
what does it mean income? basic + allowance + bonus + blah blah blah??? -
point of no returns???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.
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If I win $30000 on Mahjong with frens, must I file for income tax as well? How about dividends recieved from comapny?
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u can deposit ur $30k into my bank. interest 5% p.aOriginally posted by shade343:If I win $30000 on Mahjong with frens, must I file for income tax as well? How about dividends recieved from comapny? -
www.iras.gov.sgOriginally posted by shade343:If I win $30000 on Mahjong with frens, must I file for income tax as well? How about dividends recieved from comapny? -
I mean bank account with banks. The government knows what bank accounts you have.Originally posted by shinta:i'm lost... -
That is beyond me. Never need to worry about other parts. Check IRAS website as indicated by Ditzy.Originally posted by RaTtY81:er... does the income in cludes allowances.
what does it mean income? basic + allowance + bonus + blah blah blah??? -
Which bank so good har?Originally posted by RaTtY81:u can deposit ur $30k into my bank. interest 5% p.a -
tink he meant into his acc...den he pay 5% p.a....Originally posted by Qitai:Which bank so good har?
den b4 he pay, he run off -
hmm i'm still blur.. referrin to the site leaves me blur stillOriginally posted by Qitai:I mean bank account with banks. The government knows what bank accounts you have. -
my finance company lor. Ah Long Sang Finance Ltd. u better think many many times b4 u withdraw ur money after u deposited itOriginally posted by Qitai:Which bank so good har? -
i dun hav any intention of payingOriginally posted by shinta:tink he meant into his acc...den he pay 5% p.a....
den b4 he pay, he run off -
If your company deducts 20% of your pay to CPF, then you shld be receiving a FORM IR8A from your employer.
You have to check if your company is auto-inclusion listed company. If so, they will file on your behalf as you juz need to log into the web and check to make sure all the details are correct. All your allowances, bonuses, OT pay are included inside the FORM IR8A.
If not, you have to file thru internet with the FORM IR8A. All the details are enclosed on that form, you juz have to key in manually.
Unless you have other sources of income, or claiming relief, you have to let them know by clicking on the respective boxes.
Hope that helps. -
den the money part lei?Originally posted by ILPSY:If your company deducts 20% of your pay to CPF, then you shld be receiving a FORM IR8A from your employer.
You have to check if your company is auto-inclusion listed company. If so, they will file on your behalf as you juz need to log into the web and check to make sure all the details are correct. All your allowances, bonuses, OT pay are included inside the FORM IR8A.
If not, you have to file thru internet with the FORM IR8A. All the details are enclosed on that form, you juz have to key in manually.
Unless you have other sources of income, or claiming relief, you have to let them know by clicking on the respective boxes.
Hope that helps.
how? -
ir8a is from yr employer, not from irasOriginally posted by RaTtY81: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...
form b or b1 are from iras -
if discover, can ganna fine one!!Originally posted by Qitai:>22k annual----> no form keep quiet, hope they do not discover this for the next 7 years
don't play play -
wrong, fraud has no time limitOriginally 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.
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i dun hav the ira formOriginally posted by Kenashi:ir8a is from yr employer, not from iras
form b or b1 are from iras
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u dont have?Originally posted by RaTtY81:i dun hav the ira form -
where got 10 times???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.
u read what report -
wrong for the last one, unless u didn't pay the tax n ganna enforcement action.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 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 )
then they will freeze yr account n help themselves to yr saving
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no. they can take yr shares, yr salary from yr employer n etc.Originally posted by shinta:so meaning.... we must have money in the bank for them to deduct for tax purposes? -
got the iras pin?Originally posted by RaTtY81:i dun hav the ira form -
Submitted.... now waiting to see how much they want to suck from me
I'm just a poor farmer... don't see them paying me when my annual pay is below the taxable range... so unfair