Parents, Have You Claimed Your Tax Reliefs and Benefits?
Raising children in Singapore can be costly, but there are tax reliefs and rebates available to ease the financial burden. Parents can claim the Parenthood Tax Rebate (PTR), Qualifying Child Relief (QCR), and Working Mother’s Child Relief (WMCR). The PTR offers significant deductions for each child, while the QCR and WMCR provide additional savings. Understanding and claiming these benefits can help stretch your family’s savings during the tax filing season.