Parenthood Tax Rebate, Amount, How to Qualify & Claim?

Last Updated on: 25th February 2024, 11:53 am

As a parent in Singapore, you may be eligible for the Parenthood Tax Rebate (PTR), a financial incentive aimed at supporting families. The rebate amounts to $5,000 for your first child, $10,000 for your second, and an increased $20,000 for each subsequent child. However, to qualify, your child must be a citizen of Singapore at birth or within the first year.

How to Apply for the Parenthood Tax Rebate

To ease your tax burden, you and your spouse have the option to split the PTR for each eligible child. Any unused portion of the rebate can be carried forward to offset future tax liabilities until fully utilized.

Parenthood Tax Rebate Amount

The PTR varies depending on the order of children within the family:

1. First child born between 2004 to 2007: $0 PTR
   • Children born from 2008 onwards: $5,000 PTR
2. Second child: $10,000 PTR
3. Third child and subsequent children: $20,000 PTR per child

Singapore Personal Income Tax Rebate: Amount, Eligibility, Payment Method & Benefits

How to Claim the Parenthood Tax Rebate

Claiming the rebate is a straightforward process:

1. Log in to the myTax Portal using your Singpass or Singpass Foreign User Account (SFA).
2. Navigate to “File Income Tax Return” under “Individuals.”
3. Click on “Edit My Tax Form” and proceed to “4. Parenthood Tax Rebate, Reliefs, and Deductions.”
4. Select the option “Parenthood Tax Rebate (For NEW Claims Only)” and input your claim.
5. Any unused portion will be automatically carried forward for future tax reduction.

How to Qualify for Parenthood Tax Rebate

To be eligible for PTR, you must be a tax resident of Singapore who was married, divorced, or widowed within the relevant tax year. Additionally, your child must meet specific criteria depending on their birth or adoption date.

Treatment for Different Scenarios

• Children born or adopted on or after January 1, 2008, qualify for PTR based on certain conditions.
• Children born or adopted before January 1, 2008, may also be eligible if they meet the outlined requirements.
• In cases of adoption or dissolution of marriage, PTR entitlement may change accordingly.

Final Thoughts

The Parenthood Tax Rebate serves as an essential support mechanism for Singaporean families, aiming to alleviate the financial burdens associated with raising children. By understanding the eligibility criteria and application process, parents can maximize their benefits and secure a brighter future for their families.

For more information, you can feel free to visit the relevant category or Homepage.