By MoneyBees
Work out the income tax you save by claiming professional body subscriptions as an IRAS employment expense, with the three conditions, where to claim and what the fees cost after tax.
Yes, as an employment expense, if the subscription is for professional updates, knowledge and networking and meets IRAS's three conditions: incurred for your official duties, not reimbursed by your employer, and not capital or private in nature.
IRAS names SCTP, ISCA, SMA, SAL and IES as examples of professional bodies whose subscriptions can be claimed. It does not publish a full list, so check the body is tied to the work you do in your job.
The claim comes off your employment income before reliefs, so it saves tax at your marginal rate. A S$500 claim in the 7% band saves S$35; in the 11.5% band it saves S$57.50. In the 0% band it saves nothing.
Under '1. Employment Income and Expenses' in your Income Tax Return, select 'Add New' and then 'Employment Expenses'.
No, unless IRAS asks. Keep complete records with invoices or receipts for 5 years. IRAS does not accept estimates.
IRAS treats a professional body subscription your employer pays as taxable to you, and lets you claim it as an expense, so the two cancel out. A practising certificate or licence fee your employer pays is not taxed and cannot be claimed.
No. An employment expense reduces your employment income before reliefs, so it does not count towards the S$80,000 cap on personal reliefs.
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