Tax and Cost of Living in Singapore 2014 June

It is the middle of July right now. I think everyone already get the income tax letter from Singapore. In last year, I got 30% tax rebate. But this year, there is no such column called “LESS: TAX SETOFFS” in the income tax letter. I have to pay the full amount of the tax, a quite big number. I don’t know why there is no personal tax rebate in 2014. If anyone knows the reason, please leave your message here.

Enjoy 12 Monthly Interest Free Installment By GIRO

Before I disclose my cost of living in June, I want to share with you a better way to pay your tax. Do you know GIRO? It’s a very common payment method in Singapore. Now the IRAS allow us to pay our tax through Giro. Under the GIRO scheme, we will get to enjoy a maximum 12 monthly interest free installment payments. This interest free tax payment will extremely help us the pressure of tax payment. Here are the steps to apply your monthly interest free installment via POSB online banking.

  • Login your POSB online bank
  • Click Payment menu in the left menu list
  • Click GIRO: Manage GIRO Arrangements in the expanded menu list
  • Click Add GIRO Arrangement in the coming page
  • Choose the account you want to pay from with GIRO
  • Choose IRAS-Income Tax as To Billing Organization
  • Fill in your FIN number or NRIC number as Bill Reference No.
  • Leave Payment Limit blank
  • Confirm and Complete

The IRAS will automatically enable the interest free monthly installment. Later, you will get a letter to tell you how much you will pay each month and the amount will be automatically deducted from your bank account.

Cost of Living in June Singapore

In June, I don’t have too much changes in my living cost. Here is a table about my cost in details.

Cost of Living In Singapore 2014 June (SGD $)
Fruit, Veg, Milk, Bread and Snacks S$78.2
Transport S$90
Meal S$200
Phone Bill S$0 (forget to pay)
Rental S$600.00 (The rental also includes electricity, gas and water fee)
Total Cost S$968.20

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