Note: This article refers to paying your income tax in Singapore in 2019. For our latest guide to paying in 2020 – click here.
It’s that time of year again. I logged on to my IRAS tax portal this morning to see that my estimated income tax has already been calculated, meaning the day we all dread each year is just around the corner with the 2019 ‘Notice of Assessment’ (for your 2018 income tax liability) coming soon, in my case next week.
No one looks forward to paying their tax bill, but there’s some light at the end of the tunnel. It’s possible to pay your income tax with a wide range of credit cards in Singapore, in turn earning a sizeable chunk of KrisFlyer miles (or other frequent flyer points if your credit card allows that) for the transaction.
Note: Don’t worry if you haven’t received your bill yet and/or don’t have a ‘Notice of Assessment’ date showing at the online portal. IRAS sends out NOAs between now and September 2019, so your tax liability may be in a later ‘batch’.
The catch
This is not a service IRAS offers directly. The transaction must usually be arranged through your credit card issuer, and they will charge you a fee for the service, which means the miles are not going to be free.
Your options
The options available to you depend on the credit card(s) you hold. Remember your income tax bill is payable within a month of your ‘Notice of Assessment’ (NOA) date, unless your NOA states otherwise, so there may still be time to apply for and receive a new credit card with a superior miles earning rate if you wish.