25 July 2012

Feedback findings to a consultation paper on the sharing of parent relief amongst claimants in such proportion as they may agree, has been released by the Inland Revenue Authority of Singapore (IRAS). The paper had set out three options which the Comptroller of Income Tax (“CIT”) may adopt for cases where claimants cannot agree on the proportion of parent relief to be shared by each of them.

From the feedback gathered, it was felt that apportioning the parent relief equally amongst all claimants is the most equitable method in the event of dispute amongst claimants. Suggestions were also given to lengthen the timeline for submission of revised claims from the proposed 21 days to between 30 to 60 days.

Four responses were received at the close of the feedback period in May 2012.

For more details, please click here.

Source: Inland Revenue Authority of Singapore (IRAS)