Additionally, medical expenses exceeding 7.5% of your income and contributions to retirement funds can further reduce your tax liability through deductions. Remember, these are just highlights, and consulting a tax professional is crucial to ensure you claim all eligible rebates and deductions for maximum benefit.
Tax Rebates
| wdt_ID | wdt_created_by | wdt_created_at | wdt_last_edited_by | wdt_last_edited_at | Tax Rebates | 2024 | 2023 | 2022 |
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Note:
- Tax rebates must be deducted from ordinary taxes due as per the relevant tax table.
- The primary rebate is deductible for all individuals.
- The secondary rebate may only be applied to individuals 65 or older on the last day
of the relevant assessment year. - The tertiary rebate is deductible only for individuals who will be 75 or older on the last day of the
relevant assessment year