Tuesday, April 11, 2006

Income Tax Day

Just completed my annual income tax filing ritual.

Time this year to complete all the forms: 9 mins 19 secs

I did it by phone in Singapore. What a country!

See, all I have to do is key in the amount of income I have and claim the deductions for my wife and two children. Then they do the rest! It took me a few extra minutes cause I was exploring other options on the phone which they politely informed me "I'm sorry, that option is not available to you."

In a few months they will tell me how much money I owe, and they will automatically start deducting it from my bank account in monthly installments. In fact, based on previous years, they have already estimated how much I will owe, and have started to deduct it. Later, they'll make the specific adjustments and inform me.

To show it is a government that understands its residents, the deduction for my spouse is compassionately called "wife relief."

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