The Parenthood Tax Rebate 2024 aims to alleviate the financial strain on parents and promote family planning for Singaporean citizens. In this guide, we will explain the eligibility criteria for the Parenthood Tax Rebate, its application process, and other key details.
This rebate effectively reduces the taxable income of eligible parents. To qualify for this rebate, the child must be a Singapore citizen under the age of 16. The specific rebate amount varies based on the number of children in the household, making it essential to verify the eligibility criteria outlined in the Singapore Parenthood Tax Rebate Eligibility 2024.
As of 2023, Singapore had 1,425,100 resident households. This is an increase of 21.3% from 2013. In 2023, Singapore also had about 1.56 million residential dwelling units under the Housing Development Board (HDB). These people can benefit from this scheme.
What is the Singapore Parenthood Tax Rebate 2024?
The Singapore Parenthood Tax Rebate 2024, often abbreviated as PTR 2024, is a tax incentive introduced by the Singaporean government to provide financial assistance to parents and encourage family planning.
This rebate effectively reduces the taxable income of eligible parents, helping to alleviate the financial burden associated with raising children. To qualify for the PTR, the child must be a citizen of Singapore and under the age of 16 years.
The rebate amount varies depending on the number of children in the household, with different tiers of rebates available. Eligible parents can claim the PTR when filing their annual tax returns.
Singapore Parenthood Tax Rebate 2024 Summary
Here is an overview of the Singapore Parenthood Tax Rebate in 2024:
| Key Details | Description |
| Program | Parenthood Tax Rebate 2024 |
| Department | Inland Revenue Authority of Singapore |
| Country | Singapore |
| Rebate Type | Parenthood Tax Rebate |
| Eligible Candidates | Parents having a child who is a resident of Singapore |
| Child’s Age | Under 16 years |
| Payment Amount | As per the number of children |
| Application Mode | Online |
| Category | Financial Aid |
| Website | iras.gov.sg |
Singapore Parenthood Tax Rebate Eligibility Criteria
Here are the eligibility criteria to apply for the Singapore Parenthood Tax Rebate in 2024:
- Eligibility requires residency in Singapore and having a dependent child.
- The child must be born in Singapore and be under 16 years old.
- Parents must act as caregivers for the dependent child.
- The Parenthood Tax Rebate (PTR) is applicable if a Foreign Domestic Worker is employed for the child’s care.
- Submission of income tax returns for the relevant tax year is mandatory to receive the rebate.
- Working mothers in Singapore with children under the age of 16 are eligible for the Tax Rebate known as the Working Mother’s Child Relief.
When you meet the eligibility criteria for the Singapore Parenthood Tax Rebate, you can see the qualification criterion to see if you will receive financial aid from the government.
Singapore Parenthood Tax Rebate Qualification Scenarios
The Parenthood Tax Rebate (PTR) is provided to tax residents in Singapore to incentivize them to expand their families. To be eligible, you must be a Singapore tax resident, whether married, divorced, or widowed in the applicable tax year.
You can also utilize the PTR Eligibility Tool (XLSM, 52KB) to verify your eligibility for the PTR. Here are the two qualification scenarios for eligible candidates:
1. Children born or adopted on or after 1 Jan 2008:
| S/N | Conditions for qualifying child | Relevant year of claim |
| 1 | Born to you and your spouse/ex-spouse on or after 1 Jan 2008 and you are married to your spouse/ex-spouse at the time; andIs a Singapore Citizen* at the time of birth or within 12 months thereafter | Year of birth |
| 2 | Born to you and your spouse/ex-spouse on or after 1 Jan 2008 before you are married to your spouse/ex-spouse, and your marriage is registered before your child reaches 6 years old; andIs a Singapore Citizen* at the time of your marriage or within 12 months thereafter | Year of marriage |
| 3 | Legally adopted on or after 1 Jan 2008 when you are married but before your child reaches 6 years old; andIs a Singapore Citizen* at the time of legal adoption or within 12 months thereafter | Year of adoption |
2. Children born or adopted before 1 Jan 2008:
The Parenthood Tax Rebate (PTR) does not apply to your first child born or adopted before January 1, 2008. However, to qualify for PTR, your second, third, or fourth child must meet the following conditions.
| S/N | Conditions for qualifying child | Relevant year of claim |
| 1 | Born to you and your spouse/ex-spouse on or after 1 Jan 2004 and you are married to your spouse/ex-spouse at the time; andIs a Singapore Citizen* at the time of birth or within 12 months thereafter | Year of birth |
| 2 | Born to you and your spouse/ex-spouse on or after 1 Jan 2004 before you are married to your spouse/ex-spouse, and your marriage is registered before your child reaches 6 years old; andIs a Singapore Citizen* at the time of your marriage or within 12 months thereafter | Year of marriage |
| 3 | Legally adopted on or after 1 Jan 2004 but before 1 Jan 2006; orLegally adopted on or after 1 Jan 2006 but before the child reaches 6 years old; andIs a Singapore Citizen* at the time of legal adoption or within 12 months thereafter | Year of adoption |
Note: If you fulfill the eligibility criteria, including adhering to the specified timeline for your child to acquire Singapore Citizenship, you might be eligible for the Parenthood Tax Rebate (PTR) for children born abroad.
Singapore Parenthood Tax Rebate Amount Calculation
The rebate amount is determined by the number of children in the family, with each child receiving a specific amount according to regulations. Details of the amount allocated to each child are provided in the table below:
| Order Of Child | Child Born Between 2004 and 2008 | Child Born After 2008 |
| 1st child | $0 | $5000 |
| 2nd child | $10000 | $10000 |
| 3rd child | $20000 | $20000 |
| 4th child | $20000 | $20000 |
| 5th child and subsequent | $0 | $20000 per child |
How to Apply for Singapore Parenthood Tax Rebate?
Here’s how to apply for the Singapore Parenthood Tax Rebate using the provided information:
- Log in with your Singpass or Singapore Foreign User Account (SFA) at the myTaxPortal.
- Click on the “Individuals” tab.
- Navigate to “File Income Tax Return.”
- Select “Edit the Tax Form.”
- Choose “Parenthood Tax Rebate.”
- Click on “Update” and fill in your claim details.
- Follow the prompts to complete the application process.
By following these steps, you can easily claim the tax rebate in Singapore and ensure any unused rebate is applied to future tax payments.
Note: Any unused Parenthood Tax Rebate will be carried forward to offset future income tax liabilities. Remember that any remaining balance cannot be refunded.
Alternatively, you can complete the particulars of your child in Appendix 2 in Form B1 & B at the myTaxPortal and mail it to the designated authorities to claim your Parenthood Tax Rebate.
Final Words
In conclusion, the Singapore Parenthood Tax Rebate serves as a significant financial incentive for families to expand and nurture their households. By offering tax relief to eligible parents, the government aims to alleviate the financial burden associated with raising children and promote family planning initiatives.
The rebate amount is dependent on various factors, including the number of children in the family, and can provide valuable assistance to parents in managing their finances.
Overall, the Parenthood Tax Rebate underscores the government’s commitment to supporting families and fostering a conducive environment for parenthood in Singapore. By incentivizing parenthood through tax relief measures, the government seeks to promote population growth and ensure the well-being of future generations.
Disclaimer: While every effort has been made to provide accurate and up-to-date information, readers are advised to consult with relevant tax authorities or financial advisors for personalized guidance regarding the Singapore Parenthood Tax Rebate.