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Supplementary Retirement Scheme (SRS)
Claiming Tax Relief
When can I get a tax relief on my SRS contributions?
Tax relief will be granted in the year following the year of contribution provided that you are assessed as a tax resident. For example, you will get tax relief for contributions made in year 2012 and the tax relief will be given in Year of Assessment 2013, if you are regarded as a tax resident in Year of Assessment 2013.
How do I make a claim for the tax relief that I am entitled to because of my SRS contributions?
You do not need to make a claim in your annual income tax return. IRAS will grant the tax relief to you automatically, based on information provided by the SRS operators. To open an SRS account, you will need to authorise your SRS operator to provide this information to IRAS.
I am a foreigner who is leaving the country in the middle of the year. How do I claim SRS tax relief when seeking tax clearance before leaving the country?
You should obtain a statement of account specifically for the purpose of tax clearance from your SRS Operator. The IRAS will grant you the tax relief when you present such a statement.
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