[Pro Tip] "Do Nothing and Get Hit with a Tax Bomb?" Year-End Tax Settlement Refunds for Newcomers 3

Think the government will automatically refund you if you just sit back and do nothing? Big mistake! If you don't prepare in advance, you might end up owing money. Here are the top 3 essential refunds for newcomers to secure right now. 1. If you rent, 'Monthly Rent Tax Credit' is a must This offers a significant tax deduction of 15-17%. It often doesn't show up on the year-end tax settlement simplified service, so make sure to have your lease agreement and proof of rent payment ready! 2. Prefer 'Check Card + Cash Receipts' over Credit Cards The deduction rate for check cards/cash receipts (30%) is double that of credit cards (15%). It's more advantageous to use a check card once you've spent 25% of your income. 3. Utilize Youth Pension Savings / Youth Leap Accounts These are fantastic products that help you save on taxes while building up your savings. Products like pension savings funds offer the most powerful benefits, with refunds of up to 16.5% of your contributions.