Tax Relief 2023: Up to $12,000 For Working Mothers With Children To Be Born, Adopted Next Year

Up to $12,000 will be received by eligible working mothers for the Tax Relief 2023. Adhering to the announcement, mothers with children expected to be born or adopted in 2024 are qualified.

Tax Relief 2023 for Working Mothers [Photo: families, LoveToKnow]

According to Ryan J, in contrast to the current structure, the tax relief depends on a percentage of the recipient’s income. To date, the amount the working mothers can receive is 15% for the first child, 20% for the second, and 25% for the third and subsequent children. The adjustment means that working mothers who earn high incomes may receive a lower amount for the tax relief. However, those who earn low incomes may experience an increase in what they will receive. Unfortunately, single mothers are not eligible to claim this tax relief.

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Tax Relief 2023 on Foreign Domestic Workers

According to Lim, the tax relief imposed on foreign domestic workers is allowed to lapse from the year of assessment in 2025. This lapse is applied to the income to be earned in 2024. In addition, Wong stated that the government has introduced an adjustment to the tax relief that will provide more financial assistance to the families that need help in taking care of their dependents. In a press release, a strategy group under the Prime Minister’s Office, the National Population and Talent Division stated that there would be no change to the levy concession.

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