5. Tax Planning
Objective
- To achieve tax savings
Purpose
- To fully utilize tax reliefes
Principle
- to utilize all tax reliefs
- To be aware of the rate of tax on chargeable income.
How to achieve?
- Tax reliefs such as life insurance premiums, expenses on medical treatment, fees paid to childcare center, etc
Timeframe
- Medium-term goal is to achieve tax savings within one to three years.
