The tax deductions, allowable under salaries tax or personal assessment, is subject to a cap of $60,000 per year. Depending on your TVC amount, based on the prevailing highest tax rate (i.e. 17%), the maximum tax savings can reach $10,200.
Please note that this TVC Tax Deduction Calculator is for reference only, it does not reflect your actual personal tax payable, net chargeable income and tax deductible amount.
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