There’s about 3 weeks left before the year is out. Have you thought about doing something to maximise your income tax relief for the year? If not, you might want to start doing some last minute shopping.
There are several things that I think I can still do in order to maximise the tax relief. The insurance part is maxed out, so is the insurance premium for education and medical benefit as well as the purchase of books. Some areas which I’ve not touched at all are buying sports equipment (what to buy when I don’t even exercise nor do any sports?!), spending on parents’ medical expenses, medical equipment and personal computers.
Speaking of the basic medical equipment that’s tax exempted, I was wondering if a blood pressure machine is considered an item in this category. If it is, it will be really useful to get one so that we can always keep our blood pressure in check. I checked on the IRB website for some definition of the basic supporting equipment that is tax exempted, but they didn’t have a list to specify what the items might be.
Is this blood pressure machine considered a medical equipment that can be tax exempted?
Does anyone know? Do share if you have experience and info in this area. If it isn’t something in the list yet, maybe it should be considered in the future to be added into the list.
So if you haven’t quite maxed out the relief from buying books, computers, medical or insurance policies, go get some last minute shopping done for your own benefit. It would benefit us all to make full claims against what we are given, provided you spend wisely on the things you need and those that bring true benefits to you.
