It’s the time of the year for you to file your Income Tax Returns!

Here’s all you need to know to ensure proper filing. 

First things first...
 

When must I file my Income Tax Return by?
 

Income Tax Returns for earnings from 1 January – 31 December 2023 must be filed by 18 April 2024 (e-filing) or 15 April 2024 (paper filing). 

Be sure to file your taxes by the deadlines to avoid any late penalties.

⚠️ IMPORTANT

Driver-partners are responsible for their own tax affairs and must ensure that the information in their Income Tax Returns are accurate and complete. Where necessary, driver-partners may amend the pre-filled information.

After reviewing that the information is accurate and complete on myTax Portal, you must click on “Submit” to submit your Income Tax Return to IRAS.

 

How do I access my Income Tax Return?
 

Log in to myTax Portal using your Singpass. 

Annual statements
 

I can’t remember how much I have earned on the Gojek platform in 2023. Can Gojek help me?
 

Your Annual Earnings Statement has been sent to your email address (as registered with Gojek) in the first week of February 2024.

I am unable to locate/did not receive an annual statement issued by Gojek. What should I do?
 

Check your spam folder for the subject ‘Driver Income Summary’ from Gojek (postmaster@mailer.go-car.co.id). If you’re certain you haven’t received it, please submit a report via in-app help (see below).

I am unable to locate my Annual Statement and / or need clarification on the details in my Annual Earnings Statement. How can I contact Gojek for help? 
 

You can submit your request via in-app Help Center, as follows: 

1. Click on your profile picture

2. Help center

3. Incentive, Performance & Earnings

4. Annual Income Statement & Weekly Payment Statement Enquiries
 

Select the relevant issue type in the form and provide the details requested. Our GoTroops will get back to you within 2 working days.
 

If you have questions with regards to tax filing, you can reach out to IRAS directly - more details are provided in the last section of the blog.

IRAS’ Pre-filling of Income Initiative
 

I opted-in to IRAS’ Pre-filling of Income Initiative. What do I need to do now?
 

Log in to myTax Portal from 1 March to 18 April 2024, and you will be able to view the information which Gojek has submitted for you in your “Income, Deductions and Reliefs Statement (IDRS)”.

Your IDRS has been pre-filled based on the details on your Annual Earnings Statement. Please verify the pre-filled information and declare your other sources of income (e.g. rental income), if any. If the pre-filled amount is different from your records, you may clarify the difference with us and amend the 2-line / 4-line statement under the “Trade, Business, Profession or Vocation” section of the Income Tax Return.

⚠️ IMPORTANT

Driver-partners are responsible for their own tax affairs and must ensure that the information in their Income Tax Returns are accurate and complete. Where necessary, driver-partners may amend the pre-filled information.

After reviewing that the information is accurate and complete on myTax Portal, you must click on “Submit” to submit your Income Tax Return to IRAS.
 

Will all my earnings be pre-filled on the IRAS’ portal?
 

Your income will be presented as such:

Please note that the above income components have been included in the information submitted to IRAS under the Pre-filling of Income Initiative and will be reflected in the IDRS.

Please note that the company’s name will be reflected as “VELOX DIGITAL SINGAPORE PTE. LTD.” in the IDRS.
 

I missed the opportunity to opt in to the Pre-filling of Income Initiative. Can I do it now?
 

Unfortunately, we are no longer able to accept opt-ins for this tax period. If you have not opted in, please log into myTax Portal using your Singpass to e-File your Income Tax Return:

• Under the “Trade, Business, Profession or Vocation” section of the Income Tax Return, at the line “Sole- Proprietorship/Self-Employed Income”, click on the “Update” button
• Select “Taxi/Private Hire Car Driver” as your “Nature of Business”
• Complete the 2-line (for revenue $200,000 or less) or 4-line (for revenue more than $200,000) statement based on your Annual Earnings Statement
• Note that the 60% Deemed Expenses will be checked automatically by the system when your chosen “Nature of Business” is “Taxi/Private Hire Car Driver” (see image below). 

Please ensure that the accounting period for your 2023 earnings is indicated as from 01/1/2023 to 31/12/2023.
 

What should I do if I receive a letter or SMS notification from IRAS that I have been selected for No-Filing Service (NFS)? 
 

If you receive a letter or SMS informing you that you have been selected for NFS, you are not required to file an Income Tax Return. You will be able to verify your details by logging in to myTax Portal from 1 Mar 2024 and will have the option to make relevant changes via e-filing. Your Notice of Assessment (NOA) or tax bill (digital or paper format) will be sent to you from end Apr 2024 onwards. More information on NFS here.
 

Business expenses
 

What are deemed business expenses and how is the 60% deemed business expenses calculated?
 

With effect from Year of Assessment 2019, to simplify tax compliance and eliminate the need to determine the tax-deductibility of expenses incurred, IRAS will deem 60% of your gross driving income as your business expenses if you opt in for 60% Fixed Expense Deduction Ratio (FEDR).

For example, if your total revenue from driving is $100,000, $60,000 will be deemed your business expenses. This means that the net income that is subject to tax is $40,000.
 

My actual business expenses are more than 60% of my gross income. Is it possible to claim the actual amount of my expenses? 
 

Yes. All you need to do is select Actual Allowable Business Expenses in your Income Tax Return and declare the amount of allowable business expenses incurred. Selecting this option would commonly make sense only if your actual claimable expenses are more than 60% of your income.

Record keeping requirement
 

You are required to keep proper records of your business expenses, including retaining all supporting documents for 5 years, even if you have opted for the 60% FEDR.

However, if your total driving income is less than $200,000 for the past 2 financial years, you will qualify for Simplified Record Keeping (SRK), whereby you will only need to maintain simple records (e.g. a listing of your expenses) and are not required to keep supporting documentation (e.g. receipts and invoices). For more information on SRK, please refer to the e-Tax Guide “Simplified Record Keeping Requirements for Small Businesses”.

Gojek will not be responsible for any record-keeping.

Resources:  
 

Gojek FAQ on pre-filling
IRAS information on Pre-filling of Income

IRAS information on 60% Fixed Expense Deduction Ratio (FEDR)

Apply for Giro Payment Plan
Preparing a 2-line or 4-line statement

Tax Season 2024 – All You Need To Know

For assistance from IRAS:
 

• IRAS Bot, virtual assistant on tax filing matters
• Chat online with IRAS
• Call 1800 356 8300 
• Login to myTax Portal to send an email by clicking on <myTax Mail> followed by <Compose Mail> to compose your enquiry