A deduction is usable only when it applies to the relevant tax year, the taxpayer is eligible, and the required evidence is available. Reusing an amount from a prior year without checking current announcements may lead to an incorrect filing or a request for additional documents.
Organize your documents by category
- Personal and family details: marital status, children, and parents who meet the eligibility criteria.
- Savings and insurance: certificates from insurers and fund managers; separate each type of deduction and check any combined limits.
- Donations: receipts or e-Donation records, and confirmation that the recipient organization and donation method qualify.
- Tax already paid or withheld: withholding tax certificates and payment records.
For tax year 2026, start with the Revenue Department's 2026 tax forms and supporting documents. Then review the explanation for each type of deduction and check the information in D-MyTax. Do not assume that an item displayed by the system replaces your own eligibility check.
Calculate the effect on tax correctly
Tax is calculated on net income after allowable expenses and deductions, using progressive rates. A deduction lowers the tax base; it does not produce a refund equal to the deduction amount. See the Revenue Department's personal income tax calculation examples and confirm the rates for your tax year.
Video scope: The referenced video discusses inflation, debt, emergency savings, diversification, and dollar-cost averaging (DCA). It does not list 2026 tax deductions. This article therefore relies directly on Revenue Department forms and information for its tax content.
The original video remains linked on this page, but it is not evidence for the tax claims in this article.