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This is how you set up ipaymy to reduce your IRAS tax payments

[Use “WHATCARD20” promo code to get $20 off your first ipaymy transaction!]

Two weeks ago, I wrote an introductory article about how one is able to receive cashback from mandatory IRAS tax payments. In this article, I will explain this in greater detail and address common questions on using ipaymy’s services for IRAS tax payments.

Do I need to set up a new payment mode in IRAS?

No, you do not need to do so. If you are already on Giro payment scheme (like me), all you need to do is create an account on ipaymy, and set up a one-time / recurring payment to IRAS. Then, you need to schedule a payment before your Giro deduction date. Once IRAS receives your payment from ipaymy, they will not deduct it from your bank account. If you have set this up as monthly tax payment, IRAS will not debit your bank account as long as ipaymy pays this amount.

Will I pay my income tax twice in this arrangement?

In the event that you schedule an ipaymy payment too close to the processing date of IRAS, it is entirely possible that your UOB One card is charged the monthly tax payment,while IRAS continues to debit the balance in your bank account. In this scenario, you are pre-paying your income tax; this will result in the shortening of your payment schedule by 1 month (IRAS will automatically make this adjustment).

Does the “WHATCARD20” promo code work for recurring payment?

Yes, however, cashback of $20 only applies to first-time users of the service on their first transaction. Therefore, if you schedule Giro payment over 12 months, you will only get this rate on your first transaction.

Does the UOB One card work with ipaymy? There are a couple of transactions which are not recognized by UOB as eligible spending

Yes, it works. I have verified this with the business development manager at ipaymy.

Does this work with miles cards?

Absolutely! We are writing from the perspective of UOB One card, because it is the only card that has cash rewards greater than that of the admin fee. If you transact with a miles card such as Citi Premiermiles, you are effectively buying miles earned on the credit card (paying with the admin fee).

Step-by-step process


You don’t have to change your existing IRAS payment methods to take advantage of this opportunity to earn cashback on your IRAS tax payments. Once you have set up your monthly payment to IRAS via ipaymy, your bank balance will not be deducted as long as you schedule the ipaymy payment before the IRAS processing date. In a rare event, you may pay twice (for one month, pay via ipaymy as well as having your bank account debited), but because of this prepayment, you shorten your payment schedule by a month :slight_smile:


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Insurance payments does not qualify for UOB one rebate if I read it correctly?

would it be possible to schedule like 5 different IRAS payments via ipaymy in order to hit the minimum 5 purchases a month on the same date for the UOB One card?

Hi @fxmac,

Yes! however do note that the admin fee is higher because the “WHATCARD” promo code only works for the 1st transaction.

Hi there, I have been charged both times through ipaymy (scheduled payment on 30th in previous month), while the income tax instalment debited on the 7th. Should I space it out further?

I have called up IRAS and checked, and it turns out you need to set the payout period at the precedent month, in order for them not to debit your account in the current month. Say typically GIRO deduct at between 4-6 July, you will need to set payout date by 30 June, in order for the system not to deduct in July.