Earn From Paying Income Tax: Reduced 1.75% Fee With CardUp Promo

Tax season is upon us again and it’s time to pay the Tax Man. 😮‍💨 To alleviate some of the pain, here is a great way to earn cashback or miles from your financial contributions to the nation. CardUp is offering a promo code SETHTAX24 that would get you a reduced 1.75% fee on its service.

If you’re not familiar with the service, you should read this guide first.

Promo Details

The code is available for a one-time use for both new and existing users and is only applicable for payments made with a Singapore-issued Visa or China Unionpay card. You can either set up a one-off payment or recurring payments and the discounted 1.75% fee will be applied when you use code SETHTAX24.

This offer is valid for payments scheduled on or before 31st August 2024 (6PM) and the last payment due date must be latest 25th March 2025.

If you are a new user, definitely make use of the new user promo code SETHISFY first to get your first payment of up to S$1,154 free before using SETHTAX24 as an existing user to enjoy both promos. (You can also take advantage of ipaymy’s new user promo for your first payment free as well.) The promo for the first payment is also not limited to income tax and you can use it for a variety of bills like insurance, rent, mortgage, renovation cost or just about any other vendor that accepts bank transfer as a payment method.


New user, use this first: sign up and use code SETHISFY Get S$30 off transaction fee ¹

(Free miles/cashback for a payment of about S$1,154!)
New or existing users: use code SETHTAX24Reduced 1.75% fee² for income tax payment
(Visa or China Unionpay only)
New or existing users: use code MCTAX24Reduced 1.99% CardUp fee³ for income tax payment
(Mastercard only)

Tap here for guide

Terms and conditions:

  1. Terms and conditions for SETHISFY
  2. Terms and conditions for SETHTAX24
  3. Terms and conditions for MCTAX24

Tip: set up a GIRO instalment plan with IRAS to pay monthly

You are able to set up an interest-free payment plan with IRAS to split your income tax over the next 12 months by having a GIRO arrangement. After that, simply set up a recurring payment via CardUp so that the monthly tax bill is paid off before the GIRO deduction. If you set up the payment well before the GIRO deduction date, the GIRO deduction will not happen and your tax bill will be paid entirely with CardUp.

Splitting your tax bill over 12 months is beneficial because there is no interest for this, and you also get to better manage your cashflow. For larger tax payments, this also lets you keep under any credit card rewards cap your card of choice may have. The Maybank Platinum Visa, for instance, is best used for S$300, S$1,000 and S$2,000 amounts each month.

You are also able to clear off your tax obligations earlier than the 12-month period if you wish. If you have a S$12,000 tax bill split into S$1,000 per month payments, you can pay S$2,000 per month for 6 months to clear it off early. The only restriction you have is that your total payments via CardUp cannot exceed the total tax bill you have e.g. if your tax is S$12,000, you can only set up payments up to S$12,000 in total.

Cards to use

There are a variety of miles and cashback cards you can use for CardUp. Refer to the guide for more details:

Alternate promo code for Mastercard transactions

If you rather use Mastercard, there is another promo code MCTAX24 which offers a reduced 1.99% fee. This is also open to both new and existing users, though new users should again use SETHISFY for a free first payment of up to S$1,134 before using this code subsequently.

Get more miles/cashback by putting bills on CardUp/ipaymy

For those who are already existing users, this would be a great way to get fees shaved off for your income tax payment. Those who are new to such a service should really take some time to look into setting it up for ongoing cashback/miles on bills that they are already paying monthly anyway.

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