Rikvin’s detailed Free Online Singapore Personal Income Tax Calculator helps you to estimate your annual tax payable.
The information in this summary is intended to be no more than a general overview of your tax position. In the interest of simplicity, some details have been omitted. If you need professional advice or assistance, please call us at +65 6320 1888.
Singapore’s Personal Income Tax rate ranges from 0% to 22%.
The highest personal income tax rate of 22% are for individuals with an annual taxable income of more than $320,000.
More details about Singapore Resident Tax Rates can be found here.
You are a tax resident of Singapore if you are:
- A Singapore Citizen (SC) or Singapore Permanent Resident (SPR) who resides in Singapore (except for temporary absences), or
- A foreigner who has lived or worked in Singapore for 183 days or more in the year prior to the YA (excluding company directors).
Singapore’s Personal Income Tax adopts a progressive model where higher-income earning residents are required to pay a proportionately higher tax rate.
The Personal Income Tax rate in Singapore is capped at 22% currently.
More information: Singapore Personal Income Tax.
Non-residents' employment income is taxed at either a flat rate of 15% or the progressive resident tax rates (see table above), whichever is higher.
More information: Singapore Personal Tax for Non-Residents.
If your yearly income is S$22,000 or more, you are required to pay income tax in Singapore.
You are generally exempt from paying income tax if:
- You have a yearly gross income of $22,000 or less;
- You do not earn any income in Singapore
Read more here.
Income tax deductions in Singapore refer to personal reliefs, rebates, expenses and donations.
Tax breaks are provided to promote social and economic goals such as filial piety, family formation, and skill development.
Some examples of tax deductions include:
- Employment expenses
- Medical expenses
- Rental expenses
- Self-improvement tax relief
- Angel Investors deduction
Note: Personal income tax relief is limited to $80,000 per Year of Assessment.
More on tax deductions.
The tax year for personal taxes is the calendar year, which runs from 1 January to 31 December.
Personal tax returns must be filed by 15th April (paper filing, or 18th April (e-filing).
Depending on his or her work and tax residency status, IRAS requires each taxpayer to complete one of the following forms:
- Employed individuals (tax resident): Form B1
- Self-employed individuals: Form B
- Non-resident individuals: Form M
If you are an employee, you are not required to prepare the Form IR8A.
Your employer must submit Form IR8A for all employees working in Singapore by March 1st of each year.
Do you need help with your personal taxes?
Figuring out your personal taxes is often an arduous task, so why not leave it to the professionals? Rikvin will ensure that your personal income tax is filed correctly and on time.