Singapore Income Tax Calculator
Net Tax Payable: $3,350
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Income Tax Rate Structure
Chargeable Income Range | Tax Rate | Your Tax | Cumulative |
---|---|---|---|
First $20,000 | 0% | $0 | $0 |
Next $10,000 ($20,001-$30,000) | 2% | $200 | $200 |
Next $10,000 ($30,001-$40,000) | 3.5% | $350 | $550 |
Next $40,000 ($40,001-$80,000) | 7% | $1,085 | $1,635 |
Next $40,000 ($80,001-$120,000) | 11.5% | $0 | $1,635 |
Total Income Tax | 2.9% | $1,635 | $1,635 |
The Singapore Income Tax Calculator helps individuals calculate their personal income tax liability based on IRAS tax rates and brackets. This calculator includes all major tax reliefs and deductions available to Singapore tax residents and non-residents.
Singapore Income Tax Overview
Singapore operates a progressive income tax system with rates ranging from 0% to 22%. The tax system is designed to be competitive while ensuring adequate revenue for government services. Tax residents enjoy various reliefs and exemptions that significantly reduce their effective tax rates.
Income Tax Rates 2024
Resident Tax Rates
Chargeable Income | Tax Rate | Cumulative Tax |
---|---|---|
First $20,000 | 0% | $0 |
Next $10,000 ($20,001 - $30,000) | 2% | $200 |
Next $10,000 ($30,001 - $40,000) | 3.5% | $550 |
Next $40,000 ($40,001 - $80,000) | 7% | $3,350 |
Next $40,000 ($80,001 - $120,000) | 11.5% | $7,950 |
Next $40,000 ($120,001 - $160,000) | 15% | $13,950 |
Next $40,000 ($160,001 - $200,000) | 18% | $21,150 |
Next $40,000 ($200,001 - $240,000) | 19% | $28,750 |
Next $40,000 ($240,001 - $280,000) | 19.5% | $36,550 |
Next $40,000 ($280,001 - $320,000) | 20% | $44,550 |
Above $320,000 | 22% | Variable |
Non-Resident Tax Rates
Income Type | Tax Rate | Notes |
---|---|---|
Employment Income | 15% or resident rates | Whichever results in higher tax |
Director's Fees | 22% | Flat rate |
Professional Income | 15% or 22% | Depends on nature of income |
Other Income | 22% | Flat rate |
Tax Reliefs and Deductions
Personal Reliefs
Relief Type | Maximum Amount (2024) | Conditions |
---|---|---|
Earned Income Relief | $1,000 | Automatic for employment income |
CPF Contributions | $37,740 | Employee's mandatory contributions |
Life Insurance Premiums | $5,000 | Own life or spouse's life |
Course Fees | $5,500 | Skills-related courses |
SRS Contributions | $15,300 | Supplementary Retirement Scheme |
Family Reliefs
Relief Type | Amount (2024) | Conditions |
---|---|---|
Spouse Relief | $2,000 | Spouse's income ≤ $4,000 |
Handicapped Spouse Relief | $5,500 | Spouse with disability |
Child Relief | $4,000 per child | Unmarried child under 16 |
Qualifying Child Relief | $7,500 per child | Child with disability |
Parent Relief | $9,000 per parent | Parent aged 55+ with income ≤ $4,000 |
Handicapped Parent Relief | $14,000 per parent | Parent with disability |
Grandparent Relief | $3,000 per grandparent | Grandparent aged 55+ with income ≤ $4,000 |
Special Reliefs
Relief Type | Amount (2024) | Eligibility |
---|---|---|
NSman Relief | $3,000 | Operationally ready NSmen |
Wife of NSman Relief | $750 | Wife of operationally ready NSman |
Foreign Maid Levy Relief | 2x levy paid | Levy for caring for family members |
Working Mother's Child Relief | 15% of mother's income | Per qualifying child, max $25,000 |
Tax Residency
Tax Resident Criteria
- Singapore citizen or permanent resident
- Foreigner who stays/works in Singapore for 183+ days in a year
- Foreigner who stays/works in Singapore for 3 consecutive years
- Company director resident in Singapore
Benefits of Tax Residency
- Progressive tax rates (0% to 22%)
- Access to personal reliefs and deductions
- No tax on foreign-sourced income (with conditions)
- Double taxation relief
Non-Resident Tax Treatment
- Flat tax rates (15% to 22%)
- Limited reliefs available
- Tax on Singapore-sourced income only
- Withholding tax may apply
Income Types and Treatment
Employment Income
- Salary and Wages—Basic salary, overtime, commissions
- Bonuses—Annual bonus, performance bonus, ex-gratia payments
- Benefits-in-Kind—Company car, housing, club membership
- Stock Options—Gains from employee stock option schemes
Business Income
- Trade Income—Profits from business operations
- Professional Income—Income from professional practice
- Rental Income—Income from property rental
- Investment Income—Dividends, interest (if trade income)
Other Income
- Director's Fees—Fees for serving as company director
- Royalties—Income from intellectual property
- Gains—Capital gains (if trade income)
- Pension—Pension and annuity payments
Tax Filing and Payment
Filing Requirements
- Annual Income > $22,000—Must file tax return
- Director—Must file regardless of income
- Business Owner—Must file regardless of income
- Rental Income—Must file if receiving rental income
Important Dates
Activity | Deadline | Notes |
---|---|---|
Tax Return Filing | 15 April | For previous year's income |
Tax Payment | 31 May | Full payment due |
Instalment Plan | Various | 12-month instalment available |
GIRO Deduction | 31 May | Automatic deduction |
Tax Planning Strategies
Income Optimization
- Timing of Income—Defer bonuses to lower tax years
- SRS Contributions—Maximize retirement savings for tax relief
- CPF Top-ups—Voluntary contributions for additional relief
- Course Fees—Invest in skills development for tax relief
Family Tax Planning
- Spouse Income—Optimize spouse's income for reliefs
- Child Reliefs—Claim all eligible child-related reliefs
- Parent Support—Structure parent support for maximum relief
- Working Mother Relief—Optimize for working mothers
Investment Structuring
- Capital vs Income—Structure investments for capital gains
- Foreign Income—Utilize foreign income exemption
- Investment Holding—Use investment holding companies
- Timing of Disposals—Time asset disposals strategically
How to Use the Calculator
To use the Singapore Income Tax Calculator:
- Enter your annual employment income
- Select your tax residency status
- Provide your age and marital status
- Choose the assessment year
- Include personal reliefs like CPF, insurance, course fees
- Add family and dependent reliefs if applicable
- Include any special reliefs you're eligible for
- Click "Calculate" to see your tax liability
The calculator will show your chargeable income, tax brackets, and net tax payable.
Important Considerations
When calculating income tax in Singapore:
- Accurate Information—Ensure all income and reliefs are correctly entered
- Documentation—Keep receipts and documents for all claimed reliefs
- Professional Advice—Consult tax professionals for complex situations
- Regular Updates—Stay updated on tax law changes and new reliefs
- Filing Deadlines—Adhere to IRAS filing and payment deadlines
This calculator provides estimates based on current IRAS tax rates and relief amounts. Actual tax liability should be verified with official IRAS calculations and professional tax advice. For complex tax situations involving multiple income sources or business income, professional consultation is recommended.
Related calculators: Singapore Business Tax Calculator, CPF Calculator, Singapore Salary Calculator