{"id":4138,"date":"2024-02-05T06:40:29","date_gmt":"2024-02-05T06:40:29","guid":{"rendered":"https:\/\/glutenfreepleasure.com\/__proxy_domain\/contactone.com.sg\/?post_type=resources&p=4138"},"modified":"2026-05-21T15:57:19","modified_gmt":"2026-05-21T07:57:19","slug":"understanding-personal-tax-in-singapore","status":"publish","type":"resources","link":"https:\/\/glutenfreepleasure.com\/__proxy_domain\/contactone.com.sg\/resources\/understanding-personal-tax-in-singapore\/","title":{"rendered":"Understanding Personal Tax in Singapore"},"content":{"rendered":"
Personal Income Tax Rates for Residents<\/h5>\n

The personal income tax system for Tax Residents in Singapore is based on a progressive tax system. This means that a different tax rate is charged progressively as income increases. Simply put, your annual personal income will be divided into different income bands with a progressive tax rate attached to the next band. The highest personal income tax rate is currently fixed at 24% (which is 7% higher than the current headline corporate tax rate).<\/p>\n

Systemic Flow of Personal Income Tax Computation<\/h5>\n

\"\"<\/p>\n

Components of Personal Income Tax Computation<\/h5>\n\n\n\n\n\n\n
Employment Income<\/td>\nThis refers to the aggregation of your employment remuneration which can be found in the IR8A given to you by your company.<\/td>\n<\/tr>\n
Income from Your Trade, Vocation or Profession<\/td>\nThis refers to income from your sole proprietorship business and\/or partnership share of profits.<\/td>\n<\/tr>\n
Donations<\/td>\nDonations made to approved Institute of Public Characters (IPC) will be automatically reflected in your returns<\/td>\n<\/tr>\n
Reliefs<\/td>\nReliefs are granted depending on your eligibility for each of them. Reliefs available include:<\/p>\n
    \n
  • Earned Income Relief (EIR)<\/li>\n
  • CPF Cash Top-Up<\/li>\n
  • Supplementary Retirement Scheme (SRS)<\/li>\n
  • NSman Relief (for NSman, wife or parent of NSman)<\/li>\n
  • Spouse Relief<\/li>\n
  • Handicapped Spouse Relief<\/li>\n
  • Child Relief<\/li>\n
  • Parent\/Handicapped Parent Relief<\/li>\n
  • Grandparent Caregiver Relief (GCR)<\/li>\n
  • Handicapped Brother\/Sister Relief<\/li>\n
  • Provident Fund<\/li>\n
  • Life Insurance<\/li>\n
  • Course Fees<\/li>\n
  • Foreign Maid Levy (FML)<\/li>\n<\/ul>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

     <\/p>\n

    Personal Income Tax Filings are done once a year, and are based entirely on income accrued in a full calendar incepting 1 January and ending 31 December, both dates inclusive, for every year.<\/div>\n","protected":false},"excerpt":{"rendered":"

    Personal Income Tax Rates for Residents The personal income tax system for Tax Residents in Singapore is based on a progressive tax system. This means that a different tax rate is charged progressively as income increases. Simply put, your annual personal income will be divided into different income bands with a progressive tax rate attached […]<\/p>\n","protected":false},"featured_media":0,"parent":0,"menu_order":29,"template":"","category-resources":[149],"class_list":["post-4138","resources","type-resources","status-publish","hentry","category-resources-accounting-tax-guide"],"acf":[],"_links":{"self":[{"href":"https:\/\/glutenfreepleasure.com\/__proxy_domain\/contactone.com.sg\/wp-json\/wp\/v2\/resources\/4138","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/glutenfreepleasure.com\/__proxy_domain\/contactone.com.sg\/wp-json\/wp\/v2\/resources"}],"about":[{"href":"https:\/\/glutenfreepleasure.com\/__proxy_domain\/contactone.com.sg\/wp-json\/wp\/v2\/types\/resources"}],"wp:attachment":[{"href":"https:\/\/glutenfreepleasure.com\/__proxy_domain\/contactone.com.sg\/wp-json\/wp\/v2\/media?parent=4138"}],"wp:term":[{"taxonomy":"category-resources","embeddable":true,"href":"https:\/\/glutenfreepleasure.com\/__proxy_domain\/contactone.com.sg\/wp-json\/wp\/v2\/category-resources?post=4138"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}