Different tax rates apply for tax residents and non-residents.
Prevailing tax rates for resident individuals
Tax payable is calculated at progressive rates on your chargeable income.
Example:
If your chargeable income (total income net of donations and tax reliefs) for Year of Assessment (YA) 2013 is $140,000, your tax payable would be calculated as below:
| First $120,000 |
$7,950 |
| Next $20,000 at 15% |
$3,000 |
| Total tax payable |
$10,950 |
You may use the Resident Tax Calculator to calculate your tax as a tax resident.
Tax rates for resident individuals
From YA 2012 onwards
| Chargeable Income |
Rate (%) |
Gross Tax Payable ($) |
First $20,000
Next $10,000 |
0
2 |
0
200 |
First $30,000
Next $10,000 |
-
3.5 |
200
350 |
First $40,000
Next $40,000 |
-
7 |
550
2,800 |
First $80,000
Next $40,000 |
-
11.5 |
3,350
4,600 |
First $120,000
Next $40,000 |
-
15 |
7,950
6,000 |
First $160,000
Next $40,000 |
-
17 |
13,950
6,800 |
First $200,000
Next $120,000 |
-
18 |
20,750
21,600 |
First $320,000
Above $320,000 |
-
20 |
42,350 |
From YA 2007 to YA 2011
| Chargeable Income |
Rate (%) |
Gross Tax Payable ($) |
First $20,000
Next $10,000 |
0
3.50 |
0
350 |
First $30,000
Next $10,000 |
-
5.50 |
350
550 |
First $40,000
Next $40,000 |
-
8.50 |
900
3 400 |
First $80,000
Next $80,000 |
-
14 |
4 300
11 200 |
First $160,000
Next $160,000 |
-
17 |
15 500
27 200 |
First $320,000
Above $320,000 |
-
20 |
42 700 |
For YA 2008, YA 2009 and YA 2011, a personal income tax rebate of 20%, up to a maximum of $2,000 is granted.
Prevailing tax rates for non-resident individuals
Tax payable is calculated at the non-resident flat rate of 15% (without tax reliefs) on your chargeable income or the progressive resident rate, whichever results in a higher tax amount.
Example:
If your chargeable income for YA 2013 is $80,000 (you earned $80,000 in the year 2012), your tax payable would be calculated as below:
| Tax at non-resident rate ($80,000 @ 15%) |
$12,000 |
| |
|
| Tax at resident rate |
$3,350 |
| |
|
As the tax payable at non-resident rate is higher, you will be taxed at non-resident rate. Your tax payable is $12,000.
|
You may use the Non-Resident Tax Calculator to calculate your tax as a non resident.
Tax rates for non-resident individuals
| Type of Income |
Tax Rate (%) |
| Employment |
15% or progressive resident rates, whichever gives rise to a higher tax amount |
| Director's fees |
20% |
| Rent from property |
20% |
| Any other income |
20% |