Common filing mistakes
Declaring income from freelance, trade, business and vocation as 'Employment' or 'Other Income'
(This filing mistake has been observed to be made by:
- Taxi Drivers
- Property Agents
- Insurance Agents
- Private Tutors
- Commission Agents)
A person who derives income from freelance, trade, business or vocation will be considered a self-employed person.
Declare the income as trade income under item 3 'Trade, Business, Profession or Vocation'.
When Paper Filing:
A property/Insurance agent earning commission income will not be in the Auto-Inclusion Scheme for Employment Income which is only applicable to employees. He has to declare his commission in the 'Trade, Business, Profession or Vocation' section.
Claiming the amount contributed last year as a self-employed person in the Form B to qualify for Self-Employed CPF Relief
CPF relief for a self-employed is automatically allowed based on information from CPF Board. You need not indicate your claim in the Form B.
Self-employed CPF relief is allowed if :
- you have declared trade income
- you are making the contribution as a self-employed person
- your contribution was made before 31 Dec of the preceding year.
Find out more about:
Starter Guide for the Self-Employed (215KB)
Tax obligations of a Business Operator (part 1 of 2) (1.4MB)
Tax obligations of a Business Operator (part 2 of 2) (1.9MB)
A guide for sole-proprietors / self-employed
Keep proper records & accounts
Prepare statement of accounts
Make Medisave Contributions
Am I an Employee or a Self-Employed?
Working sheets for commission agents (23KB), taxi drivers (23KB) and persons engaged in general trade (23KB)