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Individuals (For locals)

How your tax is calculated depends on whether you are a tax resident or non-tax resident

If you are a Tax Resident

Do use the tax calculator  (76KB) for tax resident individuals or the iPhone App IRAS SG to estimate your tax payable! 

Examples on how to compute your tax if you are a tax resident

Example 1 :

Mr Heng was 35 years old in 2013. He earned $50,000 in 2013. He has unutilised Parenthood Tax Rebate balance of $5,000 in his account. His chargeable income for the Year of Assessment (YA) 2014 is computed as follows:

 

 

$

$

Total Employment Income   50,000
Less: Donations        250
Assessable Income*   49,750
Less: Reliefs    
Earned Income Relief 1,000  
Qualifying Child Relief 4,000  
Employee CPF contribution relief 10,000 15,000
Chargeable Income*   34,750
* Find out what these terms mean from the Income Tax Glossary

Mr Heng's tax payable on his chargeable income of $34,750 is calculated as follows:
 
Tax on first $30,000 200.00
Tax on next $4,750 at 3.5%   166.25
Gross Tax Payable 366.25
Less: Parenthood Tax Rebate 366.25

Net Tax Payable

       -

 
 
 

Example 2 :

Mr Fong was 64 years old in 2013. He earned $250,000 in 2013. His chargeable income for the Year of Assessment (YA) 2014 is computed as follows:

 

 

$

$

Total Employment Income   250,000
Less: Donations          250
Assessable Income*   249,750
Less: Reliefs    
Earned Income Relief 8,000  
Employee CPF contribution relief 6,375 14,375
Chargeable Income*   235,375
 
Mr Fong's tax payable on his chargeable income of $235,375 is calculated as follows:
 
Tax on first $200,000 20,750.00
Tax on next $35,375 at 18%     6,367.50
Gross Tax Payable 27,117.50

Net Tax Payable

27,117.50

 
 
 

If you are a non-tax resident

Do use the tax calculator   (67KB)  for non-resident individuals to estimate your tax payable! 

 

 

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Last Updated on 28 February 2014


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