Clubs, trade associations, MCs and town councils

Clubs, trade associations, MCs and town >

Tax Rate

Clubs, trade associations, MCs and town councils

Claim refund

Exemption of foreign sourced income

File tax return (Form P1)/Update address or office bearer

How to pay

If you did not pay or paid late

If you fail to submit your tax return or are late in submitting your tax return

Know what is taxable and what is not

Loss carry-back relief

Tax computation and basic tax calculator

Tax obligations for Bodies of persons pending liquidation or de-registration

Tax Rate

What are Bodies of persons?

What if tax amount is not correct

What is the rate of tax for bodies of persons?

(This Tax Rate is only applicable to YAs prior to YA 2010. With effect from YA 2010, the chargeable income of a body of persons will be taxed at the same tax rate structure as a company.)

	Chargeable Income ($)	Rate (%)	Gross Tax Payable ($)
On the first	2500	6	150
On the next	2500	9	225
On the first	5000		375
On the next	2500	12	300
On the first	7500		675
On the next	2500	15	375
On the first	10000		1050
On the next	5000	20	1000
On the first	15000		2050
On the next	5000	23	1150
On the first	20000		3200
On the next	5000	25	1250
On the first	25000		4450
On the next	10000	30	3000
On the first	35000		7450
On the next	15000	40	6000
On the first	50000		13450
On the next	50000	50	25000
On the first	100000		38450
On the next Over	$100,000 @	55%

Where the effective rate of tax is arrived at by dividing the income tax chargeable on its chargeable income by the amount of that income exceeds the prevailing corporate tax rate, the rate of tax applicable to the club, trade association or similar institution on every dollar of its chargeable income will be capped at the prevailing corporate tax rate, i.e:

1) If effective rate of tax = Tax payable on Part B rates/Chargeable income x 100% = X

2) If effective rate of tax = Tax payable on corporate tax rate/Chargeable income x 100% = Y

If X > Y, the effective rate of tax will be capped at Y

For YA 2002, a 5% rebate is given on the tax payable.

For more details, please refer to the tax computation.

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