What is Taxable, What is Not

All income earned in or derived from Singapore is chargeable to income tax.

Generally, overseas income received in Singapore on or after 1 Jan 2004 is not taxable, except in some circumstances. Please refer to Overseas Income Received in Singapore for more details.

Income earned may come from different sources such as:

• Employment
• Trade, Business, Profession or Vocation
• Property or Investments
• Other Sources (e.g. annuities, royalties, winnings or estate or trust income)

To learn more, select the relevant link to find out what is taxable and what is not.

• Salary, Bonus, Director's Fee, Commission and Others
• Gains from the Exercise of Stock Options
• Income Received from Overseas
• Pension
• Retrenchment and Retirement Benefits

See also:

FAQs on Tax Treatment of Employee Remuneration (Allowances, Benefits-in-kind)

• Income Received as a Self-Employed Person or Sole-Proprietor (commission agents, freelancers, taxi drivers, hawkers, etc.)
• Income Received through a Partnership
• Income Received from Overseas
• Income Received in the Form of Virtual Currencies

Income Received in the Form of Government Grants:

• PIC Bonus
• Special Employment Credit
• Wage Credit Payout

These Government grants are taxable in the Year of Assessment when the payouts are received. Only PIC Bonus and Wage Credit Payout will be auto-included in the tax return for self-employed taxpayers.

• Dividends
• Gains from Sale of Property, Shares & Financial Instruments
• Interest
• Rent from Property

• Annuity (recurring annual payments)
• Charge (alimony, maintenance payments…)
• Estate / Trust Income
• National Service Recognition Award (NSRA)
• Royalty
• Winnings (Toto, 4D...)
• Withdrawal from Supplementary Retirement Scheme (SRS)