Taxable and Non-Taxable Income

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. 

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)

 

Income from Employment

Income from Trade, Business, Profession or Vocation 

Income Received in the Form of Government Grants:

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

Income from Property or Investments

Other Sources of Income

  • Are “love gifts” received by religious leaders taxable?

    Generally, cash gifts received by an employee or a self-employed individual are considered part of his income if the gifts accrue to him by virtue of his office or for services rendered.

    In this respect, if a person is exercising an employment or carrying out a vocation as a religious practitioner and receives cash gifts from the members of congregation or devotees, the gifts constitute income received by him for services rendered and are taxable.

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