Income Tax is payable one month from the date on your tax bill (Notice of Assessment).
Annual or 12-Monthly Payments
You can pay your Income Tax in one deduction or by up to 12 interest-free monthly instalments.
The instalment plan is based on the tax payable and a minimum monthly deduction amount of $20. Setting a minimum amount is necessary to improve our efficiency and manage the costs of collection.
12-Month Instalment Period
The 12-month GIRO instalment cycle normally starts in May and ends in April of the following year. However, if you join GIRO after May, the instalment deduction will commence in the month after your GIRO application is approved and end in April of the following year.
Date of Deductions
The deduction will be made on the 6th of each month. Where a deduction date falls on a weekend or public holiday, the deduction will be made the next working day.
The deduction will be reflected with a transaction code "ITX" in your bank statement or passbook.
Alternatively, you can log in to myTax Portal and select "Account" > "View Payment Plan" > "View Plan" to check if the GIRO deduction is posted to your Income Tax account. Your GIRO payment will be posted into the tax account within three working days after the deduction date.
If the deduction is not successful, we will attempt to deduct the amount again on the 20th of the same month. If the second attempt is also not successful, the instalment amount will be deducted together with the following month's instalment. For example, if the instalment is $100 per month and the GIRO deductions are not successful on the 6th and 20th of June, we will attempt to deduct $200 ($100 for June and $100 for July) in July.
The GIRO plan will be cancelled if the deduction is not successful for two consecutive months. Once it is cancelled, you will need to pay all overdue tax immediately. Hence please ensure there are sufficient funds in your bank account before the deduction date. No reminders will be sent for unsuccessful deductions. Some banks may impose a service charge for unsuccessful deductions.
Provisional Instalment Plan (PIP)
Once you are on our GIRO payment scheme, future instalment payments for your taxes will continue in May each year to April of the following year based on a provisional amount.
The amount deducted will be based on the instalment amount as per your previous year's tax. The PIP is to allow you to enjoy the maximum number of monthly instalments.
Automatic Revision of PIP
Your PIP will be revised when your tax assessment for the year is finalised. The revised instalment plan will be sent to you together with your Notice of Assessment.
The tax instalments that you have paid will be used to offset your tax assessed. The instalments for subsequent months will be adjusted accordingly.
When the total amount paid exceeds the actual tax assessed, any excess payment will be refunded to you. There is no need for you to make a claim for refund.
Request for Revision or Cancellation of PIP
You can request a revision of the provisional tax amount if you estimate your income (and tax payable) to be different from the previous year's amount. You can use the Income Tax Calculator to estimate your tax payable. Your first monthly provisional deduction will start in May of the year.
You can also request to cancel your PIP if you cease to have taxable income. To revise or cancel your PIP, please contact IRAS on 1800 356 8300 or email us.
Submitting GIRO Application in Time
To avoid late payment penalties, please allow at least two weeks before the payment due date for us to process your GIRO application.
We will write to you when the GIRO application has been processed. You can view your payment plan details by logging in to myTax Portal.