| Deductible | Non-Deductible |
|---|
Accounting fee
Administrative expenses
Advertisement
Auditors' remuneration | Amortisation |
Bad debts (trade debtors)
Bank charges
Book-keeping services Borrowing costs as a substitute for interest expense or to reduce interest costs | Bad debts (non-trade debtors) |
Commission
CPF, skills development levy, foreign workers' levy | Certificate of entitlement (COE) for motor vehicles*
|
CPF-related
Statutory contributions to CPF
Ad-hoc contributions to employees' Medisave Account (from 1 Jan 2018, the maximum deduction allowed as medical expenses, subject to the medical expenses cap, will be raised from $1,500 to $2,730 per employee per year)
Topping-up of Employees' CPF Minimum Sums
Voluntary cash contributions to self-employed persons' Medisave Account | CPF-related
Voluntary contributions to CPF (refers to CPF contributions exceeding the statutory rate) Interest incurred on late CPF contributions |
Directors' fees
Directors' remuneration | Depreciation (you may instead claim
capital allowances )
Dividend payments made on preference shares
Donations |
Employee Equity-Based Remuneration (EEBR) Scheme
Employment Assistance Payment (EAP)
Entertainment
Exchange loss (trade and revenue in nature)
Exhibition expenses | Entrance fee (country club or other clubs)
Exchange loss (non-trade or capital in nature)
Expenses incurred before commencement of business |
| | Fixed assets written off
Fixed assets acquisition cost (you may instead claim
capital allowances )
Fines |
| | Goodwill payment |
Employee's income tax borne by employer (in accordance with employment contract)
Insurance premium (group term life insurance where employees are the intended beneficiaries, keyman insurance, workman injury compensation)
Insurance for underwriting bad trade debts
Interest expenses Interest incurred on late payment of fees to a Management Corporation for a Strata Title Plan (MCST)
Interest incurred on loans to re-finance earlier loans or borrowings Intellectual property (IP) licensing expenditure | Impairment loss on non-trade debts
Singapore income tax and any tax on income in country outside Singapore
Installation of fixed assets
Interest expenses on non-income producing assets (
interest adjustment) |
Legal and professional fees (trade and revenue transactions) | Legal and professional fees (non-trade or capital transactions) |
Medical expenses (restricted to 1%/ 2% of total remuneration if company is under Portable Medical Benefits Scheme (PMBS) or Transferable Medical Insurance Scheme (TMIS)
Motor vehicle expenses (such as upkeep, maintenance, running and financing costs of goods / commercial vehicles, e.g. van, lorry and bus) | Medical expenses (amount exceeding 1%/ 2% of total remuneration if company is under PMBS or TMIS)
Motor vehicle expenses (S-plated and RU-plated cars) |
Office upkeep | |
Periodicals & newspapers
Postage
Printing and stationery
Property tax
Provision for bad and doubtful debts (specific) (note
impairment loss on trade debts)
Provision for obsolete stocks (specific) | Penalties
Prepaid expenses (not relating to the relevant basis period)
Private and domestic expenses (expenses not incurred for business purpose)
Private hire car
Provision for bad and doubtful debts (general)(note
impairment loss on trade debts)
Provision for obsolete stocks (general) |
Reinstatement costs (expenses incurred to reinstate
premises to its original condition prior to vacating
it at the end of the tenancy agreement) Rental of business premises
Registration of patents, trademarks, designs and plant varieties
Repairs and maintenance
Research and development | Renovation or refurbishment works (you may claim
Section 14Q deduction for qualifying expenditure incurred from 16 Feb 2008) |
Retrenchment payments
Contractual retrenchment payments
Ex-gratia retrenchment payments and
outplacement support costs, where there is no complete cessation of business | Retrenchment payments
Ex-gratia retrenchment payments and
outplacement support costs, where there is a complete cessation of business. |
Secretarial fees
Staff remunerations (salary, bonus and allowances)
Staff training
Staff welfare/benefits **
Statutory and Regulatory expenses
Stock obsolescence
Supplementary Retirement Scheme (SRS) | |
Tax fees (service fees paid to tax agent)
Telephone bills
Transport (public transport and goods / commercial vehicles)
Travelling | Transport (S-plated and RU-plated cars) |
Wages
Water & electricity | |