1. Declaration of Trade Income

I am a:

  • Commission Agent (e.g. Insurance Agent, Real Estate Agent)
  • Hawkers
  • Private Tutor
  • Taxi Driver, Grab / Uber Driver

I declare my income as Employment or Other Income in Form B/B1.

You are considered a Self-employed person.

When e-Filing :

You should declare your income as trade income under item 2 "Trade, Business, Profession or Vocation".

When Paper Filing :

  • Form B : You should complete items 6 to 9 on Page 2.
  • Form B1 : You should complete item 1 "Trade, Business, Profession or Vocation" of Appendix 1 and item 3 "Other Income" on Page 2 of Form B1

2. Declaration by Property/Insurance Agents

I am a Property / Insurance agent . I do not have to declare my income as my company is participating in the Auto-Inclusion Scheme.

As an agent earning commission, your income will not be auto-included in your assessment.

You have to declare your commission under "Trade, Business, Profession or Vocation". As you are providing a service, your Revenue is equal to your Gross Profit. Your Adjusted Profit is equal to Revenue/Gross Profit minus Allowable Business Expenses.

Pre-filling of Commission Information:

  • If your company is participating in the e-Submission of Commission, your commission information will be pre-filled in the electronic tax returns. You will just need to log in to check the pre-filled commission income and submit your return.
  • You can amend the pre-filled commission income in the “Revenue” field (e.g. to include any additional commission), enter your claim for business expenses incurred in the “Allowable Business Expenses” field, and proceed with your tax filing.

3. Declaration of Estimated Income/Expenses

I declare an estimated trade income as I do not keep proper records of my daily earnings / commission / expenses.

As a self-employed person, you are required to keep proper records and accounts of your business transactions.

Estimates and improper records are not acceptable. For more information, please refer to "Keeping proper records and accounts".

4. Declaration of Partnership Salary

I declare my partnership salary as Employment /Sole-Proprietorship Income in Form B/B1.

You should declare your partnership salary / bonus / CPF / benefits (remuneration) as Partnership Income.

When e-Filing :

You should declare it as 'partner's salary, bonus & CPF' under item 2 "Trade, Business, Profession or Vocation" > "Partnership".

When Paper Filing :

  • Form B : You should complete item 1b (4) on Page 2.
  • Form B1 : You should complete item 1 "Trade, Business, Profession or Vocation" of Appendix 1 and item 3 "Other Income" on Page 2 of Form B1.

5. Declaration of Partnership Income

I do not know my share of the Partnership income, so I:

  1. do not declare it in my Form B ; or
  2. declare the total Partnership Income in my Form B.

You should obtain your share of the Partnership income from the precedent partner and declare it in your Form B before submitting it.

New! However, if the precedent partner of the partnership e-Files the Form P for Year of Assessment 2017 by 26 Feb 2017, the partnership allocation will be pre-filled in your Form B. 

6. Claim for Partner's Expenses in Form B

I am a partner and I claim expenses in my Form B when expenses are already charged to the partnership’s Profit and Loss Account.

 

You should only claim the partner’s expenses incurred wholly and exclusively in the production of your partnership income, provided you have not claimed against the partnership’s income in the Form P or your other income. 

Examples of Allowable Expenses:

  1. Interest expenses on monies borrowed to invest in partnership
  2. Subscription to professional bodies not reimbursed by the partnership business
  3. Public transport for business purposes (e.g. taxi fare) not reimbursed by the partnership business

Examples of Disallowable Expenses:

  1. All expenses incurred on usage of private vehicles even if trips were for business purposes
  2. Subscription / entrance fees to private social clubs

 

7. Claim for Partner's Salary in Form P

Claiming salary, bonus and CPF paid to partner under 'Allowable Business Expenses' in Form P.

Partners' salary, bonus, CPF are not to be included under Allowable Business Expenses in Form P. You should enter it under the column: Partner's salary, Bonus & CPF in Form P.

8. Not Filing Form B

My Precedent Partner has submitted Form P, so I do not need to file my Form B or declare my share of Partnership Income in my Form B.

You are still required to file your Form B to declare your share of the Partnership Income and your income from other sources, if any.

New! However, if the precedent partner of the partnership e-Files the Form P for Year of Assessment 2017 by 26 Feb 2017, the partnership allocation will be pre-filled in your Form B.

 

9. Not Filing Form P

My partner(s) had already sent in his/her Form B, so I do not need to file the Form P.

The Precedent Partner is still required to file the Form P on the partnership income.

10. Declaration of Partnership Rent

I declare my Partnership Rent income as Other Income .

When e-Filing :

You should declare your share of partnership rent income under item 2 "Trade, Business, Profession or Vocation" > "Partnership" > "Other Income and Donations from this Partnership" > "Rent".

For Paper Filing :

  • Form B : You should complete item 1b (6) on Page 2.
  • Form B1 : You should complete item 1 "Trade, Business, Profession or Vocation" of Appendix 1 and item 3 "Other Income" on Page 2 of Form B1.

11. Claim for Self-Employed CPF Relief

I have contributed CPF as a self-employed person last year, therefore I should indicate the amount contributed in my Form B so as to qualify for the relief.

CPF relief for a self-employed is allowed automatically based on information received from CPF Board. You need not indicate your claim.

Self-employed CPF relief is allowed if :

  • you have an assessable trade income
  • you are making the contribution as a self-employed person
  • your contribution was made before 31 Dec of the preceding year.

More on Filing and Filing Mistakes/Errors

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