How to Read Your Tax Bill

'Notice of Assessment' refers to your tax bill. It shows the types and amount of income brought to tax, deductions claimed, and the amount of tax payable by you or tax repayable to you.

Types of Income Tax Bills (Notice of Assessment - NOA)

Notice of Assessment (Original)

This is the tax bill computed based on the tax form(s) that you have submitted and/or information sent by organisations participating in the Auto-Inclusion Scheme (AIS).

The tax you need to pay is shown as 'Tax Payable'.

Notice of Assessment (Amended)

If we amend your tax assessment, you will receive a Notice of Amended Assessment. The 'Previous assessment' shown is the amount of tax payable in your previous tax bill.

If there is any credit in your tax account, we will provide you with a refund of the credit amount.

Notice of Assessment (Additional)

If we revise your tax assessment, you need to pay the additional taxes. You will receive the Notice of Additional Assessment and the additional tax you need to pay is shown as 'Additional Tax Payable'.

Notice of Assessment (Repayment)

If there is any credit amount to be refunded to you, you will receive a Notice of Repayment instead of a Notice of Assessment.

Notice of Assessment (Estimated)

If you have not filed your tax return by the due date, we may estimate your tax based on information available and send you an Estimated Notice of Assessment. The estimated tax is shown as 'Estimated Tax Payable'.

 

Tax Terms on Tax Bills

New Taxpayers can look forward to redesigned notices with a fresh new look:

How to Read Your Tax Bill

Year of Assessment

'Year of Assessment' refers to the tax year in which income tax is calculated and charged. The assessment is for income earned in the preceding year, starting on 1 January and ending on 31 December.

Example

Year of Assessment 2021, is for income earned from 1 Jan 2020 to 31 Dec 2020.

Income

The amount reflected under 'Income' is your total income after deducting allowable expenses. The total income includes:

a) trade income for the accounting year;

b) employment income; and/or

c) other income such as rental income.

Example

'Employment' income shown is the net amount after deducting your employment expenses. 'Rental' income shown is the net amount after deducting your rental expenses.

Deductions

Deductions like donations and reliefs can help lower your income subjected to tax. Find out more here.

Chargeable Income

'Chargeable Income' is your 'Income', after subtracting 'Deductions'.

Tax Payable

'Tax Payable' refers to the amount of tax that you need to pay.

Example

'Tax Payable by 27 May 2021 $8,586.00' means you must pay $8,586.00 to IRAS by 27 May 2021, unless you are paying your taxes via GIRO.

Tax Repayable/Discharged

'Tax Repayable/Discharged' refers to the amount of tax that will be refunded to you.

Example

'Tax Repayable/Discharged $300' means $300 will be refunded to you.