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 Original Assessment

This is the tax bill computed based on the tax form you submitted and/or information transmitted by organisations participating in the Auto-inclusion Scheme.

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

Notice of Amended Assessment

When we have amended your tax assessment, you will receive a Notice of Amended Assessment. 'Previous assessment' shown is the tax amount of your previous tax bill.

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

Notice of Additional Assessment

When we have revised your tax assessment and you need to pay the additional taxes, you will receive the Notice of Additional Assessment. 

The additional tax you need to pay is shown as 'Additional tax payable as per this assessment'.

Notice of Repayment

When you do not need to pay tax and there is tax to be refunded to you, you will get a 'Notice of Repayment' instead of a Notice of Assessment. 

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

Estimated Notice of Assessment

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

When you have filed your tax return, we will review your assessment and send you a revised tax bill.

 

Tax Terms on Tax Bills

Year of Assessment (YA)

'Year of Assessment (YA)' 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

YA 2017, is for income earned from 1 Jan to 31 Dec 2016.

Assessable Income

'Assessable income' is your total income after deducting allowable expenses and approved donations. 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. 'Property' income shown is the net rental income after deducting your rental expenses.

Personal Reliefs

'Personal reliefs' are the deductions which help you save tax. Find out more about reliefs.

Chargeable Income

'Chargeable income' is your 'assessable income', after deducting 'personal reliefs'.

Tax Payable

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

Example

'Tax payable by 3 Jun 2017 $2,087.14 DR' means you must pay $2,087.14 to IRAS by 3 Jun 2017. 'DR' means Debit.

Tax Repayable/Discharged

'Tax repayable/discharged' refers to the amount of tax that will be refunded to you.

Example

'Tax repayable/discharged as per this assessment $300 CR' means $300 will be refunded to you. 'CR' means Credit.

How to Read Your Tax Bill

 

 

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