Find out more about the one-off personal tax rebate that has been announced in the Singapore Budget speech for all tax resident individuals in Years of Assessment 2019 and 2024.

Rebate for tax residents

You will be considered as a tax resident for a particular Year of Assessment if you are:

  1. A Singapore Citizen who resides in Singapore except for temporary absences; or
  2. A Singapore Permanent Resident who has established a permanent home in Singapore; or
  3. A foreigner who has stayed/worked in Singapore (excluding director of a company) for 183 days or more in the previous year (i.e. year before the Year of Assessment).
New! As announced in Budget 2024, a Personal Tax rebate will be granted to all tax residents for Year of Assessment 2024. The rebate will be 50% of tax payable, capped at $200.

Amount of tax rebate

Year of AssessmentAmount of tax rebate
202450% of tax payable, up to $200
201950% of tax payable, up to $200

The tax rebate is calculated based on the following:

  1. The amount of tax payable after double taxation relief and other credits; and
  2. The amount of tax payable before offsetting the Parenthood Tax Rebate.
You do not need to apply for this rebate. IRAS will compute and grant the rebate automatically to all tax residents.

FAQs

1. Who is entitled to the Personal Tax Rebate?

The Personal Tax Rebate is granted to all tax residents who are taxable in Year of Assessment 2024.

2. How much is the Personal Tax Rebate for the Year of Assessment 2024?

The amount of Personal Tax Rebate is 50% of tax payable, capped at $200.

3. How do I claim or apply for the Personal Tax Rebate?

You do not need to claim or apply for the tax rebate. IRAS will compute and grant the rebate automatically to all tax residents.

4. If my tax payable for Year of Assessment 2024 is $0, can I carry forward the Personal Tax Rebate to offset against future tax payable?

The Personal Tax Rebate is a rebate granted specifically for Year of Assessment 2024 and cannot be carried forward to offset future tax payable. 

5. If my tax payable for Year of Assessment 2024 is $0, can I get a payout of $200 from IRAS?

You will not get any payout from IRAS as the Personal Tax Rebate is a rebate against tax payable.

6. I have received my tax clearance assessment for Year of Assessment 2024 before the Budget announcement, will I get a reassessment?

If you have been assessed as a tax resident for Year of Assessment 2024 in your tax clearance assessment, IRAS will automatically revise your assessment to grant you the Personal Tax Rebate and you may get a refund of the payment made in respect of the tax clearance assessment, if applicable.