Find out about the one-off Personal Income Tax rebate announced in the Singapore Budget for tax resident individuals for Years of Assessment (YAs) 2024 and 2025.
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Rebate for tax residents

The Personal Income Tax rebate is granted to all tax resident individuals who are taxable in a particular YA.

Amount of tax rebate

Year of AssessmentAmount of tax rebate
202560% of tax payable, up to $200
202450% 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. If my tax payable for the respective YAs is $0, can I carry forward the Personal Income Tax rebate to offset against future tax payable?
The Personal Income Tax rebate is a rebate granted specifically for YAs 2024 and 2025 and cannot be carried forward to offset future tax payable.
2. If my tax payable for the respective YAs is $0, can I get a payout of $200 from IRAS?
You will not get any payout from IRAS as the Personal Income Tax rebate is a rebate against tax payable.
3. I have received my tax clearance assessment for the respective YAs before the Budget announcement, will I get a reassessment?
If you have been assessed as a tax resident for the YAs 2024 and 2025 in your tax clearance assessment, IRAS will automatically revise the assessment to grant you the Personal Income Tax rebate. If your tax liability is reduced due to the Personal Income Tax rebate, you will get a refund of the tax overpaid (if any).