Filing responsibilities of self-employed persons (including individual partners)
All self-employed partners of a partnership including the precedent partner must file Form B/B1 and report their share of the partnership income as part of their total personal income in Form B/B1.
Tax treatment of business income
Business income is income derived from carrying on a trade, business, profession, or a vocation.
Business income is taxable in the sole-proprietor's, partner's, or self-employed person's name. The sole-proprietor, partner, or self-employed person who receives this income has to report the income in his/her individual Income Tax Return (Form B/B1).
The business income is added to your other sources of personal income. The total amount is then subject to individual income tax rates
Reporting for self-employed partners
Self-employed partners are required to report in the individual Income Tax Return (Form B/B1) their:
- Share of partnership profit/loss; and
- Salary, bonus, CPF, and other benefits from the partnership.
Please check with your precedent partner on your share of income from the partnership.
If the partnership e-files the Form P by 28 Feb, the partnership allocation will be pre-filled in the respective partners' Income Tax Return. With this pre-filling initiative, the precedent partner need not separately inform the respective partners of their share of the partnership income.
The respective partners will only need to verify the pre-filled income from 1 Mar onwards and submit their individual Income Tax Return (Form B/B1) by the due date.
To determine if you are a partner that is employed or self-employed, please refer to Am I a self-employed person.
Not declaring or under-declaring your partnership income is an omission which may render you liable for penalties under the law.
Filing Form B/B1 for self-employed partners
|Mode of filing||When can I file?||How can I file my partnership income?|
1 Mar to 18 Apr
- Login to myTax Portal with your Singpass or Singpass Foreign User Account.
- Go to “Individuals” > “File Income Tax Return”.
- Select “Edit My Tax Form”.
- Go to section: “2. Trade, Business, Profession or Vocation” > “Partnership” and click on “Update”.
- Report your share of partnership profit/loss and your salary, bonus, CPF, and other benefits from the partnership under “Partnership 1”.
Please do not enter the partnership income under “1. Employment Income and Employment Expenses: Section B” of the Form B/B1.
- To declare your 2nd and subsequent partnership income sources, click on “Add Partnership” at the end of each partnership source.
|1 Mar to 15 Apr|
- Report your share of partnership profit/loss and your salary, bonus, CPF, and other benefits from the partnership in Page 2 of Form B > “1. Trade, Business, Profession, or Vocation” section’ > “Partnership 1".
- If you are a partner of more than one partnership, please complete Appendix 1 (Part 2) for Partnership 2 and 3.
- Report your total income from the partnership in Page 2 of Form B1 > “Section A” > “3. Other Income”.
- Provide details of the income in “Appendix 1” > 1. Trade, Business, Profession or Vocation”.
Other sources of income
Report your income from all sources (e.g. sole-proprietorship business, employment, rent, other income from property, royalty, charge and estate/trust income, etc.) in the relevant sections of the individual Income Tax Return (Form B/B1).
Guides and tips on filing