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Tax on Legal Personal Representative (LPR)
The statutory income of a LPR (administrator/executor) is subject to income tax at the following flat rate:
| Year of Assessment (YA) | Tax Rate |
|---|---|
| From YA 2010 | 17% |
Tax on beneficiaries if income is distributed
Tax on the estate income can be paid by Singapore resident beneficiaries at their personal tax rates instead of the tax rate of a legal personal representative if the distribution conditions are met.
The income has to be distributed before 31 Mar in the year following the year of assessment.
Example: Income Earned in 2022 Must Be Distributed Before 31 Mar 2024
Estate income in 2022 | $5,000 |
|---|---|
Less distribution in 2023 | $4,000* |
Chargeable income | $1,000 |
Tax at estate level : $1,000 at 17% | $170.00 |
The beneficiary will be assessed on the income distributed to him/her ($4,000*) at his/her personal tax rate in the YA 2024 since he/she received it in 2023.
If income is taxed at the estate level, it will not be taxed at the beneficiary level when it is distributed in later years.