Individual Tax Rates for Singapore Resident

Progressive Personal Tax in Singapore

Individual Tax Rates Table

The Individual Tax Rates range from 0% for income of not more than SGD20,000 to 22% for income of SGD320,000 and above. Below is the table showing the Progress Tax Rates in Singapore with effect from Year of Assessment 2017.

Year of Assessment 2017 Onwards

Chargeable Income Income Tax Rate (%) Gross Tax Payable (SGD)
On the first 20,000 0 0
On the next 10,000 2 200
On the first 30,000 - 200
On the next 10,000 3.5 350
On the first 40,000 - 550
On the next 40,000 7 2,800
On the first 80,000 - 3,350
On the next 40,000 11.5 4,600
On the first 120,000 - 7,950
On the next 40,000 15 6,000
On the first 160,000 - 13,950
On the next 40,000 18 7,200
On the first 200,000 - 21,150
On the next 40,000 19 7,600
On the first 240,000 - 28,750
On the next 40,000 19.5 7,800
On the first 280,000 - 36,550
On the next 40,000 20 8,000
On the first 320,000 - 44,550
In excess of 320,000 22

Year of Assessment 2013 to 2016

Chargeable Income Income Tax Rate (%) Gross Tax Payable (SGD)
On the first 20,000 0 0
On the next 10,000 2 200
On the first 30,000 - 200
On the next 10,000 3.5 350
On the first 40,000 - 550
On the next 40,000 7 2,800
On the first 80,000 - 3,350
On the next 40,000 11.5 4,600
On the first 120,000 - 7,950
On the next 40,000 15 6,000
On the first 160,000 - 13,950
On the next 40,000 17 6,800
On the first 200,000 - 20,750
On the next 120,000 18 21,600
On the first 320,000 - 42,350
In excess of 320,000 20

Tax Rebate from Year of Assessment 2013 to 2017

Year of Assessment Rebate - Percentage of Tax Payable Maximum Rebate (Capping)
2013 30% for Individuals less than 60 Years Old
50% for Individuals 60 Years Old or more
SGD1,500
2014 Nil Nil
2015 50% SGD1,000
2016 Nil Nil
2017 20% SGD500
individual tax rates and tax relief

Personal Relief for Year of Assessment 2017 onwards - General Guide

Types of Personal Relief Basic Conditions SGD
Earned income relief - Under age 55 1,000
  - 55 to age 59 6,000
  - Age 60 and above 8,000
Handicapped earned - Under age 55 4,000
income relief - 55 to age 59 10,000
- Age 60 and above 12,000
Spouse/handicapped spouse relief   2,000 / 5,500
Child/handicapped child relief - Qualifying child relief (each) 4,000 / 7,500
Dependent parent/ - Living with taxpayer in the same household (each parent) 9,000 / 14,000
handicapped parent relief - Not living with taxpayer in the same household (each parent) 5,500 /10,000
Handicapped sibling relief 5,500
Course fee relief   5,500
CPF cash top-up relief - By self or employer to self's account Up to 7,000
- To spouse, sibling, parents' and grandparents' account Up to 7,000
Foreign maid levy - Without foreign domestic worker levy concession Up to 6,360
  - With foreign domestic worker levy concession Up to 1,920
Grandparent caregiver relief 3,000
NSman relief - No in-camp training in previous year (non-key appointment holder) 1,500
  - Attended in-camp training in previous year (non-key appointment holder) 3,000
  - No in-camp training in previous year (key appointment holder) 3,500
  - Attended in-camp training in previous year (key appointment holder) 5,000
NSman (wife/parent) relief 750
CPF relief - Age 50 and below Up to 20,400
Supplementary Retirement - Singaporean/Singapore permanent resident Up to 15,300
Scheme (SRS) relief - Foreigner Up to 35,700

Our Company provide Corporate Tax, Individual Tax and GST Services. For Individual Tax, it includes Form IR8A and IR21 preparation and submission.

We are also familiar with the application of treaty exemption and tax credit under double taxation agreement. This includes the application of Certificate of Residence.

When making payments to foreigners or non-resident person/company, it is important to clarify whether you need to withhold any taxes. Always consult a tax specialist to confirm so that you avoid the penalty for failure to withhold tax.

Providing both Tax and Accounting Services to meet customers' needs. Accounting Service includes Financial Accounting, Management Accounting and Fund Accounting. Let us know your tax and accounting needs and we shall customize our services accordingly.

We Are Always Ready to Advise on the Applicable Singapore Tax Rates

Our individual tax consultant look forward to personal tax planning opportunities with you.

 

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Email: enquiry@accountingserviceprovider.com.sg

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