Take-Home Pay in Singapore
| Yearly | Monthly | Weekly | |
|---|---|---|---|
| Salary Before Tax | |||
| Salary After Tax | Enter salary | ||
Simply enter your annual or monthly income into the salary calculator above to find out how taxes in Singapore affect your income. You'll then get a breakdown of your total tax liability and take-home pay.
- Salary Before Tax
- your total earnings before any taxes have been deducted. Also known as Gross Income.
- Salary After Tax
- the money you take home after all taxes and contributions have been deducted. Also known as Net Income.
Income Tax Breakdown
| Yearly | Monthly | |
|---|---|---|
| Income Tax | ||
| CPF Contribution | ||
| Total Tax Due |
- Total Tax Due
- the sum of all taxes and contributions that will be deducted from your gross salary.
The deductions used in the calculator assume you are not married and have no dependents. You may pay less if tax credits or other deductions apply.
Taxation in Singapore
- Income Tax
- is a progressive tax, meaning that individuals with higher wages will be taxed more than individuals with lower wages.
- CPF Contribution
- is a mandatory social security savings scheme with contributions from both employers and employees.
The information presented here is based on the fiscal regulations in Singapore in 2022. For more details visit our new Tax Calculator for Singapore page.
Financial Facts About Singapore
The median monthly gross salary in Singapore is $4,680, according to the latest figures from the Statistics Department of Singapore's Ministry of Manpower. This equates to a median annual salary of SGD 56,160, before taxes and other deductions.
Singapore does not have a government-regulated minimum wage, although the city-state has one of the highest GDP per capita in the world. This is partly explained by the fact that Singapore's economy is ranked as one of the most open and competitive in the world, making it a business-friendly regulatory environment for local and international companies.
Singapore boasts one of the lowest personal income tax rates in the world. Individuals are taxed only on the income earned in Singapore, and the tax rates for resident taxpayers are progressive, with higher rates being applied to higher income levels. The current highest personal income tax rate is only 22%.
Tourism is one of the biggest contributors to the Singaporean economy, attracting over 17 million international tourists annually, more than 3 times Singapore's total population. The annual Population in Brief report shows that foreigners represent 40% of the population in Singapore, as of June 2018. While having a very high standard of living, Singapore is also ranked first worldwide for the ease of doing business.
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