Salary Calculator Singapore

Tax Year: 2024 – 2025

If you live in Singapore and earn a gross annual salary of $60,840, or $5,070 per month, your monthly take-home pay will be $3,889 This results in an effective tax rate of 23%, as estimated by our Singapore salary calculator.

The following chart outlines your earnings relative to the national average salary and minimum wage in Singapore. These are annual, before-tax figures, calculated assuming full-time employment.

The average (median) annual salary for full-time employed residents in Singapore is $60,840, or $5,070 per month, according to the latest figures from the Statistics Department of Singapore's Ministry of Manpower. If we input this amount into our salary calculator, we get a monthly after-tax salary of $3,889 for Singapore tax residents.

It's important to note that these figures include the employer's CPF contributions. This means that the actual salary the average employee can expect in Singapore will be lower, since the CPF contributions paid by employers can go up to 17% of the gross salary (capped at $6,000 per month) and 17% of any bonuses.

Singapore does not have a national minimum wage. Instead, wages for workers in certain sectors must follow government-mandated rates, while salaries for foreign nationals must meet specific minimum requirements, depending on the type of work permit. For example, foreign employees on an S Pass have to earn a minimum of $3,000 per month, or $36,000 per year.

The S Pass permit is granted to mid-level skilled workers that meet the eligibility criteria. Highly skilled professionals will usually hold an Employment Pass, which mandates a minimum gross salary of $5,000 per month, or $60,000 per year.

Singapore distinguishes between tax residents and non-residents. Residents are taxed at a progressive rate between 0% and 24%, and must also contribute to the Central Provident Fund (CPF). Non-residents must pay either a 15% flat rate on their employment income or the progressive resident tax rate, whichever is higher, and also a 22% flat rate on income additional to their wages.

Tax residents, as defined by the Inland Revenue Authority of Singapore (IRAS), are:

• Singapore citizens or permanent residents who live in Singapore except for temporary absences, such as vacations.
• Foreigners who have lived or worked in Singapore for at least 183 days in the last year or continuously for the last three years (business trips, overseas vacation leave, weekends, and public holidays count toward those 183 days).
• Foreigners who have worked in Singapore over a continuous period spanning two years with a total period of stay of at least 183 days (this doesn't include directors of companies, public entertainers, or independent professionals).

Most individuals living in Singapore are required to file income taxes. You may be selected for the No-Filing Service (NFS), which means your employer and supplementary retirement scheme (SRS) operator will tell the Inland Revenue Authority of Singapore (IRAS) your earnings and SRS withdrawals. The IRAS will then pre-fill this information so you don't have to file a tax return.

If you aren't selected for the NFS and still need to file income tax, Singapore residents and non-residents can e-file on the IRAS website. E-filing is open from March 1 to April 18 of every year. You can also paper-file by completing tax forms and sending them to the IRAS by April 15.

Our take-home pay calculator includes the two main taxes levied by the Singapore government on employment earnings: income tax and CPF contributions. For simplicity, we assume users have been Singapore Permanent Tax Residents for at least three years. This means that taxes are calculated using the lower tax resident rates, rather than the higher non-resident rates. In contrast, this also means that the applied CPF contributions rates are higher.

• Income Tax: Singapore residents are taxed at a gradual rate between 0% and 24%. Meanwhile, non-residents are taxed at a 15% flat rate or the progressive resident tax rate, whichever is higher. Non-residents also pay a 22% flat rate on income additional to their normal salary.
• Central Provident Fund (CPF): The CPF is Singapore's social security savings scheme, which is funded by employers and employees. Only permanent tax residents are required to make CPF contributions, and the rates are based on the number of years as Singapore Permanent Resident (SPR) and the taxpayer's age.