- Gross Income
- is the sum of all your earnings before any taxes have been deducted, minus any exemptions.
- Net Income
- is the money you take home after all taxes and contributions have been deducted from your gross salary.
- Tax due
- is the sum of all taxes and contributions that will be deducted from your gross salary. The deductions used in the above salary calculator assume you are not married and you have no dependents.
- Income Tax
- is a progressive tax, meaning that individuals with higher wages will be taxed more than individuals with lower wages.
The information presented on this page is based on the fiscal regulations of Singapore in 2019. Visit iras.gov.sg for more details.
The average monthly net salary in Singapore (SG) is around 6 005 SGD, with a minimum income of 2 500 SGD per month. The economy of Singapore has been ranked as one of the most open and competitive economies in the world, making it a business-friendly regulatory environment for local entrepreneurs.
Personal income tax rate in Singapore is one of the lowest in the world and depends on the residency status. 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 at 22%.
Tourism is one of the biggest contributors to the Singaporean economy, attracting over 17 million international tourists annually, more than 3 times of Singapore's total population. Also the annual Population in Brief report shows that foreigners represent 40 per cent 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.