Tax Breakdown in Singapore
| Yearly | Monthly | Weekly | |
|---|---|---|---|
| Salary Before Tax | |||
| Total Tax Due | |||
| Salary After Tax | Enter salary | ||
| Yearly | Monthly | |
|---|---|---|
| Income Tax | ||
| CPF Contribution |
| Your Take-Home Pay: | |
|---|---|
| Your Gross Salary: | |
| Tax Due: | |
| Effective Tax Rate: | |
| Tax Deadline: | 18 Apr (online) |
How to Use the Income Tax Calculator for Singapore
With our income tax calculator, Singapore residents can quickly estimate their take-home salary and total income tax. All you have to do is enter your gross salary, tell us if you're paid yearly, monthly, or weekly, and press "Calculate".
Our tax calculator makes a few assumptions for ease of use, such as that you aren't married and have no dependants, and that you've been a resident of Singapore for at least three years. This means that you may actually pay less in taxes after all tax credits, deductions and allowances applicable to your situation are taken into account.
How Is Income Tax Calculated in Singapore?
While determining income tax, Singapore distinguishes between residents and non-residents. Both residents and non-residents have to pay taxes on any income earned in the country, but they're taxed differently.
Residents are taxed at a progressive rate, which means they pay a higher percentage of tax as their income increases. The resident tax rate ranges from 0% to 22%. Residents must also contribute to the Central Provident Fund, known as the CPF.
Non-residents, on the other hand, must pay either a 15% flat rate on their employment income or the progressive resident tax rate, depending on which is higher. Non-residents should also expect to pay a 22% flat rate on income additional to their wages, such as director's and consultant's fees.
How to File Income Tax in Singapore?
While some people don't need to file income tax, Singapore residents who make more than $22,000 per year or have a self-employment income that nets at least $6,000 of profit are required to file. All non-residents who earn any income from Singapore, regardless of how much, also must file.
Even if you are required to pay taxes in Singapore, 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 for you 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.
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Save With WiseWho Is a Singapore Tax Resident?
Whether or not you're a tax resident has a big impact on how you're taxed. In our income tax calculator, Singapore tax residency is assumed. But what does that mean? Here's what you need to know.
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).
What Is Taxable and What Is Not in Singapore?
The IRAS has a useful guide to what is and isn't taxable in Singapore. While filing income tax, Singapore earners should expect any income generated in Singapore to be taxable, including rental income and additional income from employment such as bonuses and director's fees.
Meanwhile, non-taxable income includes CPF payouts, foreign-sourced dividends, capital gains, and winnings from betting or the lottery. Here are a few examples of what is and isn't taxable in Singapore.
| Taxable | Non-Taxable |
|---|---|
|
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What Can Be Deducted From Income Tax in Singapore?
You might have a lower taxable income than you think. In our tax calculator, Singapore's many possible tax deductions aren't taken into account. For instance, donations to an approved Institution of a Public Character (IPC) or the Singapore Government are deductible.
Employment expenses that fall in the range of "allowable expenses" are also deductible, including traveling expenses on public transport and entertainment expenses incurred while entertaining clients. As for other deductions for income tax, Singapore earners can write off some self-employed and vocational expenses, as well as some rental expenses.
How Much Tax Do Singaporeans Usually Pay?
We've compiled a table showing the income tax Singapore earners can expect to pay based on their gross salary. Notice that we already baked CPF contributions into the figures. As a tax resident, this table should be a good estimate of your take-home pay.
| Gross Salary | Take-Home Pay | Tax Rate | Tax Due |
|---|---|---|---|
| $20,000 | $16,000 | 20.00% | $4,000 |
| $30,000 | $23,800 | 20.67% | $6,200 |
| $40,000 | $31,450 | 21.38% | $8,550 |
| $60,000 | $46,050 | 23.25% | $13,950 |
| $80,000 | $62,250 | 22.19% | $17,750 |
| $100,000 | $79,950 | 20.05% | $20,050 |
Taxes in Singapore
There's a reason some people call Singapore a "tax haven". With a low corporate tax rate, a low rate for top-bracket earners, and the allure of nontaxable capital gains, Singapore has a place among countries with the lowest tax rates in the world.
Note that we assumed users were, in our income tax calculator, Singapore Permanent Tax Residents for at least three years. This means taxes are calculated using the much lower tax resident rates, rather than the non-resident rates.
Income Tax
Singapore residents are taxed at a gradual rate between 0% to 22% and must make contributions to the CPF based on their age and income. 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 wages.
| Taxable Income | Rate Applied | Tax Payable |
|---|---|---|
| $0 to $20,000 | 0% | $0 |
| $20,000 to $30,000 | 2% | $200 |
| $30,000 to $40,000 | 3.5% | $550 |
| $40,000 to $80,000 | 7% | $3,350 |
| $80,000 to $120,000 | 11.5% | $7,950 |
| $120,000 to $160,000 | 15% | $13,950 |
| $160,000 to $200,000 | 18% | $21,150 |
| $200,000 to $240,000 | 19% | $28,750 |
| $240,000 to $280,000 | 19.5% | $36,550 |
| $280,000 to $320,000 | 20% | $44,550 |
| $320,000 or more | 22% | $44,550+ |
Central Provident Fund (CPF)
The CPF is Singapore's social security savings scheme, which is funded by employers and employees. Your mandatory contribution rates depend on your age and are non-taxable. Make sure you take a look at the CPF's contribution rate table for 2022.
| Total Monthly Wages | Employee's CPF Contribution | Employer's CPF Contribution |
|---|---|---|
| $0 to $50 | 0% | 0% |
| $50 to $500 | 0% | 17% (total wages) |
| $500 to $750 | 60% (total wages - $500) | 17% (total wages) |
| $750 or more | 20% (ordinary wages, capped at $6,000) + 20% (additional wages) | 17% (ordinary wages, capped at $6,000) + 17% (additional wages) |
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