Singapore
Individual - Sample personal income tax calculation
Last reviewed - 06 May 2024Year of assessment 2024 (income year ended 31 December 2023).
SGD | SGD | |
Employment income | 120,000 | |
Less: Employment expenses | (2,000) | |
Net employment income | 118,000 | |
Income from trade, business, profession, or vocation | 50,000 | |
Other income: | ||
Interest | 5,000 | |
Rent from real property | 2,000 | |
Total income | 175,000 | |
Less: Approved donations | (1,000) | |
Assessable income | 174,000 | |
Less: Personal reliefs | ||
Earned income relief | 1,000 | |
Spouse relief | 2,000 | |
Qualifying child relief | 8,000 | |
Parent relief | 9,000 | |
CPF relief | 20,400 | |
(40,400) | ||
Chargeable income | 133,600 | |
Tax payable | 9,990 | |
Less: Tax rebate (capped at SGD 200) | (200) | |
Net tax payable after rebate | 9,790 |