Singapore

Individual - Sample personal income tax calculation

Last reviewed - 06 May 2024

Year 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