Income Percentile
May 1st, 2007
[Update 30 Oct, 2007: the YA2007 version of the calculator.]
Wouldn’t it be nice if you can “benchmark” your annual income against the general population in Singapore?
Enter your annual income to calculate your “Income Percentile”:
The above calculator is based on the graph below, which shows Annual Income plotted against “Percentiles”. It is based on data released by IRAS (see Income of Taxpayers Rising). For example, if you’re making $100,000 per year (all in), you’re at around the 83rd percentile.
Note that the data take into account only tax paying residents. Non-residents and those who don’t pay tax (probably due to having income lower than $20,000 per annum) are not included in the data. So when you’re “benchmarking” using the above calculator, you are actually comparing yourself with residents who are paying taxes.
Masindi Says:
May 2nd, 2007 at 4:05 pm
Interesting! Is it calculated based on “working population” or “the entire population”?
admin Says:
May 2nd, 2007 at 7:44 pm
It’s calculated based on residents who filed their income taxes. So you’re benchmarking against residents who are required to file tax. (Note that there are quite a number of people who do not need to submit tax returns.)
congster Says:
May 4th, 2007 at 3:07 pm
it doesnt have a large portion at zero dollar annual income so obviously it cannot be the entire population. -_-
admin Says:
May 6th, 2007 at 12:53 am
congster, it does not cover the entire population.
The data covers only residents who filed their taxes. Those earning less than 20k (or so) are not required to file taxes.
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mryang Says:
October 8th, 2007 at 4:29 pm
I’m at 1.9th Percentile, so what does that mean? I’m a low-paid donkey who doesn’t have to file tax?
Krzystof Gabornok Says:
October 13th, 2007 at 1:23 pm
So any idea how much money will the 500K earner has to pay for the tax in 2007? Any idea? Will he try anything to save paying painful tax while doing tax return?
admin Says:
October 25th, 2007 at 1:56 am
Krzystof, the 500k earner has to pay $78,700 for tax.
Use the income tax calculator at:
http://www.salary.sg/2007/income-tax-calculator/
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