Income tax calculator

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Income tax calculator

May 19th, 2007
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[Update: the 2009 version of this post is here: Income Tax Calculator 2009.]

[Update: the 2008 version of this post is here: Income Tax Calculator 2008.]

We have all filed our tax returns. But we’re not sure how much tax we’ll be paying.

Here’s an income tax calculator for this year (YA2007). Just enter your chargeable income (assessable income minus all applicable reliefs):

The above calculator is based on information from Inland Revenue Authority of Singapore (IRAS).

Even though the maximum individual tax rate is 20%, most of us will be charged at a (much) lower rate due to the progressive tax structure. For example, if your chargeable income is $100k, your tax rate is only 7.1%. The graph below shows effective tax rate against chargeable income:

Graph of Effective Tax Rate against Chargeable Income

This entry was posted on Saturday, May 19th, 2007 at 10:23 pm and is filed under Income. You can follow any responses to this entry through the RSS 2.0 feed. Responses are currently closed, but you can trackback from your own site.

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71 Responses to “Income tax calculator”


  1. Kevin Says:
    May 21st, 2007 at 11:09 am

    Wow, the steepest raise if from $20,000 to 85,000. i.e. majority of the workforce.

    From $350,000 to $500,000, only addition of 2% for a $150,000 increment.

    This is truely taxing the poor to feed the rich.


  2. n00b Says:
    May 21st, 2007 at 11:50 am

    What is chargeable income?

    Take into example someone earning 2.5k per mth (before CPF). Which of these are chargeable?

    a. 2,500 x 12?
    b. [(2,500 + employer CPF contributions) x 12] + bonus
    c. [(80% of 2,500 + employer CPF contribtution) x 12] + bonus
    d. other combinations

    Thanks!


  3. Ano Says:
    May 21st, 2007 at 2:41 pm

    IRAS provides an Excel template to calculate the tax

    Note: Chargable income is net income after employee CPF contribution

    http://www.iras.gov.sg/ESVPortal/resources/workingsheet_ya2007.zip


  4. Tax Payer Says:
    May 21st, 2007 at 3:30 pm

    To Kelvin, trying to understand your logic: just because the rate of increase diminishes as you move up the scale, it means that the poor are being taxed to feed the rich?

    One of them earning $500K contributes more tax then 10 of us earning $100k.

    Based on the chart, the former pays about $80k (@16%), while each of the “poorer ones” only pays $7k (@7%). Yet, the salary of the former is even near 10x that of the “poorer ones”.

    How’s my maths?


  5. Tax Payer Says:
    May 21st, 2007 at 3:31 pm

    Correction: I meant “not even 10x that of the ….”.


  6. » 7 Ways to die For Want of a Better Title Says:
    May 21st, 2007 at 5:00 pm

    [...] (2) Not paying your income tax on time. Check to see how much you have to pay.  [...]


  7. pmg Says:
    May 21st, 2007 at 10:45 pm

    I think the point Kevin is trying to make is that the middle class gets squeezed a lot more for trying to climb the ladder but those closer to the top get taxed a lot less trying to move up. So unless you start off nearer to the top, you’ll feel the squeeze quite a bit.


  8. nn Says:
    May 21st, 2007 at 11:16 pm

    n00b, it should be 2,500 x 12 + bonus, then minus whatever reliefs you’re entitled to (e.g. earned income, wife, children, provident fund). Generally, your CPF contributions can be deducted (as a “provident fund” relief). See http://www.iras.gov.sg/ESVPortal/iit/iit-se-a1.1.6.7+provident+fund+life+insurance+relief.asp


  9. » Death and Taxes For Want of a Better Title Says:
    May 21st, 2007 at 11:30 pm

    [...] that I have had a closer look at the whole income tax chart, I decided to crunch some numbers. Which is strange since I am trained in history and poli sci. The [...]


  10. Calculate your taxes « In His Footsteps Says:
    May 22nd, 2007 at 7:11 pm

    [...] http://www.salary.sg/2007/income-tax-calculator/  [...]


  11. Sam Says:
    July 4th, 2007 at 5:52 pm

    HI
    I need to check my tax applicable after an income of $250k a year after bonus.


  12. admin Says:
    July 5th, 2007 at 12:45 pm

    Hi Sam, based on my calculator,
    Your gross tax payable is $30,800.00
    (effective tax rate is 12.32%)


  13. sanjay Says:
    August 8th, 2007 at 5:57 am

    I am earning $8000 (singapore dollar)per month, i.e. $96000 per annum, please what would be tax applicable on the same, also if i wish to stay in singapore for 5 years then is there any benefit in taxation.
    Also i have heard if i leave after 5 years then what were tax was been collected is refunded, is that true?

    awaiting response


  14. admin Says:
    August 8th, 2007 at 1:15 pm

    Sanjay, my comments provided “as is” (you must check with other sources on the info provided here):

    Since you are physically in Singapore, you will be taxed as a “tax resident”. And based on YA2007 rates, your gross tax payable is S$6,540.

    For definition of “tax resident”, see:
    http://www.iras.gov.sg/irasHome/page03.aspx?id=6140

    Comparison of tax resident and non-resident:
    http://www.iras.gov.sg/irasHome/page03.aspx?id=6142


  15. karthik Says:
    August 17th, 2007 at 5:13 pm

    Hi.,

    My salary is SGD 5000/month and I am travelling to Singapore next month. Whats is the tax liability by me considering that I will be shelled out 5000 as my basic.What is the logic of change in tax for 6 month and more than 6 month calculation?


  16. admin Says:
    August 18th, 2007 at 12:07 am

    karthik, assuming your chargeable income is $60k and tax rates stay the same, your gross tax payable is $2,600.

    As for the “logic of change” for a tax resident vis-a-vis a non-resident (physically in Singapore for less than 183 days), I’m really not sure. It’s best if you check with IRAS.


  17. Satish Says:
    August 19th, 2007 at 12:41 pm

    I am being offered S$45260 Gross, which includes (all numbers are per annum) :
    Basic : S$43800
    Bonus : S$1200
    Insurance: S$60
    Family Insurance : S$200.

    Two Questions :

    What will be my net take home salary per month. Would appriciate if can reply with each deduction item as well.

    Is this a practically enough salary to live and save some money for a new commer like me with 2.5 Years experience in IT. ( I know its a wauge question – but…)


  18. admin Says:
    August 19th, 2007 at 10:39 pm

    Satish, I think it’s best for you to check with your employer regarding pay matters (deductions, CPF, tax, insurance, net pay, other benefits, etc). As for living comfortably, it depends on your lifestyle. If you just rent a room, you can be quite comfortable with that kind of pay.


  19. poduri satyanarayana murthy Says:
    September 6th, 2007 at 5:59 am

    Hi,
    I’m from India and have been here in Singapore from 25 th July 2005 continuously(first year


  20. More millionaires in Singapore | Salary.sg - Your Salary in Singapore Says:
    September 10th, 2007 at 8:04 pm

    [...] these wealthy individuals were taxed relatively heavily. (Use my tax calculator to see that if one had $1,000,000 as chargeable income, the effective tax rate is 17.87%, while [...]


  21. KK Says:
    September 17th, 2007 at 6:13 pm

    Dear Sir,

    I have a job offer from a singaporean company. they are offering a gross salary of S$3000/- PM.

    I have reffered the below link provided by u against a query. but being a foreigner working in singapore will i have to pay tax according to the below mentioned tax calculator or @ 15%? even if i stay there for more than a year. and if i join that company in october’2007 wht will be the tax rate in the year 2007?

    http://www.iras.gov.sg/ESVPortal/resources/workingsheet_ya2007.zip

    regards
    KK


  22. admin Says:
    September 17th, 2007 at 9:25 pm

    KK, you’ll be taxed as a resident since you’ll be physically in Singapore. Assuming you make $3k x 12 = $36k for the year, you’ll need to pay $680.
    Disclaimer: I’m not a tax expert. Please check with your employer or IRAS to confirm my calculations.


  23. hiutopor Says:
    September 18th, 2007 at 6:41 am

    Hi

    Very interesting information! Thanks!

    G’night


  24. KK Says:
    September 18th, 2007 at 12:07 pm

    Dear Admin,

    Thank you very much for your kind reply.

    Regards
    KK


  25. sam Says:
    September 26th, 2007 at 5:49 pm

    hi
    guys, got a quesion i got job offer of 90000 per year . But I saw all the exap sites accomodaiton is very expensive. is tht sufficeint salary as i am looking to save heaps as well.

    thanks
    sam


  26. admin Says:
    September 26th, 2007 at 10:42 pm

    sam, if you rent a room (as opposed to an apartment), I’m pretty sure you can save heaps.
    But if you insist on having a whole apartment to yourself, you have to consider areas further from the city area. $2-3k in rental shouldn’t be hard to come by.
    Good luck.


  27. sunil Says:
    October 12th, 2007 at 10:00 pm

    Guys ,

    what is the rental for a normal one bed room aspartment . If i had to work in the city , how difficult it is to commuyte to city from outskirts and how much tranporation charges wud come to ?


  28. shakti kumar Says:
    October 15th, 2007 at 7:31 pm

    avrage cost of one room ( 2 ppl can stay) S$400 to 500
    cost to commute about s$ 50 to S$ 70

    commutation is too good in singapore you can travel whole country in about 1.5 hrs during any time of day.. buses are trains are best and have good freqency, wait time not excess of 7 min anywhere any location.. only problem with outskirts- you will endup travelling Half an hour extra each trip – every day..


  29. Kooki Says:
    October 18th, 2007 at 8:59 am

    Hello Admin:

    Im being offered by a Singaporean company of S$ 1800/mos (gross) as a management trainee.I’m not originally from Singapore, however according to my contract, I’ll be staying with the company for 2 years..hence I’ll be tax as a resident individual.

    My questions are:
    1. Is my salary competetive given my position?? 2. (Pls) Help me compute my net montly income given my monthly salary?
    3. Is the deduction of tax on income per month or per annum basis?

    Thank you very much.. I badly need your help regarding this “tax” matter!

    xoxo,
    Kooki


  30. admin Says:
    October 25th, 2007 at 2:03 am

    Kooki, I can’t comment on whether your salary is competitive, but your tax payable – which is $56 payable per year assuming no reliefs and no rebates – is very low.
    Your employer do not deduct tax from your monthly income, unlike in some parts of the world. Instead, you pay tax directly to Iras, either in one lump sum once a year, or by GIRO on a monthly basis.
    Disclaimer: my comments provided “as is”. It’s always best to confirm with Iras or a professional tax consultant.


  31. Rainer Says:
    November 18th, 2007 at 8:50 pm

    I still have trouble understanding, what exactly makes up the taxable income. I am offered the following:

    basic: 10500pm x 13
    car allowance: 1800 pm
    housing allowance: 5500 pm

    Does that mean that my taxable income 10500×13 + 1800×12 + 5500×12 = 158100 is?

    Also, I think the company would rent the place for me. How would that influence the taxable income?

    Regs

    Rainer


  32. admin Says:
    November 19th, 2007 at 12:46 am

    Rainer, I believe certain benefits given by employers are taxable.
    From what I know, both allowances you mentioned are taxable (for housing, there’s a formula, so it’s not the full value that’s subject to tax). See:
    http://www.iras.gov.sg/irasHome/page03.aspx?id=1758#employee
    http://www.iras.gov.sg/irasHome/page03.aspx?id=1812
    As always, you must check with your employer or the HR department to be absolutely sure.


  33. Omar Says:
    December 3rd, 2007 at 7:38 am

    I am a foreign consultant who is incorporated in Singapore. I will be here more than 183 days in 2007, but I heard as a director and sole employee of my company I have to pay more taxes. Can someone please advise on how much I have to pay on a salary of $75000.

    Thanks,
    Omar


  34. Suresh Says:
    December 6th, 2007 at 5:18 pm

    Hi,
    I came to singapore on 12th November, and my monthly salary is S$5500…there is no other allowance from the company..my entire salary is quoted as Basic, how much should I have to pay for this year and how much it will be for the next year. please advise me on the same..I am confused by many collegues…


  35. admin Says:
    December 6th, 2007 at 10:49 pm

    Omar, yes, you have to pay tax for your company, as well as income tax for your personal income.
    Advisory: I’m not a tax expert. Always consult with the relevant experts / authorities.


  36. admin Says:
    December 6th, 2007 at 10:52 pm

    Suresh, for “Year of Assessment 2008″ (YA2008), your income for 2007 will be taken into account. Since it’s not much, I don’t think you’ll have to pay any tax in 2008.
    But in YA2009, your entire 2008 income will be taken into account – $5,500 x 12 (assuming no other income) – and you’ll be taxed on that. So you’ll be paying taxes in 2009.
    Advisory: Always check with the relevant authorities on tax matters.


  37. Sivarajan Kumar Says:
    February 9th, 2008 at 12:56 pm

    Hi,

    I got a job with sg $81,000 PER Annum. i am going to stay as a bachelor in singapore and i am from india, So how much Tax i want to pay for a year ?

    Shiva


  38. Mukesh Kanna Says:
    February 14th, 2008 at 10:50 am

    Hi Admin,

    From July 12th to till date i’m working in singapore.

    My total earned salary from July 12th to Dec 31st is around S$ 25,000. Its less than 183 days.

    Could you please tell me how much tax i need to pay for this.

    Thanks in advance.

    Cheers,

    Mukesh Kanna .J


  39. admin Says:
    February 15th, 2008 at 12:21 am

    Mukesh,
    The YA2007 tax rate for non-residents is 15% for employment income and 20% for other income.
    Please contact IRAS or a tax consultant to be sure.

    For definition of “tax resident”, see:
    http://www.iras.gov.sg/irasHome/page03.aspx?id=6140

    Comparison of tax resident and non-resident:
    http://www.iras.gov.sg/irasHome/page03.aspx?id=6142


  40. Income Tax Rebate of 20% for YA2008 | Salary.sg - Your Salary in Singapore Says:
    February 17th, 2008 at 11:45 am

    [...] the difference between assessable income and chargeable [...]


  41. A. White Says:
    February 20th, 2008 at 1:26 pm

    I arrived in Singapore 19th June and I’ve been employed in Singapore apart from 24 days out of Singapore, giving me a total of 172 days for year ending 2007.What is the situation for paying tax here as I’m less than 183 days in the country.


  42. admin Says:
    February 20th, 2008 at 10:26 pm

    A. White, are you aware of the 2-year concession? If you are here for 183 days straddling 2 years, you can be taxed as a resident. I believe it’s better to be taxed as a resident in many cases.
    See this for details:
    http://www.iras.gov.sg/irasHome/page03.aspx?id=6140
    Comparison of tax resident and non-resident:
    http://www.iras.gov.sg/irasHome/page03.aspx?id=6142
    As always, contact IRAS or a tax consultant to be sure.


  43. DDS Says:
    February 20th, 2008 at 10:42 pm

    Hi, I have monthly transport allowance as part of my basic package and I’ve been taxed for the allowance part as well though I spend lots of money as taxi expense for both office travel as well as to support client as I don’t have a car. I am not sure how to claim tax concession for this expense. In addition, I spent lots of money as client and team entertainment to keep my team floating. My company policies says only 10 dollars per quarter is claimable. Can you advice how to claim tax relief for this as well. Both taxi and entertainment doesn’t come with proper bills always (like sea food center – 100/200 a week), which makes it even more difficult. Please advice.Thanks in advance.


  44. Raj Islam Says:
    February 22nd, 2008 at 8:41 pm

    I have been offered a job in a Singapore registered company, having operating office outside singapore at US$132,000 per annum. I will be non resident as I will be in the operating office. Kindly advise

    a) what should be my salary structure to pay minimum taxes
    b) What are the relief I may get and under what scheme as non resident
    c) May tentative total tax payment and the rate of such tax.
    d)Will my employer will deduct TDS, if yes at waht rate?

    Thanking you in anticipation of your reply.


  45. admin Says:
    February 23rd, 2008 at 1:58 pm

    DDS & Raj Islam, my humble advice is for you to discuss your issues with your respective employers.


  46. Raj Islam Says:
    February 23rd, 2008 at 4:05 pm

    Dear Admin.

    The company is new and yet to have full set up in Singapore and hence asked me to inform them the expected salary structure by me from them.Pl. advise me with all my queries. Shall be oblidged for the same.

    Regards

    Raj


  47. admin Says:
    February 23rd, 2008 at 7:34 pm

    Raj, I’m sorry I can’t help you. Maybe you can try talking to a tax consultant or directly contact IRAS.


  48. zaw Says:
    March 4th, 2008 at 3:07 pm

    Dear Admin,

    I got s$4360 of total salary in 2007, so Am I need to pay for tax of year 2007.

    Thanks


  49. Kristy Says:
    April 7th, 2008 at 12:10 pm

    Hi,

    I earned $4000 in 2007. I have received the IRA form
    am i suppose to file the form? Would it be all rite if i don’t? As i am currently studying.

    Pls advice me

    Thanks


  50. Mike Says:
    April 12th, 2008 at 12:13 pm

    Hey admin,

    sporean dude here but clueless on how to claim tax relief for 2 kids.

    1. With wife working and earning 50k PA am I still entitled to child tax relief? ( I earn 80kPA)

    2. Tips of areas to look out for to reduce taxes?

    3.Best way to save money on taxes is…..


  51. admin Says:
    April 12th, 2008 at 2:05 pm

    Mike, have you started filing yet? In the online form itself, you should see Working Mother Child Relief (WMCR), Qualifying Child Relief (QCR), and so on. Click on the help to get a popup window explaining how to claim such reliefs.
    As for “best way”, if I remember, a good way is to claim QCR under you (not your wife). Reason: Any relief that’s applicable to either husband or wife should best go to the person in the higher bracket to enjoy greater saving. QCR is such a relief.
    Also, since you have 2 kids, have you applied for the Parenthood Tax Rebate (PTR)? If not, it’s also there in the online form – click on it, provide all the info, and they will do the rest.
    See also:
    http://www.salary.sg/2007/baby-bonus-parenthood-tax-rebate/


  52. Abs Says:
    May 8th, 2008 at 11:45 pm

    Hi,

    My base is $160k – how much tax will i pay?


  53. Rbt Says:
    June 6th, 2008 at 9:33 am

    Hi admin,

    If I am working in singapore less 3 months or just 3 months and leaving soon, how do I have to pay tax?

    Thanks


  54. komathi Says:
    July 2nd, 2008 at 7:03 pm

    hello admin,

    i am working in a pvt ltd in voucher basis, whether i have to pay my income tax, and what would be the tax for salary rs 6000/ per month earnings for oucher basis employes. all p ltd. comps.


  55. Wayne Says:
    July 20th, 2008 at 6:04 pm

    Hi, I have done a set of before-and-after-SRS payable tax calculation plotted on 4 income ranges. Easy to use with one example. Feel free to use.
    http://www.waynekoh.com/2008/06/refresh-srs.html


  56. edmund Says:
    August 1st, 2008 at 3:05 pm

    Generally, what thing can be include in the salary in singapore ? such as bonus, insurrance ..etc
    So what are they ?
    And what about labor law in singapore and so does the tax charge from the foreign employee ?
    does the employer pay or employee pay for the tax?


  57. Kerie Says:
    August 21st, 2008 at 12:17 am

    Hi
    I start working in singapore on 3rd of april 2008. I’m staying in Johor commuting daily back and forth. Am I considered resident for tax? The other thing is, how long should I stay to prevent from being charged 15% of my income, $4500 pm ( I plan to move back to Malaysia after 6 months working in Singapore)

    Thanks a lot


  58. Mauritius Says:
    September 25th, 2008 at 3:34 pm

    Hi

    New job and my employer who also owns an entity in Singapore wants to pay me a salary there around 6.000 SG$, but I do not live and work there but in Vietnam. Do I have to pay tax in SIngapore,
    will only come there one week every two months

    thanks for the advises


  59. khokan Says:
    September 25th, 2008 at 8:06 pm

    I heard that 15% tax for 30 days to 160 days is no more applicable is it correct? can u please provide me more info…

    regards
    khokan


  60. Rajesh Says:
    October 20th, 2008 at 8:27 pm

    Hello,
    I am an Indian & I am planning to travel to Singapore by mid Nov.2008 on long term (may be 1-2 years) & my yearly gross would be around 70k, What will be the tax I need to pay? What would be the best way to stay with family(3 members)?
    Thanks in advance,
    Rajesh


  61. joan69 Says:
    October 22nd, 2008 at 11:03 am

    hi,
    im malaysian…
    B4 i got working at sing 2year++(nov/05-mac/08),af tat i resign..than 12may08 i work 2other sing company again until 30sept08,i resign again…than i’ll get the tax or no?


  62. to joan69 Says:
    October 22nd, 2008 at 12:56 pm

    yes, of course you’ll have to file tax.


  63. joan69 Says:
    October 22nd, 2008 at 5:25 pm

    how can i noe how much the tax i get it?
    have website?
    TQ!


  64. SHY8 79 Says:
    November 24th, 2008 at 2:42 pm

    hai admin,
    im msian and earn gross 133k/year
    may i have the clarification personnal taxes and
    tax for the company and do i have to pay both., and how much that my tax deduction , ist worthit i accept the job. please admin im waiting your replay.
    tq


  65. KK Says:
    December 1st, 2008 at 6:22 pm

    HI,

    I am working in singapore from april’08.
    My plan to leave singapore on last week of april’09.

    will i have to pay tax @15% for the year 2009? since my stay in singapore in 2009 will be between 60-180 days? or will it be consider as normal since my overall stay is more than 180 days.

    thanx for the reply inadvance.

    regards
    kk


  66. JJ Says:
    January 9th, 2009 at 2:06 pm

    I’m moving to Singapore!! The new Vietnamese tax rates on personal income are much higher! And NO exemptions can be claimed. A person earning $40,000 (USD) has a tax rate of 21%. And who knows what is being done with the tax revenues.


  67. ashish Says:
    January 15th, 2009 at 3:19 pm

    i have joined singapore on 1st aug 08 & as on date, almost 183 days are completing, but main thing i am on projects outside singapore for most of time. as on 31st jan 09, i will complete 183 days. but, only 90 days in singapore & 90 days on project in india. please tell me the taxability status for 2009 & 2010 AY. my monthly salary is SGD 6000 p.m.


  68. joan Says:
    February 19th, 2009 at 9:52 am

    may i know how to calculate the tax on tax on quarters?


  69. admin Says:
    June 14th, 2009 at 10:31 pm

    Please view more discussions and post your new comments at:
    http://forums.salary.sg/income-jobs/503-income-tax-calculator-7.html


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