Trending
Salary.sg – Your Salary in Singapore
You are at:Home»Income»Income tax calculator

Income tax calculator

71
By on Income

[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

Share.

About Author

Related Posts

71 Comments

  1. Kevin on

    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 on

    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!

  4. Tax Payer on

    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?

  6. Pingback: » 7 Ways to die For Want of a Better Title

  7. pmg on

    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.

  9. Pingback: » Death and Taxes For Want of a Better Title

  10. Pingback: Calculate your taxes « In His Footsteps

  11. Sam on

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

  12. admin on

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

  13. sanjay on

    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

  15. karthik on

    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 on

    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 on

    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 on

    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 on

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

  20. Pingback: More millionaires in Singapore | Salary.sg - Your Salary in Singapore

  21. KK on

    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 on

    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.

  25. sam on

    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 on

    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 on

    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 on

    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 on

    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 on

    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 on

    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

  33. Omar on

    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 on

    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 on

    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 on

    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 on

    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 on

    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

  40. Pingback: Income Tax Rebate of 20% for YA2008 | Salary.sg - Your Salary in Singapore

  41. A. White on

    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.

  43. DDS on

    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 on

    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 on

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

  46. Raj Islam on

    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 on

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

  48. zaw on

    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 on

    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 on

    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…..