We have updated our ever-popular income benchmarking tool to use Iras’ latest data.
Our income comparison tool needs no introduction. If you have not heard of it, see last year’s edition. The past 4 editions of this tool have attracted a total of more than 230 comments.
To use it, just type in your annual income (assessable income) and see how well you rank against all resident taxpayers in Singapore:
Notice that if you earned the same amount as the previous year, you will rank worse than before. People are making more money, obviously. A 100k income would give you a 79.9th percentile ranking a year before, but the same amount places you only at the 79.0th percentile this year. Guess what – four years ago, it was 83.1!