[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:
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.
My base is $160k – how much tax will i pay?
If I am working in singapore less 3 months or just 3 months and leaving soon, how do I have to pay tax?
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.
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.
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?
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, $4500 pm ( I plan to move back to Malaysia after 6 months working in Singapore)
Thanks a lot
New job and my employer who also owns an entity in Singapore wants to pay me a salary there around 6.000 SG$, 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
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…
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,
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?
yes, of course you’ll have to file tax.
how can i noe how much the tax i get it?
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.
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.
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.
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.
may i know how to calculate the tax on tax on quarters?
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