[Update: the 2009 version of this post is here: Income Tax Calculator 2009.]
It’s tax filing season again. Here’s the Income Tax Calculator for Year of Assessment 2008.
Just enter your chargeable income (assessable income minus all applicable reliefs):
This year, there’s a special 20% tax rebate for Singaporeans and PRs, capped at $2,000. For more info, see previous post.
You may want to do a year-on-year comparison using last year’s calculator.
Reference: Tax rates are obtained from this IRAS page.
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any discussion/research on how to minimize tax? Other than SRS?
I notice your blog posts have alot of input forms. Do these forms store the highly sensitive information that your blog readers post when they want to find out about their tax amount, etc?
I don’t think the site stores the data. Even if it does, what good is it if casual users enter “casual” info? 🙂 what I mean is that if you don’t trust the site, you can always enter a bunch of info, some real, some not so real, and just take note of the result for your real info.
Yes there will definitely be alot of casual data but it _is_ possible to store incoming numbers with ip address which could allow for one to manually pick the most possible numbers and derive a better picture. Worse off would be commenters who put in their work email.
Yes, it is very anal and a huge investment of time but I thought this ought to be clarified and be mentioned in the website’s privacy clause.
An0nym0us, I assure you that the info entered by users is not stored in the database. No user info will be stored and no user info will be used for any other purpose unless expressly indicated in the blog post and permitted by the users.
Thanks for the assurance admin! 🙂
I think your calculation of income tax 2008 is not correct.
Thanks & Regards,
oh it’s correct. Thanks!
What do I need to do in order to get the 20% rebate? Will it be automatic?
If I just started this November 2008, and I earn about 3400 a month, will I be taxed on Arpil 2009?
no you wont.
What about the 20% rebate? Is it done automatically?
Also, how accurate is this tax calculator? When i calculated the income tax after the 20%, I will only be paying 6.94% of my income. That’s seems a bit too little isn’t it? Not that I am complaining 😛
Sorry.. missed a word there, i meant to say ”Also, how accurate is this tax calculator? When i calculated the income tax after the 20% REBATE, I will only be paying 6.94% of my income. That’s seems a bit too little isn’t it? Not that I am complaining ”
thanks for sharing your pay..but that’s how it is in Singapore unless you are an elite
ok so im not paying till april right? and i plan to stay only up to november…(1 yr contract) Hows the tax going to be computed by then?
I plan to go on vacation sometime the 28th of march, I’ve read that there is a deadline on the 31st of march to file for your tax, since I’m going for vacation, should I file for it earlier?