Singapore Income Tax Calculator — IRAS Tax Brackets 2025
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Tax Bracket Breakdown
How Singapore Income Tax Works
Singapore income tax is a progressive tax on personal earnings administered by the Inland Revenue Authority of Singapore (IRAS). Rates range from 0% to 24% across 13 brackets, with the first SGD 20,000 of chargeable income completely tax-free. Singapore is widely recognized for its competitive tax regime, with no capital gains tax, no inheritance tax, and a territorial system that generally does not tax foreign-sourced income. According to IRAS, Singapore collected approximately SGD 14.8 billion in personal income tax in FY2024.
Tax residents benefit from progressive rates and personal reliefs. Non-residents are taxed at the higher of 15% flat or the resident progressive rates on employment income. Singapore citizens and permanent residents also participate in the Central Provident Fund (CPF), a mandatory savings scheme with employee contributions of 20% and employer contributions of 17% (for workers aged 55 and below), up to a monthly ordinary wage ceiling of SGD 6,800. Compare Singapore's rates with our Japan Income Tax Calculator or the UAE Tax Calculator.
Tax returns are filed annually for the Year of Assessment (YA), which covers income earned in the preceding calendar year. Filing is due by April 15 (paper) or April 18 (e-filing). The No-Filing Service (NFS) automatically assesses many employees, eliminating the need to file a return if their employer participates in the Auto-Inclusion Scheme.
How Singapore Income Tax Is Calculated
The formula used by IRAS is:
Tax Payable = Progressive tax on (Total Income - Personal Reliefs - Donations)
Worked example for a tax resident earning SGD 120,000 annually with SGD 1,000 earned income relief and SGD 16,320 CPF relief:
- Total reliefs: SGD 17,320
- Chargeable income: SGD 120,000 - 17,320 = SGD 102,680
- Tax: First 80,000 = SGD 3,350 + (22,680 x 11.5%) = SGD 2,608
- Total tax: SGD 5,958 | Effective rate: 5.0% of gross income
Key Terms You Should Know
- IRAS: Inland Revenue Authority of Singapore, the statutory board responsible for tax collection and administration.
- Year of Assessment (YA): The year in which tax is assessed on income earned in the preceding year. YA 2025 covers income earned in calendar year 2024.
- CPF (Central Provident Fund): Mandatory savings for Singaporeans and PRs, with employee contribution of 20% and employer 17% (age 55 and below). Provides for retirement, housing, and healthcare.
- Chargeable Income: Total income minus personal reliefs and approved donations. This is the amount on which tax is calculated.
- SRS (Supplementary Retirement Scheme): A voluntary savings scheme that provides tax relief on contributions (up to SGD 15,300 for citizens/PRs or SGD 35,700 for foreigners). Only 50% of SRS withdrawals at retirement are taxable.
Singapore vs. Regional Tax Rates
Singapore's personal income tax rates remain among the lowest in Asia-Pacific. According to IRAS and OECD data, Singapore's top marginal rate of 24% is competitive compared to regional peers:
| Country | Top Rate | Tax-Free Threshold | Capital Gains Tax |
|---|---|---|---|
| Singapore | 24% | SGD 20,000 | None |
| Hong Kong | 17% | HKD 132,000 | None |
| Japan | 45% + 10% local | Deductions-based | 20.315% |
| Australia | 45% | AUD 18,200 | Up to 45% |
| UAE | 0% | N/A | None |
Practical Examples
Example 1: Young professional (foreigner on EP) earning SGD 60,000/year. No CPF contributions required. With SGD 1,000 earned income relief, chargeable income is SGD 59,000. Tax: SGD 200 (on first 30,000) + SGD 350 (30-40K) + SGD 1,330 (40-59K at 7%) = SGD 1,880. Effective rate: 3.1%.
Example 2: Singaporean citizen earning SGD 100,000/year. CPF employee contribution: SGD 16,320 (20% of SGD 81,600 annual OW ceiling). With reliefs totaling SGD 17,320, chargeable income is SGD 82,680. Tax: approximately SGD 3,660. Effective rate: 3.7%. Use our Salary Calculator for monthly take-home pay.
Example 3: High earner with SGD 500,000/year. After reliefs, chargeable income approximately SGD 480,000. Tax: approximately SGD 67,750. Effective rate: 13.6%. Non-resident taxed at higher of 15% flat (SGD 72,000) or resident rate, so the resident rate is more favorable here.
Tips to Optimize Your Singapore Tax Bill
- Maximize SRS contributions: Contribute up to SGD 15,300/year (citizens/PRs) or SGD 35,700 (foreigners) to the SRS for full tax relief. At withdrawal (age 62+), only 50% is taxable, and it can be spread over 10 years.
- Top up CPF Special/MediSave accounts: Voluntary CPF top-ups qualify for tax relief of up to SGD 8,000 for self top-ups and SGD 8,000 for family member top-ups, totaling SGD 16,000 in additional relief.
- Claim all eligible reliefs: Many taxpayers miss reliefs for course fees (up to SGD 5,500), parent relief (SGD 9,000 for living with you), and life insurance premiums (up to SGD 5,000).
- Make qualifying donations: Donations to approved Institutions of a Public Character (IPCs) receive 250% tax deduction, meaning a SGD 1,000 donation gives SGD 2,500 in deductions.
- Structure rental income correctly: If you earn rental income, ensure you deduct all allowable expenses including mortgage interest, property tax, maintenance fees, and insurance premiums before declaring net rental income.
2025 Updates and Recent Changes
From YA 2024, Singapore introduced two new top brackets: 23% on income from SGD 500,001 to SGD 1,000,000 and 24% on income above SGD 1,000,000, raising the top rate from the previous 22%. The CPF monthly ordinary wage ceiling increased to SGD 6,800 in 2024 and will rise further to SGD 7,400 by 2026. According to IRAS, Singapore's personal income tax revenue grew approximately 8% year-on-year in 2024. The median monthly income for full-time employed residents was approximately SGD 5,500 in 2024, according to the Ministry of Manpower.
Frequently Asked Questions
What are the 2025 Singapore income tax rates?
Singapore tax-resident rates for YA 2025 are progressive across 13 brackets: 0% on the first SGD 20,000; 2% on SGD 20,001-30,000; 3.5% on SGD 30,001-40,000; 7% on SGD 40,001-80,000; 11.5% on SGD 80,001-120,000; 15% on SGD 120,001-160,000; 18% on SGD 160,001-200,000; 19% on SGD 200,001-240,000; 19.5% on SGD 240,001-280,000; 20% on SGD 280,001-320,000; 22% on SGD 320,001-500,000; 23% on SGD 500,001-1,000,000; and 24% on income above SGD 1,000,000. The top two brackets (23% and 24%) were introduced from YA 2024.
Who qualifies as a tax resident in Singapore?
You are a Singapore tax resident if you are a citizen or permanent resident ordinarily living in Singapore, or a foreigner who has worked in Singapore for 183 days or more in a calendar year. Non-residents working 61-182 days are taxed at either the resident progressive rates or 15% flat, whichever is higher. Those working 60 days or fewer are generally exempt from tax on employment income (the "60-day rule"). For consecutive employment spanning two calendar years, the two-year administrative concession may apply. Tax residency is determined on a year-by-year basis.
How does CPF work in Singapore?
The Central Provident Fund is a mandatory savings scheme for Singapore citizens and permanent residents. For employees aged 55 and below earning over SGD 750/month, the employee contributes 20% and the employer contributes 17% of ordinary wages, up to a monthly ceiling of SGD 6,800 (rising to SGD 7,400 by 2026). CPF is split into three accounts: Ordinary Account (for housing and education), Special Account (for retirement), and MediSave (for healthcare). CPF contributions are tax-deductible. Foreigners on work permits or employment passes do not contribute to CPF.
What tax reliefs are available in Singapore?
Key reliefs include Earned Income Relief (up to SGD 1,000, SGD 8,000 for age 60+), CPF Relief (up to the employee contribution), SRS Relief (up to SGD 15,300 for citizens/PRs), Spouse Relief (SGD 2,000), Qualifying Child Relief (SGD 4,000 per child), Working Mother Child Relief (15-25% of income per child), NSman Relief, Course Fees Relief (SGD 5,500), and Parent Relief (SGD 9,000 if living with you). Total personal reliefs are capped at SGD 80,000 per year. Donations to IPCs receive a 250% tax deduction.
How is rental income taxed in Singapore?
Rental income is added to your total income and taxed at the progressive rates. You can deduct allowable expenses including property tax, mortgage interest (not principal), fire insurance, maintenance and repair costs, agent commissions, and furniture depreciation. The net rental income (gross rent minus expenses) is what gets added to your chargeable income. There is no separate tax rate for rental income. Non-residents pay a flat 22% on net rental income (24% from YA 2024 for income above SGD 500,000).
What is the Supplementary Retirement Scheme (SRS)?
The SRS is a voluntary savings scheme that complements CPF. Citizens and PRs can contribute up to SGD 15,300 per year, while foreigners can contribute up to SGD 35,700. Contributions are fully tax-deductible in the year of contribution. Investment returns within SRS are tax-free while accumulating. Upon withdrawal at the statutory retirement age (currently 62), only 50% of withdrawals are subject to tax, and withdrawals can be spread over 10 years. Early withdrawals face a 5% penalty plus full taxation. The SRS is one of the most effective tax planning tools in Singapore.