Singapore Income Tax Calculator

Singapore implements a progressive income tax structure for resident individuals. The rates range from 2% for taxable income exceeding SGD 20,000, and go up to 22% for income over SGD 1,000,000. In addition to income tax, the city-state operates the Central Provident Fund (CPF), a national pension scheme. This requires contributions from both employers and employees, at rates of 17% and 20% respectively, on ordinary monthly wages up to a ceiling.

To use the Singapore income tax calculator, simply input your desired salary and filing status to begin.

Singapore Tax Calculator

Singapore Tax Brackets and Incentives

Tax Rates for Resident Individuals

(For Tax Year 2023)

Over (SGD) Not Over (SGD) Tax on Over (SGD) Percentage on Excess (%)
0 20,000
20,000 30,000 2.00
30,000 40,000 200 3.50
40,000 80,000 550 7.00
80,000 120,000 3,350 11.50
120,000 160,000 7,950 15.00
160,000 200,000 13,950 18.00
200,000 240,000 21,150 19.00
240,000 280,000 28,750 19.50
280,000 320,000 36,550 20.00
320,000 500,000 44,550 22.00
500,000 1,000,000 84,150 22.00
1,000,000 194,150 22.00
Reference: HSBC

Tax Rates for Non-Resident Individuals

(For Tax Year 2023)

Income Type Tax Rate (%)
General Income 22
Employment Income Higher of 15 or resident rates
Director’s Remuneration 22
Withholding Tax (WHT) 22

Central Provident Fund (CPF) Contributions

Contribution Type Contributor Contribution Rate (%) Max Monthly Contribution (SGD) Max Annual Contribution (SGD)
Regular Monthly Wages Employer 17 1,020 12,240
Regular Monthly Wages Employee 20 1,200 14,400
Bonus or Additional Wages Employer 17 Varies* Varies*
Bonus or Additional Wages Employee 20 Varies* Varies*
Reference: PricewaterhouseCoopers LLP

*The CPF contributions for bonus or additional wages are subject to specific conditions as outlined in the original text.

Supplementary Retirement Scheme (SRS) Contribution Limits

Citizenship Status Contribution Cap (%) Max Annual Contribution (SGD)
Singapore Citizens or Permanent Residents 15 15,300
Foreign Nationals 35 35,700

Noteworthy Tax Provisions in Singapore

Tax Element Description
Capital Gains Tax Singapore does not impose a capital gains tax. However, repeated capital transactions might be regarded as a business activity, in which case income tax may apply.
CPF Provisions for Lower-Income & Elderly Employees Those earning less than SGD 750/month or aged above 55 are subject to reduced CPF rates.
CPF Increment The CPF income ceiling will undergo a phased increase by 2026.
CPF Contributions by Foreigners Foreign nationals and their employers are generally exempt from CPF contributions. However, foreign employees who gain permanent residency, along with their employers, can contribute at reduced rates for the first two years.

All values presented are in Singapore dollars (SGD).

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