By The Ledger desk · Last verified 3 October 2026
Singapore’s income tax is progressive and, for most people, gentle. If you’re a tax resident, the first S$20,000 of your chargeable income is tax-free, and the rate then climbs in steps, from 2% to a top rate of 24% on income above S$1 million. Before the rates apply, you subtract your reliefs, such as your CPF contributions, which can add up to S$80,000 a year. You file once a year, by 18 April online, for the income you earned in the previous calendar year.
Most salaried people will find that much of the work is already done for them. Here’s how the whole thing fits together, from payslip to tax bill.
Quick facts
- First S$20,000 of chargeable income: tax-free.
- Top rate: 24% on income above S$1 million.
- Personal reliefs are capped at S$80,000 a year in total.
- E-filing: 1 March to 18 April; paper forms by 15 April.
- You pay within one month of your Notice of Assessment, or by GIRO in up to 12 interest-free monthly instalments.
- No personal income tax rebate for Year of Assessment 2026; Budget 2026 announced no changes to personal tax.
What are the resident tax rates?
| Chargeable income | Rate on this slice | Total tax at the top of the band |
|---|---|---|
| First S$20,000 | 0% | S$0 |
| S$20,001 to S$30,000 | 2% | S$200 |
| S$30,001 to S$40,000 | 3.5% | S$550 |
| S$40,001 to S$80,000 | 7% | S$3,350 |
| S$80,001 to S$120,000 | 11.5% | S$7,950 |
| S$120,001 to S$160,000 | 15% | S$13,950 |
| S$160,001 to S$200,000 | 18% | S$21,150 |
| S$200,001 to S$240,000 | 19% | S$28,750 |
| S$240,001 to S$280,000 | 19.5% | S$36,550 |
| S$280,001 to S$320,000 | 20% | S$44,550 |
| S$320,001 to S$500,000 | 22% | S$84,150 |
| S$500,001 to S$1,000,000 | 23% | S$199,150 |
| Above S$1,000,000 | 24% | — |
Each rate applies only to the slice of income inside its band. Moving into a higher band never makes your whole income taxed at the higher rate, so a pay rise always leaves you better off.
A worked example
Take a 30-year-old earning S$5,000 a month, S$60,000 a year, with no bonus.
- Employment income: S$60,000.
- Less Earned Income Relief: S$1,000.
- Less CPF relief on her own 20% contributions: S$12,000.
- Chargeable income: S$47,000.
- Tax: S$550 on the first S$40,000, plus 7% of S$7,000 (S$490) = S$1,040 for the year.
That’s an effective rate of under 2% of her gross pay. Add reliefs such as an SRS contribution or a cash top-up to her CPF, and the bill shrinks further.
Which reliefs can I claim?
| Relief | How much |
|---|---|
| Earned Income Relief | S$1,000 below 55; S$6,000 at 55 to 59; S$8,000 at 60 and above |
| CPF relief | Your compulsory employee CPF contributions |
| CPF cash top-up | Up to S$8,000 for your own account, plus up to S$8,000 for family members |
| SRS contributions | Up to S$15,300 for citizens and PRs; S$35,700 for foreigners |
| Parent Relief | S$9,000 per parent living with you; S$5,500 if not |
| NSman Relief | S$1,500 or S$3,000 for the NSman; S$750 for wives and parents |
| Working Mother’s Child Relief | For children born from 2024: S$8,000, S$10,000 and S$12,000 for the first, second and third child onwards |
Many reliefs, including CPF, NSman and Parent Relief claimed in a past year, are filled in automatically. Check your pre-filled return rather than assuming it’s complete, and remember the S$80,000 cap on the total.
How do filing and paying work?
Most employers send your income details straight to IRAS under the Auto-Inclusion Scheme, so your return is largely pre-filled. If IRAS tells you you’re on the No-Filing Service, you needn’t file at all, though it’s still worth logging in to check the figures. Everyone else files on myTax Portal with Singpass between 1 March and 18 April. Your Notice of Assessment usually arrives from late April onwards; pay within one month, or set up GIRO and spread the bill over up to 12 interest-free monthly instalments.
What if I’m not a tax resident?
You’re generally a tax resident if you’re a citizen or PR living here, or a foreigner who has stayed or worked in Singapore for at least 183 days in the year. Non-residents can’t claim reliefs, and their employment income is taxed at a flat 15% or the resident rates, whichever gives more tax. Director’s fees and most other income are taxed at 24%.
The WahLiao Verdict
Singapore’s tax is low, but it isn’t nothing, and reliefs are where the easy savings are. Before 31 December, look at a CPF top-up or an SRS contribution: both cut next year’s bill while building your retirement. Then file early, sign up for GIRO, and let the instalments do the rest.
Questions people ask
Is my bonus taxed?
Yes, it’s employment income, taxed in the year you receive it.
Are investment gains taxed?
Singapore has no capital gains tax, and dividends from Singapore companies are tax-free in your hands. Bank interest received by individuals is also generally tax-exempt.
What happens if I file late?
IRAS can issue an estimated assessment and impose a penalty. If you can’t make the deadline, ask for an extension before it passes.
When is the deadline for the 2026 SRS and CPF top-up relief?
Contributions must reach the account by 31 December 2026 to count for the return you’ll file in 2027.
Sources: Smart Calculator, Singapore income tax guide YA2026; 3E Accounting, Budget 2026 summary; Excellence Singapore on personal reliefs. Rates and reliefs are set by IRAS; check myTax Portal for your own figures. The Ledger explains; it does not advise.
Read next: CPF Contribution Rates in 2026 · Property Tax for Owner-Occupiers · Back to The Ledger
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