By The Ledger desk · Last verified 4 October 2026
If you freelance, drive, tutor, design or run a sole proprietorship in Singapore, you are self-employed in IRAS’s eyes, and you report your business income on Form B, e-filed through myTax Portal by 18 April each year. You are taxed on your net trade income: revenue minus allowable business expenses, capital allowances and trade losses. If that figure is more than $6,000 and you are a Singapore citizen or PR, you must also pay MediSave contributions of between 4% and 10.5% of it, depending on your age and income. Those mandatory contributions get full tax relief. Keep your records for at least five years.
No employer is doing the paperwork for you, so here is the whole job in one place: what to declare, what to deduct, and what MediSave will ask for.
Quick facts
- Form: Form B for self-employed persons and sole proprietors.
- Deadline: 18 April for e-filing, for income earned in the previous calendar year.
- Taxed on: net trade income, added to any other income, at the normal resident rates.
- Expenses: only those incurred wholly and exclusively to produce your business income.
- MediSave: compulsory for citizens and PRs with net trade income above $6,000.
- Records: keep invoices, receipts and accounts for at least five years.
What goes on Form B?
Form B covers all your income for the year, including any salary from a job alongside your freelance work. Your business income is entered as a short statement. IRAS sets the format by revenue: businesses with revenue of $200,000 or less can use a 2-line statement (revenue and adjusted profit or loss); larger businesses use a 4-line statement (revenue, gross profit, allowable expenses and adjusted profit), and those with revenue of $500,000 or more must also prepare a certified statement of accounts. Your net trade income is then added to your other income and taxed at the resident rates.
Which expenses can you deduct?
An expense is deductible if it relates to your business, was incurred to produce your income, and is not barred by tax law. Mixed-use items, like a phone you also use personally, are claimable only for the business share; keep a note of how you worked it out.
| Usually deductible | Not deductible |
|---|---|
| Rental of business premises | Personal and household spending |
| Utilities used for the business | Your own salary or drawings |
| Professional subscriptions and fees | Fines and penalties |
| Repairs to business equipment | Private car expenses |
| Public transport for business trips | Personal medical costs |
| Capital allowances on equipment such as a laptop | The full cost of capital items in one go (claim capital allowances instead) |
Taxi and private-hire car drivers can instead claim a Fixed Expense Deduction Ratio (FEDR): 60% of their gross driving income is treated as expenses, in place of claiming actual costs. Delivery riders earning up to $50,000 a year from delivery work have their own ratios by vehicle type; check IRAS before filing.
How much MediSave do you pay?
The CPF Board receives your assessed net trade income from IRAS and works out what you owe. These are CPF’s rates for self-employed persons who are not government pensioners. Between $12,001 and $18,000, the rate phases in between the two figures shown. Contributions are capped; use CPF’s calculator for your exact figure.
| Net trade income | Below 35 | 35 to below 45 | 45 to below 50 | 50 and above |
|---|---|---|---|---|
| $6,001 to $12,000 | 4% | 4.5% | 5% | 5.25% |
| $12,001 to $18,000 | 4% to 8% | 4.5% to 9% | 5% to 10% | 5.25% to 10.5% |
| Above $18,000 | 8% | 9% | 10% | 10.5% |
Worked example: Mei, 30, is a freelance designer. She invoices $60,000 in a year and has $10,000 of allowable expenses, so her net trade income is $50,000. That is above $18,000, so her MediSave rate is 8%: 8% of $50,000 = $4,000. The $4,000 gets full tax relief. If Mei also does platform work, CPF on those earnings is paid through the platform operator from work year 2025, so it is excluded from this calculation.
- Throughout the year: record every invoice and keep every receipt.
- Early in the year: total last year’s revenue and allowable expenses.
- By 18 April: log in to myTax Portal with Singpass and file Form B.
- After assessment: pay your tax by the date on your Notice of Assessment.
- When CPF writes to you: pay your MediSave contribution.
The WahLiao Verdict
Open a separate bank account for your freelance income, photograph every receipt the day you get it, and put aside part of each invoice for tax and MediSave so April holds no surprises. Claim only what is truly for the business. If your income is lumpy, consider voluntary CPF top-ups in a good year: within the limits, they earn tax relief too.
Questions people ask
I have a full-time job and a side gig. Which form do I file?
If you have self-employed income, you declare it with your salary on Form B. Your side-gig expenses can be deducted against the side-gig income.
Do I need to register a business to be self-employed?
Not always. Freelancers and commission agents can be self-employed without a registered business. What matters is that you work for yourself and bear the business risk.
My net trade income was $5,500. Do I pay MediSave?
No. The compulsory contribution starts when net trade income is above $6,000. You still file your tax return if IRAS asks you to.
Can I claim tax relief on voluntary CPF top-ups?
Yes, up to the lowest of 37% of your net trade income, the annual CPF limit of $37,740 (less mandatory MediSave relief), or what you actually contributed.
Sources: IRAS, basic guide for self-employed persons; IRAS, tax obligations of self-employed persons: statements, records and expenses; Ministry of Manpower, Fixed Expense Deduction Ratios; CPF Board, MediSave contribution rates for the self-employed; CPF Board, tax relief on MediSave and voluntary top-ups. The Ledger explains; it does not advise.
Read next: Income Tax in Singapore: Rates and Reliefs · CPF Accounts Explained · Back to The Ledger
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