Tax facts: Personal income tax

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An overview of personal income tax

Individuals (resident and non-resident), are only liable to income tax in respect of income accruing in or derived from Singapore. The tax year is the calendar year.

Filing deadline

Paper file - 15 April

E-file - 18 April

Bulk extension by tax preparer - 30 June

Notice of assessment

Most taxpayers should receive their Notice of Assessment from end of April onwards. These are issued in batches so some taxpayers may receive them earlier than others.
Tax assessed has to be paid within 1 month from the date of the Notice of Assessment unless the taxpayer is allowed to pay by instalment through GIRO (a direct debit plan). If you disagree with the tax assessment, you have 30 days to file an objection.

From YA2024, two new personal income tax (PIT) rates of 23% and 24% will be introduced on top of the existing progressive tax rates.

Rates (before YA 2024)

Chargeable income (SGD) - Tax rate

On the first 20,000 - 0%
On the next 10,000 - 2%
On the next 10,000 - 3.5%
On the next 40,000 - 7%
On the next 40,000 - 11.5%
On the next 40,000 - 15%
On the next 40,000 - 18%
On the next 40,000 - 19%
On the next 40,000 - 19.5%
On the next 40,000 - 20%
In excess of 320,000 - 22% (the rate will change from YA2024)

Rates (from YA 2024)

From YA2024, two new personal income tax (PIT) rates of 23% and 24% will be introduced on top of the existing progressive tax rates.

Chargeable income (SGD) - Tax rate

On the first 20,000 - 0%
On the next 10,000 - 2%
On the next 10,000 - 3.5%
On the next 40,000 - 7%
On the next 40,000 - 11.5%
On the next 40,000 - 15%
On the next 40,000 - 18%
On the next 40,000 - 19%
On the next 40,000 - 19.5%
On the next 40,000 - 20%
On the next 180,000 - 22%
On the next 500,000 - 23%
In excess of 1,000,000 - 24%

Central Provident Fund (CPF) contributions

Singapore Citizens and Permanent Residents are subject to Central Provident Fund (CPF) contributions on their employment income.

For the first two years of an employee obtaining Singapore Permanent Resident status, both employer and employee will contribute CPF at graduated rates, unless both parties jointly apply to contribute CPF at a higher rate.

Employer contributions gradually commence when an employee’s wages are more than $50 a month. Employee contributions gradually commence when wages are more than $500 a month. The maximum contribution rate occurs when wages are more than $750 a month, as summarised by the table below.

CPF contribution rates

	Contribution rates (monthly wages > $750)
Employee’s age (years)	By employer (% of wage)	By employee (% of wage)
55 and below	17	20
Above 55 to 60	14.5 (14 before 1 Jan 2023)	15 (14 before 1 Jan 2023)
Above 60 to 65	11 (10 before 1 Jan 2023)	9.5 (8.5 before 1 Jan 2023)
Above 65 to 70	8.5 (8 before 1 Jan 2023)	7 (6 before 1 Jan 2023)
Above 70	7.5	5