This guide is not meant to be a comprehensive guide on Singapore Individual Income Tax. It only covers the tax obligations for Individuals who are Sole-proprietors (Self Employed) or Employees.
Taxable Income
Capital Gains
The tax rates for are shown in the table below. Taxes are charged progressively (0% - 20%) on your chargeable income. The chargeable income is your income plus any other personal income, minus all deductions, relief's and rebates.
For Year of Assessment 2007
Chargeable Income ($) | Rate (%) | Gross Tax Payable ($) | |
On the first On the next |
20 000 10 000 |
0 3.50 |
0.00 350.00 |
On the first On the next |
30 000
10 000 |
5.50 |
350.00 550.00 |
On the first On the next |
40 000 40 000 |
8.50 |
900.00 3 400.00 |
On the first On the next |
80 000 80 000 |
14 |
4 300.00 11 200.00 |
On the first On the next |
160 000 160 000 |
17 |
15 500.00 27 200.00 |
On the first Above |
320 000 320 000 |
20 |
42 700.00 |
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