TAX INFO

TAX INFO

Saturday, 29 September 2012 07:49 administrator

We have drawn the following information relating to individual taxation that you may find useful.

Singapore Tax Residents

Different tax rates apply for tax residents and non-residents. You will be treated as a tax resident for a particular Year of Assessment (YA) if you are a:

Singaporean; or
Singapore Permanent Resident if you have established your permanent home in Singapore; or
Foreigner who for 183 days or more in previous year (excludes director of a company).

Otherwise, you will be treated as a non-resident of Singapore for tax purposes.

Tax rates for Singapore tax resident individuals (From YA 2015* and YA 2016)

Chargeable Income

Rate

Gross Tax Payable

First $ 20,000
Next $ 10,000

0%
2%

$ 0
$ 200

First $ 30,000
Next $ 10,000

-
3.50%

$ 200
$ 350

First $ 40,000
Next $ 40,000

-
7%

$ 550
$ 2,800

First $ 80,000
Next $ 40,000

-
11.5%

$ 3,350
$ 4,600

First $ 120,000
Next $ 40,000

-
15%

$ 7,950
$ 6,000

First $ 160,000
Next $ 40,000

-
17%

$ 13,950
$ 6,800

First $ 200,000
Next $ 120,000

-
18%

$ 20,750
$ 21,600

First $ 320,000
Above $ 320,000

-
20%

$ 42,350

* YA 2015 tax rebate of 50%, capped at S$1,000.

Non-resident Individuals

Your is taxed at 15% or resident rate, whichever gives rise to a higher tax amount. The director’s fees, consultation fees and all other that you received will be taxed at 20%. Payments such director’s fees may be subject to Singapore withholding tax.