Personal Income Tax for Singapore Residents
You will be considered a tax resident for a specific Year of Assessment (YA) if you are:
- A Singapore Citizen or Singapore Permanent Resident residing in this country, except for temporary absences or
- A foreigner who has stayed or worked in Singapore:
- For at least 183 days in the preceding calendar year or
- Continuously for 3 consecutive years, even if the stay in Singapore may be less than 183 days in the first or third year or
- A foreigner who has worked in Singapore for a continuous period spanning 2 calendar years, with a total stay of at least 183 days. It applies to employees entering this country but excludes company directors, public entertainers, or professionals.
Starting from YA 2024, the top marginal personal income tax rate has risen to enhance progressivity. Income exceeding S$500,000 up to S$1 million will be taxed at 23%, while income over S$1 million will be taxed at 24%, up from the current 22%.
The personal income tax rates for residents from YA 2024 onwards are:
| Chargeable Income | Income Tax Rate (%) | Gross Tax Payable ($) |
|---|---|---|
| First S$20,000 Next S$10,000 |
0 2 |
0 200 |
| First S$30,000 Next S$10,000 |
– 3.50 |
200 350 |
| First S$40,000 Next S$40,000 |
– 7 |
550 2,800 |
| First S$80,000 Next S$40,000 |
– 11.5 |
3,350 4,600 |
| First S$120,000 Next S$40,000 |
– 15 |
7,950 6,000 |
| First S$160,000 Next S$40,000 |
– 18 |
13,950 7,200 |
| First S$200,000 Next S$40,000 |
– 19 |
21,150 7,600 |
| First S$240,000 Next S$40,000 |
– 19.5 |
28,750 7,800 |
| First S$280,000
Next S$40,000 |
– 20 |
36,550 8,000 |
| First S$320,000 Next S$180,000 |
– 22 |
44,550 39,600 |
| First S$500,000 Next S$500,000 |
– 23 |
84,150 115,000 |
| First S$1,000,000 In excess of S$1,000,000 |
– 24 |
199,150 |
