Understanding Personal Income Tax in Singapore

Singapore’s personal income tax system is simple, progressive, and favourable compared to many countries. Whether you’re a local resident or a foreigner working in Singapore, it’s important to understand your tax obligations and ensure timely, accurate filing with the Inland Revenue Authority of Singapore (IRAS).

Non-compliance or late submissions can result in penalties, audits, and unnecessary stress — all of which can be avoided with proper planning and professional assistance.

Who Needs to File Personal Income Tax in Singapore?

Generally, you are required to file personal income tax in Singapore if:

  • You are a non-resident who derived income from Singapore

  • Your annual income exceeds S$22,000

  • You earn self-employment income with a net profit more than $6,000

Foreigners who work or operate a business in Singapore for more than 183 days in a calendar year are generally considered tax residents.

Income Subject to Tax

Income that may be taxed in Singapore includes:

  • Salaries, bonuses, allowances, commissions

  • Director’s fees

  • Rental income from property

  • Self-employment income (freelance, consultancy)

  • Royalties or professional service fees

  • Retirement benefits (under certain conditions)

Capital gains, inheritance, and dividends from Singapore tax-resident companies are generally not taxed.

Key Tax Filing Deadlines

  • 1 March – 18 April (annually): e-Filing period for individual tax returns (YA basis)

  • 15 April: Deadline for paper filing (if applicable)

  • 31 May: Notification of Notice of Assessment (NOA)

  • 30 days after NOA: Tax payment deadline

Late filing may incur penalties or prosecution under IRAS enforcement.

Tax Reliefs and Deductions for Residents

Eligible residents may claim personal tax reliefs such as:

  • Earned income relief

  • CPF contributions

  • NSman relief

  • Parenthood tax rebates

  • Course fees relief

  • Rental expenses (for landlords)

  • Donations to approved institutions

Understanding and applying the right reliefs can significantly reduce your taxable income.

How Excellence Singapore Simplifies Your Tax Filing

Our experienced team offers full-service personal tax support, including:

  • Assessing your tax residency and applicable rates

  • Preparing and filing Form B1, B, or M accurately

  • Calculating income, reliefs, and deductions

  • Filing rental income and self-employed earnings

  • Managing communication with IRAS on your behalf

  • Filing for foreign nationals and expatriates

  • Advising on tax planning and compliance strategies

Whether you’re an employee, business owner, or landlord, we ensure your tax returns are accurate, optimised, and compliant.

Conclusion: File With Confidence, Stay Compliant

Filing personal income tax doesn’t need to be stressful or time-consuming. With the right partner, you can meet all IRAS obligations while maximising your eligible tax reliefs.

Contact us to get started with your personal tax filing or learn more about our comprehensive tax services.