Singapore Income Tax Calculator 2024
Year of Assessment 2024 (Income earned in 2023)
Introduction
🎯 What
Singapore Income Tax Calculator 2024 estimates personal income tax payable for Year of Assessment 2024 based on resident tax slabs, chargeable income, and reliefs.
👥 Who
Salaried individuals, Self-employed persons, Freelancers, New residents, and Employees planning tax savings for YA 2024.
💡 Why
To help individuals estimate their tax liability under Singapore’s progressive resident income tax system for YA 2024.
💰 Income & Details
📋 Personal Reliefs
Deductible subject to CPF caps
Total reliefs capped at SGD 80,000
🇸🇬 Tax Summary
Enter your details and calculate
Detailed Tax Breakdown
Singapore Income Tax Overview (YA 2024)
Tax Brackets (YA 2024 Residents)
| Chargeable Income (SGD) | Rate |
|---|---|
| First 20,000 | 0% |
| Next 10,000 | 2% |
| Next 10,000 | 3.5% |
| Next 40,000 | 7% |
| Next 40,000 | 11.5% |
| Next 40,000 | 15% |
| Next 40,000 | 18% |
| Next 40,000 | 19% |
| Next 40,000 | 19.5% |
| Next 40,000 | 20% |
| Next 180,000 | 22% |
| Above 500,000 | 23% / 24% |
Reliefs & Limits
- Relief Cap: Maximum tax relief is capped at SGD 80,000.
- Earned Income Relief: Automatically deducted for active income.
- Course Fees: Relief for up to $5,500.
- Parent Relief: Deduction for supporting dependent parents.
Non-Residents: Taxed at flat 15% (or resident progressive rates if higher) on employment income. Director's fees/others at 24% (2024).
Calculation Examples
Example 1: Resident
Total Income: SGD 80,000
Reliefs: SGD 10,000
Chargeable Income: 70,000
First 20k @ 0% = 0
Next 10k @ 2% = 200
Next 10k @ 3.5% = 350
Remaining 30k @ 7% = 2,100
Total Tax = SGD 2,650
Example 2: Non-Resident
Employment Income: SGD 60,000
Flat 15% Tax: 60,000 × 15% = 9,000
(Resident tax would be approx. 1,900)
Tax Payable = SGD 9,000 (Higher amount
applies)
Frequently Asked Questions
Q: What is chargeable income?
A: It is your Total Income minus all applicable Tax Reliefs and expenses.
Q: Are CPF contributions deductible?
A: Yes, mandatory employee CPF contributions are deductible reliefs, subject to caps.
Q: Is bonus taxable?
A: Yes, contractual and non-contractual bonuses are fully taxable employment income.
Q: Is this calculator official?
A: No, it provides estimates only based on general rules. Use the IRAS portal for official filing.
Disclaimer: This Singapore Income Tax Calculator 2024 is for informational and Google AdSense purposes only. Tax rates and rules are based on general IRAS guidelines for Year of Assessment 2024 and may change. ANTIGRAVITY does not provide tax, legal, or financial advice. Please consult IRAS or a qualified professional for official advice.