What is the Singapore Income Tax?
Singapore's income tax is progressive but low, from 0% on the first S$20,000 to a top rate of 24%. There is no capital gains tax and no tax on most foreign-sourced income.
CPF (Central Provident Fund) takes 20% of ordinary wages from employees aged 55 and under, with 17% more from employers, funding retirement, housing and healthcare. From 1 January 2026 the Ordinary Wage ceiling is S$8,000 a month, so CPF stops accruing on salary above that. CPF contributions reduce chargeable income.
Formula & worked example
Tax = progressive brackets 0% to 24%
Non-residents: flat 15% or resident rates, whichever is higher
Worked example: S$120,000 income at 35 with S$12,000 of reliefs. CPF at 20% of the S$96,000 Ordinary Wage ceiling (S$8,000 a month) is S$19,200, leaving chargeable income of S$88,800. Tax comes to roughly S$4,362 — an effective rate of just 3.6%, among the lowest in the developed world. Take-home is about S$8,037 a month.
How to use this singapore income tax calculator
- Enter your annual income including bonuses.
- CPF rates step down with age; the calculator applies the right band.
- Add reliefs: CPF top-ups, SRS contributions, course fees, parent relief.
- Non-residents pay a flat 15% or resident rates, whichever is higher.
Smart tips
- Voluntary CPF cash top-ups give tax relief of up to S$8,000 for top-ups to your own account, plus up to S$8,000 more for top-ups to family members.
- The Supplementary Retirement Scheme allows a further S$15,300 of tax-deductible contributions for citizens and PRs.
- Total personal reliefs are capped at S$80,000 per Year of Assessment.
- Singapore has no capital gains tax, making it very attractive for investors.
- Tax residency requires at least 183 days in Singapore in the calendar year.
Frequently asked questions
What is the income tax rate in Singapore?
Progressive from 0% on the first S$20,000 to 24% above S$1 million. Effective rates are low by international standards.
What is CPF?
The Central Provident Fund — a mandatory savings scheme taking 20% from employees aged 55 and under and 17% from employers, funding retirement, housing and healthcare. Rates step down with age: from 1 January 2026 the employee share is 18% above 55 to 60, 12.5% above 60 to 65, 7.5% above 65 to 70 and 5% above 70.
Does Singapore tax capital gains?
No. There is no capital gains tax, and most foreign-sourced income received in Singapore is also exempt.
What is the relief cap?
Total personal income tax reliefs are capped at S$80,000 per year of assessment.
Want the theory behind the numbers? Browse the Money Blog for worked guides.
Written by Gurjeet Singh, Sharpen Solutions. Last reviewed 15 Oct 2026. Sources: IRAS — resident individual income tax rates, CPF Board — contribution rates and the Ordinary Wage ceiling (from 1 Jan 2026). How we check these numbers.