Not tax advice. Computation tools only. Have a professional check your work before filing.
OpenAccountants/Skills/Singapore Income Tax

Singapore Income Tax

Asked about Singapore income tax for self-employed individuals.

SingaporeTax year 2025· Last reviewed Apr 13, 2026

Key facts — Singapore, 2025

FieldValue
CountrySingapore
TaxIncome Tax (progressive 0--24%)
CurrencySGD only
Tax year basisPreceding year: YA 2026 = income earned in calendar year 2025
Primary legislationIncome Tax Act 1947 (ITA)
Tax authorityInland Revenue Authority of Singapore (IRAS)
Filing portalmyTax Portal (mytax.iras.gov.sg) via Singpass
Filing deadline18 April of the YA (e.g., 18 April 2026 for YA 2026)
ContributorOpen Accountants Community
Validated byPending -- requires sign-off by an Accredited Tax Adviser (Singapore)
Skill version2.0

Use these rules in your AI

Connect once and your AI follows Singapore Income Tax automatically — it stays current when a rate changes, and hands you to a licensed accountant when you need one. A copied file goes stale the day the law moves.

Use this in your AI

Want a licensed accountant to check your AI-generated return?

Get reviewed

Are you a Singapore accountant? Sign off these rules and put your name on them.

These rules are research-verified. They need a licensed practitioner for Singapore to confirm them and become their named verifier. Reviewing reference rules — not signing returns.

Apply to verify Singapore

About

Use this skill whenever asked about Singapore income tax for self-employed individuals. Trigger on phrases like "how much tax do I pay in Singapore", "Form B", "Form B1", "IRAS income tax", "trade income", "capital allowances Singapore", "personal reliefs", "tax residence 183 days", "Section 10(1)(a)", "CPF self-employed", "self-employed tax Singapore", "myTax Portal", "DBS Bank statement", "OCBC income", "PayNow transfer", "Stripe Singapore", or any question about filing or computing income tax for a Singapore sole proprietor or freelancer. This skill covers progressive rates (0--24%), trade income computation, capital allowances (Section 19/19A), approved deductions, personal reliefs, CPF MediSave, tax residence rules, filing deadlines, and penalties. ALWAYS read this skill before touching any Singapore income tax work.

SingaporeTax year 2025

Full guide

Singapore Income Tax -- Self-Employed Skill v2.0


Section 1 -- Quick Reference

FieldValue
CountrySingapore
TaxIncome Tax (progressive 0--24%)
CurrencySGD only
Tax year basisPreceding year: YA 2026 = income earned in calendar year 2025
Primary legislationIncome Tax Act 1947 (ITA)
Tax authorityInland Revenue Authority of Singapore (IRAS)
Filing portalmyTax Portal (mytax.iras.gov.sg) via Singpass
Filing deadline18 April of the YA (e.g., 18 April 2026 for YA 2026)
ContributorOpen Accountants Community
Validated byPending -- requires sign-off by an Accredited Tax Adviser (Singapore)
Skill version2.0

Progressive Rate Table -- YA 2026 (Income Earned 2025) [T1]

Chargeable Income (SGD)RateGross Tax Payable (Cumulative)
First 20,0000%0
Next 10,000 (20,001--30,000)2%200
Next 10,000 (30,001--40,000)3.5%550
Next 40,000 (40,001--80,000)7%3,350
Next 40,000 (80,001--120,000)11.5%7,950
Next 40,000 (120,001--160,000)15%13,950
Next 40,000 (160,001--200,000)18%21,150
Next 40,000 (200,001--240,000)19%28,750
Next 40,000 (240,001--280,000)19.5%36,550
Next 40,000 (280,001--320,000)20%44,550
Next 180,000 (320,001--500,000)22%84,150
Next 500,000 (500,001--1,000,000)23%199,150
Above 1,000,00024%--

Key Thresholds [T1]

ItemAmount (SGD)
Personal relief cap80,000 per YA
GST registration threshold1,000,000 taxable turnover
Section 19A(10A) low-value asset cap30,000 per YA (individual assets < 5,000 each)
Must-file thresholdTaxable income > 22,000 or self-employed with net trade income
CPF MediSave (self-employed)Mandatory based on net trade income and age

Conservative Defaults [T1]

AmbiguityDefault
Tax residence unknownSTOP -- do not compute
GST status unknownNon-GST registered (report gross including any GST component)
Vehicle type unknownPrivate car (S-plate) -- NO capital allowances
Business vs capital expenditure unclearCapital (no deduction until confirmed as revenue)
Home office apportionment unknown0% deduction until confirmed
Personal relief amounts unknownApply only confirmed reliefs

Section 2 -- Required Inputs and Refusal Catalogue

Required Inputs

Minimum viable: Bank statement for the full calendar year (January--December) in CSV, PDF, or pasted text, plus confirmation of tax residence status and whether GST-registered.

Recommended: All client invoices, CPF contribution statements (for MediSave), SRS contribution statements, life insurance and course fee receipts (for reliefs).

Ideal: Capital asset register, prior year NOA (Notice of Assessment), Form IR8A (if also employed), GST returns (if GST-registered).

Refusal Catalogue

R-SG-1 -- Non-residents. "Non-resident self-employment income from Singapore is taxable but at different rates. Non-resident computation is outside this skill scope. Escalate."

R-SG-2 -- Companies (Pte Ltd, Ltd). "Corporate income tax (CIT at 17%) and corporate filing are out of scope. This skill covers individual self-employed persons only."

R-SG-3 -- Partnerships. "Partnership income allocation determination is outside this skill scope. Escalate."

R-SG-4 -- Capital gains / property disposals. "Gains from property that are revenue in nature require specialist review. Escalate."

R-SG-5 -- GST computation. "GST registration, return filing, and input tax claims are outside this skill scope."


Section 3 -- Transaction Pattern Library

This is the deterministic pre-classifier. When a bank statement line matches a pattern, apply the treatment directly. If no pattern matches, fall through to Tier 1 rules in Section 5.

3.1 Income Patterns (Credits)

PatternTax LineTreatmentNotes
FAST [client name] / FAST CREDITTrade income (Section 10(1)(a))Gross revenueLocal fast payment from business client
PayNow [sender name] / PAYNOW CREDITTrade incomeRevenuePayNow (linked to NRIC/UEN) -- electronic payment
GIRO CREDIT [client]Trade incomeRevenueGIRO standing instruction payment from client
TT FROM [client] / TELEGRAPHIC TRANSFERTrade incomeRevenueOverseas client wire transfer
STRIPE PAYOUT SG / STRIPE TRANSFERTrade incomeRevenueStripe Singapore payout -- net of Stripe fees
WISE TRANSFER IN / WISE CREDITTrade incomeRevenueWise (formerly TransferWise) international payout
PAYPAL SG TRANSFER / PAYPAL CREDITTrade incomeRevenuePayPal business payout
SHOPEE PAY SETTLEMENT / SHOPEE PAYOUTTrade incomeRevenueShopee e-commerce seller settlement
CAROUSELL PAYOUT / CAROUSELL SETTLEMENTTrade incomeRevenueCarousell business seller payout
GRAB FOR BUSINESS / GRABPAY SETTLEMENTTrade incomeRevenueGrabPay business payout
CHEQUE DEPOSIT / CHQ DEP [ref]Trade incomeRevenueClient cheque
SALARY CREDIT [employer]Employment incomeNOT trade incomeSeparate head; Form IR8A / Form B1
INTEREST CREDIT / INT EARNED [bank]Interest incomeNOT trade incomeBank interest -- may be exempt for individuals
DIVIDEND FROM [company]Dividend incomeNOT trade incomeSingapore one-tier dividends are generally exempt
INCOME TAX REFUND / IRAS REFUNDEXCLUDENot incomeTax refund
LOAN DRAWDOWN / LOAN DISBURSEMENTEXCLUDENot incomeLoan proceeds

3.2 Expense Patterns (Debits)

PatternExpense CategoryTreatmentNotes
OFFICE RENT [landlord] / COMMERCIAL LEASERentFully deductibleDedicated business premises
SERVICED OFFICE [WeWork/JustCo/The Work Project]RentFully deductibleHot desks / co-working fully deductible
SP SERVICES / SP GROUP UTILITIESUtilitiesBusiness portion deductibleHome office: apportion
SINGTEL BROADBAND / STARHUB HOME / M1 FIBRECommunicationsBusiness portion deductibleMixed use: apportion
SINGTEL MOBILE / STARHUB MOBILE / M1 MOBILECommunicationsBusiness portion deductibleMixed use: apportion
GRAB [ride for business] / COMFORT TAXITravelDeductible if business purposeKeep receipts and log
SINGAPORE AIRLINES / SCOOT / JETSTARTravelDeductible if business travelKeep itinerary and business purpose
MRT / SBS TRANSIT / EZ-LINKTravelDeductible if businessCommuting to/from home is NOT deductible
GOOGLE ADS / META / LINKEDINAdvertisingFully deductible
AMAZON.SG [supplies] / CHALLENGER [office]Office suppliesFully deductibleBusiness purchases
ADOBE / MICROSOFT 365 / NOTION / SLACKSoftwareFully deductible (subscription)Subscriptions expense in year; owned software may be capital
CPFB [CPF BOARD] MEDISAVECPF (personal relief)NOT business expenseMediSave is a personal relief (CPF relief)
AIA / PRUDENTIAL / GREAT EASTERN / NTUC INCOMENOT business expensePersonal insuranceLife insurance = personal relief (limited)
IRAS INCOME TAX / IRAS NOAEXCLUDETax paymentNot deductible
IRAS GST PAYMENTEXCLUDEIndirect tax paymentNot income tax
BANK CHARGES / ADMIN FEE [DBS/OCBC/UOB]Bank chargesFully deductibleBusiness account only
STRIPE FEE / PAYPAL FEE / WISE FEETransaction feesFully deductiblePayment processing costs
HIRE PURCHASE / VEHICLE LOAN [bank]Capital repaymentNOT deductiblePrincipal repayment; interest portion may be deductible
PERSONAL WITHDRAWAL / OWN TRANSFEREXCLUDEDrawingsNot business expense

3.3 Capital Allowance Qualifying Assets

Asset PurchasedSection 19A OptionNotes
Computer / laptop [Apple/Lenovo/Dell/HP]One-year write-off (100%)Below SGD 5,000: Section 19A(10A)
Office phone / tabletOne-year write-offBelow SGD 5,000: Section 19A(10A)
Office furniture / desk [IKEA/Harvey Norman/Gain City]3-year write-off or standard6-year standard useful life
Camera / video equipment (business)One-year or 3-yearIf revenue-earning asset
Private car (S-plate)NO capital allowancesRunning costs for business use may be claimed
Commercial van / lorryStandard Section 19Capital allowances claimable

Section 4 -- Worked Examples

Example 1 -- PayNow Business Receipt

Input line (DBS Bank statement): 15 Mar 2025 | PayNow Credit ALPHA DESIGN PTE LTD | +8,500.00 | Balance 24,310.50

Reasoning: PayNow receipt from a business client for design services. This is trade income under Section 10(1)(a). If the taxpayer is GST-registered (above SGD 1M threshold), the SGD 8,500 may include 9% GST. If GST-registered: gross revenue = SGD 8,500/1.09 = SGD 7,798.17 (trade income) + SGD 701.83 (GST liability). If not GST-registered: full SGD 8,500 is trade income.

Classification: Trade income SGD 8,500 (or SGD 7,798.17 net if GST-registered).

Example 2 -- Stripe Payout (Net of Stripe Fees)

Input line (OCBC Bank statement): 22 Apr 2025 | STRIPE PAYOUT SG | +4,850.00 | Available Balance 31,200.00

Reasoning: Stripe processes payments and pays out net of its fees. If Stripe collected SGD 5,000 from clients and deducted SGD 150 in fees, the payout is SGD 4,850. The gross trade income is SGD 5,000; the Stripe fee of SGD 150 is a deductible business expense. Match to Stripe dashboard for exact gross and fee amounts.

Classification: Gross trade income SGD 5,000; Stripe fees SGD 150 deductible.

Example 3 -- CPF MediSave Payment

Input line (UOB Bank statement): 01 May 2025 | CPFB MEDISAVE CONTRIBUTION | -3,600.00 | Balance 15,400.00

Reasoning: Self-employed person's mandatory MediSave contribution to CPF Board. This is NOT a business expense. It is deductible as a CPF relief (personal relief) under the personal reliefs section. The exact amount depends on net trade income and age (rates range 4%--10.5%). Claim as CPF contribution relief, subject to the overall SGD 80,000 personal relief cap.

Classification: EXCLUDE from trade expenses. Record as CPF contribution relief (personal relief).

Example 4 -- WeWork Office Subscription

Input line (DBS Bank statement): 01 Jun 2025 | WEWORK SINGAPORE PTE LTD | -1,200.00 | Balance 28,750.00

Reasoning: WeWork hot desk / dedicated desk monthly fee. This is office rent -- a deductible business expense under Section 14(1) ITA (wholly and exclusively incurred in the production of income). No apportionment needed for a dedicated business workspace.

Classification: Rent / office costs SGD 1,200. Fully deductible.

Example 5 -- Laptop Purchase

Input line (OCBC Bank statement): 15 Jul 2025 | APPLE SINGAPORE PTE LTD | -2,899.00 | Balance 19,200.00

Reasoning: Apple MacBook purchase SGD 2,899. Capital asset under Section 19A(10A): assets costing below SGD 5,000 individually can be written off 100% in the year of acquisition. Total low-value assets in the year must not exceed SGD 30,000. Since SGD 2,899 < SGD 5,000 and within the cap, 100% capital allowance applies.

Classification: Capital allowance SGD 2,899 (100% write-off under Section 19A(10A)).

Example 6 -- Private Car Expense

Input line (UOB Bank statement): 10 Aug 2025 | SHELL SELECT QUEENSTOWN | -120.00 | Balance 22,100.00

Reasoning: Petrol purchased at Shell station SGD 120. The taxpayer drives a private car (S-plate). Capital allowances on private cars are NOT claimable. Running costs (petrol, parking, ERP) attributable to documented business trips may be deducted. Requires mileage log or trip records. Without documentation, default is 0% deduction.

Classification: Motor vehicle expense -- PENDING. Default: 0%. Flag for reviewer to confirm business trip documentation.


Section 5 -- Tier 1 Rules (When Data Is Clear)

5.1 Trade Income Computation

Legislation: ITA Section 10(1)(a)

Gross revenue from trade/business/profession/vocation
Less: Allowable business expenses (Section 14)
Add: Balancing charges (if assets disposed)
Less: Capital allowances (Section 19/19A)
= Adjusted trade income
Less: Approved donations (250% deduction)
= Assessable income
Less: Personal reliefs (Section 36-40, capped at SGD 80,000)
= Chargeable income
Apply rate table
Less: Tax rebates
= Net tax payable

5.2 Capital Allowances

Legislation: ITA Sections 19, 19A, 19A(10A)

MethodDetails
Section 19 (standard)Initial allowance 20% + annual allowance over prescribed working life (6, 12, or 16 years)
Section 19A (one-year)100% in year of acquisition (irrevocable; applies to ALL assets acquired in that YA)
Section 19A (three-year)33.33% per year over 3 years
Section 19A(10A) (low-value)100% for assets < SGD 5,000 each; cap SGD 30,000/year aggregate

Private cars (S-plate): NO capital allowances.

5.3 Allowable Business Expenses

Legislation: ITA Section 14 -- "wholly and exclusively incurred in the production of income"

Fully deductible if the test is met: rent for business premises, professional indemnity insurance, accounting/tax fees, office supplies, software subscriptions, marketing, bank charges, travel for business, business entertainment (with documentation).

NOT deductible (Section 15): domestic/private expenses, capital expenditure (unless through CA), income tax itself, fines/penalties, drawings.

5.4 Personal Reliefs

Legislation: ITA Sections 36--40; cap SGD 80,000 per YA

ReliefAmount (SGD)
Earned income relief (below 55)Lower of actual earned income or 1,000
Earned income relief (55--59)Lower of actual earned income or 6,000
Earned income relief (60+)Lower of actual earned income or 8,000
CPF relief (self-employed)Mandatory MediSave contributions
CPF cash top-upUp to 8,000 (own) + 8,000 (family)
SRS reliefUp to 15,300 (citizens/PRs) or 35,700 (foreigners)
Spouse relief2,000 (spouse income ≤ SGD 4,000)
Qualifying child relief4,000 per child
Handicapped child relief7,500 per child
Parent relief9,000 / 14,000 (handicapped)
Life insuranceUp to 5,000 (only if CPF contributions < 5,000)
Course feesUp to 5,500
Approved donations250% of donation (deducted from assessable income, NOT subject to SGD 80,000 cap)

5.5 Filing Deadlines

ItemDeadline
Form B (self-employed) -- e-filing18 April of the YA
Form B -- paper filing15 April of the YA
Tax paymentWithin 1 month of NOA
GIRO instalment12 monthly instalments (apply by specified date)

5.6 Penalties

OffencePenalty
Late filingSGD 200--1,000 per offence
Non-filing (estimated assessment)Estimated NOA issued; 5% penalty on tax owed
Incorrect returnUp to 200% of tax undercharged
Wilful tax evasionUp to SGD 50,000 and/or 3 years imprisonment; 400% penalty
Late payment5% on unpaid tax after 30 days; +1%/month thereafter (max 12%)

Section 6 -- Tier 2 Catalogue (Reviewer Judgement Required)

6.1 Home Office Deduction

IRAS does not have a blanket home office scheme. However, expenses attributable to the business use of a home (additional electricity, dedicated internet line, pro-rata rent if a room is exclusively for business) may be claimed if the home is an actual place of business. Apportionment basis must be reasonable (floor area ratio or time-based).

Flag for reviewer: Confirm apportionment basis, documentation, and whether IRAS has been notified that business is conducted from home.

6.2 Private Car Business Use

Running costs (petrol, parking, ERP, road tax) for documented business trips are potentially deductible. Capital allowances are NOT available for private (S-plate) cars. A mileage log or contemporaneous trip record is required.

Flag for reviewer: Confirm vehicle type, business-use percentage, and documentation method.

6.3 Capital vs Revenue Expenditure

IRAS distinguishes between revenue expenses (deductible in year incurred) and capital expenditure (deductible only through capital allowances). Renovation/refurbishment costs are generally capital but Section 14Q allows a 3-year deduction (capped at SGD 300,000 per 3-year period).

6.4 CPF MediSave Contributions

Mandatory MediSave contribution rates for self-employed persons vary by age and net trade income. The contribution is between 4% and 10.5% of net trade income, subject to a cap.

Flag for reviewer: Calculate exact contribution using IRAS/CPF tables for client's age group.

6.5 Working Mother's Child Relief (WMCR)

WMCR is available only to working mothers (citizens or PRs). The relief is 15%/20%/25% of earned income for 1st/2nd/3rd+ children. Combined QCR + WMCR capped at SGD 50,000 per child.


Section 7 -- Excel Working Paper Template

SINGAPORE INCOME TAX WORKING PAPER
Taxpayer: _______________  NRIC/FIN: ___________
Year of Assessment: YA 2026 (income earned in 2025)
GST registered: Yes / No [circle one]

A. GROSS TRADE REVENUE
  A1. Total receipts from clients             ___________
  A2. Less: GST collected (if GST-registered) ___________
  A3. Net trade revenue                       ___________

B. ALLOWABLE BUSINESS EXPENSES
  B1. Rent / co-working space                 ___________
  B2. Utilities (business %)                  ___________
  B3. Communications (business %)             ___________
  B4. Travel (business)                       ___________
  B5. Advertising / marketing                 ___________
  B6. Professional fees (accounting, legal)   ___________
  B7. Software / subscriptions                ___________
  B8. Office supplies                         ___________
  B9. Business entertainment                  ___________
  B10. Bank / transaction fees                ___________
  B11. Other allowable expenses               ___________
  B12. Total business expenses                ___________

C. CAPITAL ALLOWANCES
  C1. Section 19A(10A) low-value assets       ___________
  C2. Section 19A one-year / three-year       ___________
  C3. Section 19 standard annual allowance    ___________
  C4. Total capital allowances                ___________

D. ADJUSTED TRADE INCOME (A3 - B12 - C4)      ___________

E. APPROVED DONATIONS (x 250%)               ___________

F. ASSESSABLE INCOME (D - E)                  ___________

G. PERSONAL RELIEFS
  G1. Earned income relief                    ___________
  G2. CPF MediSave contribution               ___________
  G3. SRS contribution                        ___________
  G4. Spouse relief                           ___________
  G5. Child reliefs (QCR / WMCR)             ___________
  G6. Parent relief                           ___________
  G7. Course fees relief                      ___________
  G8. Other reliefs                           ___________
  G9. Total reliefs (cap: SGD 80,000)         ___________

H. CHARGEABLE INCOME (F - G9)                 ___________

I. GROSS TAX (apply rate table)               ___________

J. LESS: TAX REBATES                          ___________

K. NET TAX PAYABLE (I - J)                    ___________

REVIEWER FLAGS:
  [ ] Tax residence confirmed (183 days / citizen / PR)?
  [ ] GST status confirmed?
  [ ] Capital vs revenue expenditure reviewed?
  [ ] Private car: no capital allowances?
  [ ] Personal relief cap SGD 80,000 checked?
  [ ] Donations deducted from assessable income (not personal reliefs)?

Section 8 -- Bank Statement Reading Guide

Singapore Bank Statement Formats

BankFormatKey Fields
DBS / POSBCSV / PDFDate, Reference, Debit, Credit, Balance
OCBCCSVTransaction Date, Description, Withdrawals (SGD), Deposits (SGD), Balance (SGD)
UOBCSV / PDFTrans. Date, Description, Debit, Credit, Available Balance
Standard Chartered SGCSVDate, Description, Debit, Credit, Running Balance
Citibank SGCSVDate, Description, Debit Amount, Credit Amount
Wise SGCSVDate, Description, Amount, Currency, Running Balance

Key Singapore Banking Narrations

NarrationMeaningClassification Hint
FAST / FAST CREDIT [name]Funds transfer via FASTPotential income from client
PayNow Credit [name/UEN]PayNow receiptBusiness income
GIRO Credit / GIRO DebitStanding instructionRegular income or recurring expense
IBG / INTERBANK GIROInterbank GIROIncome or expense transfer
TT FROM [bank/name]Telegraphic transfer inOverseas client income
PAYNOW QRPayNow QR code paymentBusiness income
ATM WITHDRAWALCash withdrawalPersonal -- investigate
INTEREST CREDITBank interestOther income (may be exempt)
IRAS GIROIRAS tax paymentTax payment -- exclude
CPFBCPF Board paymentMediSave -- personal relief

Section 9 -- Onboarding Fallback

If the client provides a bank statement but cannot answer onboarding questions immediately:

  1. Classify all FAST/PayNow/GIRO credits from non-personal sources as potential trade income
  2. Classify all CPFB debits as MediSave (personal relief -- not business expense)
  3. Apply conservative defaults: non-GST registered, no capital allowances for vehicles, 0% home office
  4. Flag all large purchases > SGD 5,000 as potential capital expenditure requiring review
  5. Generate working paper with PENDING flags

Present these questions:

ONBOARDING QUESTIONS -- SINGAPORE INCOME TAX
1. Are you a Singapore citizen, PR, or foreigner (and if foreigner, how many days in Singapore)?
2. Are you GST-registered?
3. Are you filing as a sole proprietor (Form B) or employee (Form B1)?
4. What is your main business / profession?
5. Do you have an office outside your home, or do you work from home?
6. Do you use a vehicle for work? If so, is it a private car (S-plate) or commercial vehicle?
7. CPF: what MediSave contributions did you make this year?
8. SRS: did you make Supplementary Retirement Scheme contributions?
9. Do you have qualifying children or dependent parents?
10. Any approved donations to IPCs this year?

Section 10 -- Reference Material

Key Legislation

TopicSection
Trade incomeITA Section 10(1)(a)
Allowable expensesITA Section 14
Prohibited deductionsITA Section 15
Capital allowances (standard)ITA Section 19
Capital allowances (accelerated)ITA Section 19A
Low-value asset write-offITA Section 19A(10A)
Renovation/refurbishmentITA Section 14Q
Personal reliefsITA Sections 36--40
Record keepingITA Section 67

Known Gaps / Out of Scope

  • Non-resident income tax
  • GST computation and returns
  • Corporate income tax (Pte Ltd, etc.)
  • Partnership income allocation
  • Property gains / capital gains
  • NOR scheme (abolished after YA 2024)

Changelog

VersionDateChange
2.0April 2026Full rewrite to v2.0 structure; Singapore bank formats; local platform patterns (PayNow, Stripe SG, Shopee); worked examples
1.02025Initial version

Self-Check

  • Preceding year basis confirmed? (YA 2026 = 2025 income)
  • GST excluded from trade income for GST-registered taxpayers?
  • Personal relief cap SGD 80,000 applied?
  • Approved donations deducted from assessable income (not personal reliefs)?
  • Capital allowances for private cars NOT claimed?
  • Section 19A election irrevocability noted?

PROHIBITIONS

  • NEVER apply resident tax rates without confirming tax residence (183-day rule, citizen, or PR status)
  • NEVER include GST collected on sales as trade income for GST-registered taxpayers
  • NEVER allow capital allowances on private S-plate cars
  • NEVER allow income tax itself as a deductible expense
  • NEVER allow personal or domestic expenses as business deductions
  • NEVER allow personal reliefs to exceed SGD 80,000 (note: approved donations are NOT subject to this cap)
  • NEVER apply NOR scheme concessions -- scheme is expired after YA 2024
  • NEVER confuse Year of Assessment with basis period (YA 2026 ≠ 2026 income)
  • NEVER present tax calculations as definitive -- always label as estimated and direct client to their Accredited Tax Adviser for confirmation

Disclaimer

This skill and its outputs are provided for informational and computational purposes only and do not constitute tax, legal, or financial advice. Open Accountants and its contributors accept no liability for any errors, omissions, or outcomes arising from the use of this skill. All outputs must be reviewed and signed off by a qualified professional (such as an Accredited Tax Adviser, Chartered Accountant, or equivalent licensed practitioner in Singapore) before filing or acting upon.

The most up-to-date, verified version of this skill is maintained at openaccountants.com. Log in to access the latest version, request a professional review from a licensed accountant, and track updates as tax law changes.


<!-- openaccountants-cta-block -->

Talk to a verified accountant

This skill is a tool, not an engagement. Every taxpayer's situation is different, and the rules in the skill may not match your specific facts.

To speak with one of the licensed accountants who verifies skills for your jurisdiction — no liability on either side until you and the accountant sign a formal engagement letter — book a free 30-minute call:

Book a call

We'll route you to the named verifier covering your country or state. You can also see the full list of verified accountants at openaccountants.com/network.

More Singapore tax skills

Other Singapore computations in the OpenAccountants library.

See all Singapore skills →

4 of 8 in the SG workflow: