Singapore IRAS Personal Income Tax Rates & Reliefs Guide 2026

Complete guide to Singapore personal income tax rates (0% to 24%) under IRAS. Explains progressive tax brackets, S$80k relief cap, & SRS tax savings.

Statutory Overview & Legal Tax Framework

Personal income tax in Singapore is governed by the Inland Revenue Authority of Singapore (IRAS) under the Income Tax Act (Cap. 134). Singapore operates a territorial and progressive personal income tax system for tax residents, with tax rates ranging from 0% (first S$20,000 of chargeable income) to a maximum of 24% for chargeable income exceeding S$1,000,000. Foreign-sourced income received in Singapore by individuals is generally tax-exempt under Section 10(25). Tax residents can claim personal reliefs subject to an aggregate tax relief cap of S$80,000 per Year of Assessment (YA), including Earned Income Relief, CPF Reliefs, and Supplementary Retirement Scheme (SRS) tax deductions.

Key Tax Criteria & Statutory Rules

Progressive Resident Tax Bracket System (0% - 24%)Progressive Rates

0% for first S$20k; 2% on next S$10k; 3.5% next S$10k; scaling up to 24% for income above S$1M.

Aggregate Personal Tax Relief Cap (S$80,000)S$80k Relief Cap

Total personal tax reliefs claimed by an individual across all categories cannot exceed S$80,000 per YA.

Supplementary Retirement Scheme (SRS) Tax DeductionsSRS Tax Savings

1-to-1 dollar tax deduction for voluntary SRS contributions up to S$15,300 (Citizens/PRs) or S$35,700 (Foreigners).

Single-Tier Corporate Dividend & Capital Gains Exemption0% Capital Gains

0% tax on capital gains from stock/property investments and 0% tax on dividends from Singapore companies.

Qualification Rules & Tax Compliance

Applies to all individuals earning employment, trade, or investment income in Singapore.

Tax residency is established by being physically present or employed in Singapore for 183 days or more.

Tax relief cap of S$80,000 applies to total sum of CPF, SRS, WMCR, and parent reliefs.

GIRO 12-month interest-free monthly installment plan is available for all tax bill payments.

IRAS Filing & Verification Checklist

Income Tax Act (Cap. 134) & IRAS Personal Tax Guidelines

Form IR8A Employment Income Statement from Employer

Singpass Access for IRAS myTax Portal (mytax.iras.gov.sg)

GIRO Direct Debit Bank Account Authorisation Form

Step-by-Step IRAS Filing & Payment Workflow

Check Auto-Inclusion Scheme (AIS) Employment Data

Log into myTax Portal via Singpass to verify employer-submitted IR8A income figures.

Claim Eligible Personal Tax Reliefs (CPF, SRS, WMCR)

Enter eligible personal reliefs ensuring total relief stays under the S$80,000 cap.

Submit E-Filing Form B1 on myTax Portal

Submit individual income tax return online between March 1 and April 18.

Receive Notice of Assessment (NOA) Tax Bill

IRAS issues Notice of Assessment (NOA) detailing final tax payable from April onwards.

Pay Tax Bill via GIRO 12-Month Monthly Instalment

Settle tax payment via 12-month interest-free GIRO auto-deduction or PayNow.

Frequently Asked Questions (FAQ)

Singapore personal income tax rates for residents are progressive from 0% to 24%. The first S$20,000 of chargeable income is tax-free, while income above S$1,000,000 is taxed at the maximum 24% rate.

The maximum aggregate personal tax relief cap in Singapore is S$80,000 per Year of Assessment per individual.

Every dollar you contribute to your SRS account reduces your taxable income dollar-for-dollar, up to S$15,300/year for Singapore Citizens/PRs and S$35,700/year for foreigners.

No. Singapore does not levy any Capital Gains Tax on profits earned from selling stocks, cryptocurrencies, or real estate (provided it is investment gain and not trade income).

Non-residents are generally taxed at a flat rate of 24% on income earned in Singapore, except employment income which is taxed at a flat 15% or progressive resident rates (whichever yields higher tax).

The e-filing deadline for individual income tax returns on the IRAS myTax Portal is April 18 (or April 15 for paper filing).