Singapore Income Tax 2026: Rates, Brackets, and Take-Home Pay
How Singapore income tax actually works in 2026 — the progressive rates from 0% to 24%, the generous personal reliefs, no capital gains tax, no dividend tax, and worked take-home pay examples showing why Singapore remains one of the lowest-taxed developed economies.
By FreeFinCalc Editorial · Updated April 10, 2026 · Singapore 2025-26 data
Singapore has one of the lowest personal income tax rates among developed economies, with a progressive system ranging from 0% on the first $20,000 to 24% on income above $1,000,000. There is no capital gains tax, no tax on dividends (most dividends are tax-exempt under the one-tier corporate tax system), no estate duty (abolished in 2008), and no tax on foreign-sourced income not remitted to Singapore. Combined with generous personal reliefs (Earned Income Relief, CPF contributions, SRS top-ups, NSman relief, working mother reliefs, etc.), the effective tax rate for most working Singaporeans is remarkably low — typically 5-12% for incomes between $50,000 and $150,000. The GST (Goods and Services Tax) was raised to 9% from January 2024.
Singapore Resident Tax Rates 2026 (Year of Assessment 2027)
Personal income tax for Singapore tax residents. Non-residents are taxed at a flat 22% (or progressive rates, whichever is higher) on employment income, and 24% on director fees and other income.
| Chargeable income | Tax rate | Tax on bracket | Cumulative tax |
|---|---|---|---|
| First $20,000 | 0% | $0 | $0 |
| $20,001 - $30,000 | 2% | $200 | $200 |
| $30,001 - $40,000 | 3.5% | $350 | $550 |
| $40,001 - $80,000 | 7% | $2,800 | $3,350 |
| $80,001 - $120,000 | 11.5% | $4,600 | $7,950 |
| $120,001 - $160,000 | 15% | $6,000 | $13,950 |
| $160,001 - $200,000 | 18% | $7,200 | $21,150 |
| $200,001 - $240,000 | 19% | $7,600 | $28,750 |
| $240,001 - $280,000 | 19.5% | $7,800 | $36,550 |
| $280,001 - $320,000 | 20% | $8,000 | $44,550 |
| $320,001 - $500,000 | 22% | $39,600 | $84,150 |
| $500,001 - $1,000,000 | 23% | $115,000 | $199,150 |
| Above $1,000,000 | 24% | - | - |
Take-Home Pay Examples (2026)
Approximate annual take-home pay for a Singapore tax resident, single, no dependants, claiming standard reliefs (Earned Income Relief $1,000 and CPF contribution relief). CPF employee contribution (20%) is deducted before income tax calculation.
| Annual gross | CPF employee (20%) | Taxable income (approx) | Income tax | Take-home after CPF+tax |
|---|---|---|---|---|
| $50,000 | $10,000 | $39,000 | ~$460 | $39,540 |
| $80,000 | $16,000 | $63,000 | ~$2,165 | $61,835 |
| $100,000 | $19,500 | $79,500 | ~$3,315 | $77,185 |
| $120,000 | $19,500 | $99,500 | ~$5,560 | $94,940 |
| $150,000 | $19,500 | $129,500 | ~$9,375 | $121,125 |
| $200,000 | $19,500 | $179,500 | ~$17,665 | $162,835 |
Key Tax Reliefs for Working Singaporeans
Singapore offers numerous personal income tax reliefs that reduce your taxable income. The most impactful for most workers: 1) CPF contributions are automatically deducted from taxable income (up to $19,500 mandatory employee contribution on a capped wage). 2) Earned Income Relief: $1,000 for those under 55, $6,000 for 55-59, $8,000 for 60+. 3) SRS Contribution Relief: up to $15,300 for citizens/PRs, dollar-for-dollar tax deduction. 4) Course Fee Relief: up to $5,500 for approved courses. 5) NSman Relief: $3,000-$5,000 for active and key NSmen. 6) Working Mother Child Relief: 15-25% of earned income per qualifying child. 7) CPF Top-Up Relief: up to $8,000 per year for cash top-ups to your own SA, plus $8,000 for family members. The total personal relief cap is $80,000.
No Capital Gains Tax: The Singapore Advantage
Singapore does not impose capital gains tax on investment profits. Gains from selling shares, property (beyond Seller Stamp Duty period), cryptocurrency, and other investments are completely tax-free. This is one of the biggest advantages of being a Singapore tax resident and a major reason the country attracts global wealth. The exceptions: 1) Trading gains may be taxed as income if IRAS considers you to be carrying on a trade (frequent buying and selling, short holding periods, large volumes). 2) Seller Stamp Duty (SSD) applies to property sold within 3 years of purchase (12%/8%/4% for years 1/2/3). 3) Additional Buyer Stamp Duty (ABSD) applies to property purchases (currently 20% for citizens buying second property, 30% for third+, 60% for foreigners).
GST at 9%: What It Means for Your Budget
The Goods and Services Tax (GST) was raised from 8% to 9% on January 1, 2024 — the second of a two-step increase from 7%. GST applies to most goods and services consumed in Singapore. Key exemptions: residential property sales and rental, financial services, and exported goods. To offset the impact on lower-income households, the government provides GST Vouchers (cash, MediSave, U-Save) and the Assurance Package (AP) — eligible HDB households receive up to $2,250 over 5 years. The effective GST burden is roughly 4-5% of total spending for most middle-income households after accounting for exemptions and government offsets.
Frequently Asked Questions
What is the income tax rate in Singapore 2026?+
Singapore uses a progressive tax system for residents: 0% on the first $20,000, then rising through bands of 2%, 3.5%, 7%, 11.5%, 15%, 18%, 19%, 19.5%, 20%, 22%, 23%, to a top rate of 24% on income above $1,000,000. After personal reliefs (CPF, Earned Income, SRS, etc.), most working Singaporeans earning $50,000-$150,000 pay an effective tax rate of about 3-8%. This is dramatically lower than comparable developed countries.
Is there capital gains tax in Singapore?+
No. Singapore does not impose capital gains tax. Profits from selling investments (shares, ETFs, property beyond the SSD period, cryptocurrency, gold, etc.) are completely tax-free for individuals. The only exceptions are if IRAS classifies your trading activity as a business (very frequent trading, short holding periods), in which case the gains are taxed as business income. Property-specific taxes (Seller Stamp Duty within 3 years, Additional Buyer Stamp Duty) exist but are not technically capital gains taxes.
How much tax do I pay on $100,000 in Singapore?+
On a $100,000 gross annual salary with standard reliefs (CPF contribution of about $19,500 deducted from taxable income, Earned Income Relief of $1,000), your chargeable income is approximately $79,500. The income tax on $79,500 is about $3,315. Your take-home pay after CPF (20%) and income tax is approximately $77,185 per year or $6,432 per month. The effective tax rate is only about 3.3% of gross income — one of the lowest in the developed world.
When is the Singapore tax filing deadline?+
The deadline for filing individual income tax returns is April 15 each year (for the previous calendar year of assessment). E-filing via myTax Portal extends the deadline to April 18. Penalties for late filing: a $200 fine, increasing to $1,000 if still not filed, plus possible court summons. Most employed Singaporeans with a single employer and no other income sources may be eligible for No-Filing Service (NFS), where IRAS auto-assesses their tax based on employer-submitted data — no filing required.
What is the SRS tax benefit?+
The Supplementary Retirement Scheme (SRS) allows Singapore citizens and PRs to contribute up to $15,300 per year (foreigners $35,700) and deduct the full amount from taxable income. For someone in the 15% marginal bracket, a $15,300 SRS contribution saves $2,295 in income tax. When withdrawn at or after age 62 (the statutory retirement age), only 50% of the withdrawal is taxable, effectively halving the tax rate. SRS money can be invested in stocks, bonds, ETFs, unit trusts, and fixed deposits while inside the account.
Do I pay tax on dividends in Singapore?+
Generally no. Most Singapore company dividends are tax-exempt under the one-tier corporate tax system — the company already paid 17% corporate tax on profits, and dividends are not taxed again at the individual level. Foreign dividends remitted to Singapore by individuals are also generally tax-exempt. The rare exceptions: some older pre-2008 companies may pay dividends under the imputation system where a tax credit is given. For all practical purposes, dividend income is tax-free for Singapore residents.
How does the GST Voucher work?+
The GST Voucher scheme provides cash, MediSave, and U-Save rebates to lower and middle-income Singaporeans to offset the GST increase. Eligibility is based on income and property ownership. Cash vouchers of up to $500-$700 per year go to adult Singaporeans with assessable income of $34,000 or below and living in properties with annual value up to $21,000. MediSave top-ups of $150-$450 go to Singaporeans aged 65+ with annual value up to $21,000. U-Save rebates of up to $950/year go to HDB households for utilities.
Is Singapore tax-friendly for expats?+
Very. Singapore has no capital gains tax, no inheritance tax, no tax on most foreign-sourced income, low personal income tax rates (top rate 24%), and tax treaties with over 90 countries. Non-residents pay a flat 22% on employment income (or progressive rates if higher). The Not Ordinarily Resident (NOR) scheme allows eligible expats to apportion their Singapore employment income if they travel frequently, reducing their taxable amount. Combined with political stability, rule of law, and excellent infrastructure, Singapore consistently ranks among the top 3 most tax-friendly countries for high-income professionals and entrepreneurs.
Sources & Disclaimer
Singapore income tax rates: IRAS Individual Income Tax Rates page. Personal reliefs: IRAS Tax Reliefs page. Capital gains treatment: IRAS Income Tax Treatment of Gains page. GST: IRAS GST page. SRS: MOF Supplementary Retirement Scheme page. CPF contribution limits: CPF Board. This article is for educational purposes only and is not personalised tax advice.