Tax Rates For Resident Individuals

For YA 2007 onwards

Chargeable Income Rate (%) Gross Tax Payable ($)
First $20,000
Next $10,000		 0
3.50		 0
350
First $30,000
Next $10,000		 -
5.50		 350
550
First $40,000
Next $40,000		 -
8.50		 900
3 400
First $80,000
Next $80,000		 -
14		 4 300
11 200
First $160,000
Next $160,000		 -
17		 15 500
27 200
First $320,000
Above $320,000		 -
20		 42 700

For YA 2008, a personal income tax rebate of 20%, up to a maximum of $2,000 is granted.
For YA 2009, a personal income tax rebate of 20%, up to a maximum of $2,000 is granted.
Tax rates for non-resident individuals

Employment income
Your employment income is taxed at 15% or resident rate, whichever gives rise to a higher tax amount.

Director’s fees, consultation fees & all other income
The director’s fees, consultation fees and all other income that you received will be taxed at 20% from YA 2005 onwards.

For YA 2003 and YA 2004, director’s fees, consultation fees and all other income are taxed at 22%.

Source: www.iras.gov.sg

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