Income Tax Calculator Singapore
Find out how much your salary is after tax
Salary rate
Withholding
Salary S$700
Central Provident Fund (CPF) - S$120
Total tax - S$120
Net pay * S$580
Marginal tax rate 39.6%
Average tax rate 17.1%
17.1%Total tax
82.9%
Net payThe Taxberg
S$580
Net pay
S$120
Tax the employer pays
S$120
Tax you pay
Total tax paid
$240
Did you know your employer also pays tax on your salary? It costs the employer S$120 to pay you S$700. In other words, every time you spend $10 of your hard-earned money, $3.43 goes to the government.
Real tax rate
29.3%
So, with you and the employer both paying tax, what used to be a 17.1% tax rate now rises to 29.3%, meaning your real tax rate is actually 12.2% higher than what it seemed at first.
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Summary
If you make S$8,400 a year living in Singapore, you will be taxed S$1,440. That means that your net pay will be S$6,960 per year, or S$580 per month. Your average tax rate is 17.1% and your marginal tax rate is 39.6%. This marginal tax rate means that your immediate additional income will be taxed at this rate. For instance, an increase of $100 in your salary will be taxed $39.6, hence, your net pay will only increase by $60.4.
Bonus ExampleA $1,000 bonus will generate an extra $604 of net incomes. A $5,000 bonus will generate an extra $3,020 of net incomes.
NOTE* Withholding is calculated based on the Singapore tables of SG, income tax. For simplification purposes some variables (such as marital status and others) have been assumed. This document does not represent legal authority and shall be used for approximation purposes only.