Singapore's personal income tax rates are progressive, meaning the rate increases as income increases. For the Year of Assessment (YA) 2024, the rates are as follows:
| Chargeable Income (SGD) | Tax Rate (%) | Tax Payable (SGD) |
|---|---|---|
| First $20,000 | 0 | 0 |
| Next $10,000 | 2 | $200 |
| First $30,000 | - | $200 |
| Next $10,000 | 3.5 | $350 |
| First $40,000 | - | $550 |
| Next $40,000 | 7 | $2,800 |
| First $80,000 | - | $3,350 |
| Next $40,000 | 11.5 | $4,600 |
| First $120,000 | - | $7,950 |
| Next $40,000 | 15 | $6,000 |
| First $160,000 | - | $13,950 |
| Next $40,000 | 18 | $7,200 |
| First $200,000 | - | $21,150 |
| Next $40,000 | 19 | $7,600 |
| First $240,000 | - | $28,750 |
| Next $40,000 | 19.5 | $7,800 |
| First $280,000 | - | $36,550 |
| Next $40,000 | 20 | $8,000 |
| First $320,000 | - | $44,550 |
| Above $320,000 | 22 | - |
For incomes exceeding SGD 500,000 and SGD 1,000,000, the government has introduced additional rates:
These rates apply to Singapore tax residents. Non-residents are typically taxed at a flat rate of 15% for employment income or the resident rates, whichever is higher, and 22% for other income types.