Singapore Individual Income Tax Calculator for 2012
IRAS (Inland Revenue Autority of Singapore) has revised the income tax rate for 2012. Now lower income groups can enjoy lesser tax rate compare to year 2007 to 2011.
To accurately calculate the amount you need to pay for 2012, you can download the excel sheet calculator from IRAS (somehow it didn’t working when I tested it on 20th Dec 2011). Hence, I updated my tax calculator website to calculate my 2012 income tax, feel free to use it and give me your feedback.
Tax rates for resident individuals
From YA 2012 onwardsNew!
| Chargeable Income | Rate (%) | Gross Tax Payable ($) |
|---|---|---|
| First $20,000 Next $10,000 |
0 2 |
0 200 |
| First $30,000 Next $10,000 |
- 3.50 |
200 350 |
| First $40,000 Next $40,000 |
- 7 |
550 2 800 |
| First $80,000 Next $40,000 |
- 11.5 |
3 350 4 600 |
| First $120,000 Next $ 40,000 |
- 15 |
7 950 6 000 |
| First $160,000 Next $ 40,000 |
- 17 |
13 950 6 800 |
| First $200,000 Next $120,000 |
- 18 |
20 750 21 600 |
| First $320,000 Above $320,000 |
- 20 |
42 350 |
For YA 2007 to 2011
| Chargeable Income | Rate (%) | Gross Tax Payable ($) |
|---|---|---|
| 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 |
Source: http://www.iras.gov.sg/irasHome/page04.aspx?id=1190
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