What Is Taxable, What Is Not - IRAS

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What is taxable, what is not Generally, income earned in or derived from Singapore is chargeable to income tax, while overseas income received in Singapore is not taxable, except in some circumstances.

Income from employment

Employment income

Types of employment income and benefits-in-kind (to be computed by your employer)

• Salary, bonus, director's fee, commission and others
• Gains from the exercise of stock options
• Income received from overseas
• Pension
• Retirement benefits
• Retrenchment benefits

Income from trade, business, profession or vocation

Self-employed, partnership or trade, business, profession, vocation income

Including gig work and freelance income

Income received from overseas

Some overseas income received in Singapore must be reported in your tax return

Income received in the form of Government Grants

Find out if these payouts will be auto-included in your tax return

• COVID-19 related payouts

Income received in the form of virtual currencies

Businesses that accept digital tokens are subject to normal Income Tax rules

Income from property or investments and other sources

Rent from property

Learn how to report rental income and claim rental expenses

Dividends

Taxable dividends must be reported in your tax return

Interest

Taxable interests must be reported in your tax return

Gains from sale of property, shares and financial instruments

Taxable gains must be reported in your tax return

Income from other sources

Annuity (recurring annual payments)

Check the taxability of annuity

Charge (alimony and maintenance payments)

Check the taxability of alimony and maintenance payments in Singapore

Estate/Trust income

Check the taxability of estate/trust income received from an estate under administration or a trust

National Service Housing, Medical and Education (NS HOME) Award and LifeSG credits

Check the taxability of the awards

Royalty

Royalties are taxable though tax concessions are available

Winnings (Toto, 4D…)

Winnings received from betting or lottery are not taxable

Withdrawals from Supplementary Retirement Scheme (SRS)

Different tax rates apply depending on the year of your withdrawal