Income Tax Filing
- a22162
- Jun 6
- 5 min read
Updated: Jun 14
Singapore Income Tax Filing Guide
Income tax filing in Singapore is an annual obligation for most individuals and is managed by the Inland Revenue Authority of Singapore (IRAS). Here's a breakdown of key information:
1. Who Needs to File Income Tax?
Taxable Income: Generally, individuals must file and pay tax if their annual income exceeds S$22,000 before deductions.
Self-Employed Individuals: Sole proprietors and partners must file if they have a net profit of more than S$6,000.
Notification from IRAS: If you receive a letter, form, or SMS from IRAS instructing you to file, you must do so, regardless of your income or whether your employer is under the Auto-Inclusion Scheme (AIS).
No-Filing Service (NFS): Many taxpayers are eligible for the NFS, meaning IRAS will automatically assess their tax based on pre-filled information (from employers on AIS, etc.). If you're on NFS, you'll be notified, and you may not need to file a return unless you need to make changes (e.g., claim new reliefs, declare other income).
Foreigners: Your tax residency status determines your tax implications.
Tax Resident: If you stay or work in Singapore for at least 183 days in the previous calendar year, or continuously for 3 consecutive years, you are generally considered a tax resident. Tax residents are taxed at progressive resident rates and can claim tax reliefs.
Non-Resident: If you stay or work in Singapore for less than 183 days in a calendar year, you are generally a non-resident for tax purposes. Your employment income is taxed at the higher of a flat 15% or the progressive resident tax rate. Director's fees and other income are generally taxed at 24%. Non-residents cannot claim personal reliefs.
2. When to File (Year of Assessment 2025 - for income earned in 2024):
Filing Period: Income tax filing for the Year of Assessment 2025 opened on March 1, 2025.
E-Filing Deadline: The deadline to e-File your Income Tax Return is April 18, 2025.
Paper Filing Deadline: If you are filing a paper return, the deadline was April 15, 2025.
Extension of Time: If you need more time, you may be granted an extension of up to 14 days by applying through myTax Portal.
3. How to File (E-Filing is Recommended):
Most individuals e-File their income tax returns through the myTax Portal on the IRAS website. Here's a general guide:
Step 1: Get a Singpass or Singpass Foreign User Account (SFA). Singpass is your digital ID to access government e-services. If you're a foreigner not eligible for Singpass, you can apply for an SFA.
Step 2: Prepare Required Documents.
Singpass/SFA.
Form IR8A (if your employer is NOT participating in the Auto-Inclusion Scheme).
Particulars of your dependants (for new relief claims).
Details of rental income from your property and other income, if any.
Business registration number/partnership tax reference number (for self-employed and partners).
Step 3: Log in to myTax Portal. Go to the IRAS website, log in using your Singpass or SFA, and select "Individuals" > "File Income Tax Return."
Step 4: Verify Pre-filled Information. IRAS pre-fills information from sources like employers (AIS), previous year's relief claims, and e-stamped tenancy records. Carefully verify that all pre-filled income, deductions, and reliefs are accurate.
Step 5: Declare Other Income Sources. If you have any income not pre-filled (e.g., rental income, freelance income), you must declare it in your tax return.
Step 6: Claim Deductions and Reliefs. Ensure you claim all eligible tax reliefs and deductions (e.g., CPF relief, earned income relief, spouse relief, parent relief, qualifying child relief, donations, employment expenses, business expenses). You can use IRAS's Personal Relief Checker and other tools to determine your eligibility.
Step 7: Review and Submit. After verifying and entering all necessary information, review your return thoroughly before submitting it. You will see an acknowledgement page upon successful submission.
Important Notes:
Auto-Inclusion Scheme (AIS): If your employer is part of AIS, they will submit your employment income information to IRAS directly. You generally do not need to declare this income.
Keeping Records: Maintain detailed records of your income, expenses, and supporting documents for at least five years.
Tax Rebate for YA 2025: For YA 2025, all tax resident individuals will automatically receive an Individual Income Tax rebate of 60% of tax payable, capped at S$200 per taxpayer.
Refer to the official Inland Revenue Authority of Singapore (IRAS) website (iras.gov.sg) for the most accurate and up-to-date information, guides, and services related to income tax filing in Singapore.
How Bestar can Help
Navigating income tax filing in Singapore can be complex, especially with constantly evolving regulations and various deductions and reliefs available. This is where professional help can be invaluable for both individuals and businesses. Here's how Bestar can assist with income tax filing in Singapore:
1. Ensuring Compliance and Avoiding Penalties:
Up-to-date Knowledge: Singapore's tax laws are subject to frequent changes. Tax professionals stay abreast of the latest regulations, ensuring your filing is fully compliant with the Inland Revenue Authority of Singapore (IRAS) requirements. This significantly reduces the risk of errors, omissions, and subsequent penalties or fines.
Accurate Documentation: We can help you organize and maintain meticulous records of your income, expenses, and other financial documents, which is crucial for accurate filing and in case of an IRAS audit.
Timely Submission: Bestar ensures that all required documents and returns are submitted on or before the deadlines, preventing late filing penalties.
2. Maximizing Tax Efficiency and Savings:
Identifying Deductions and Reliefs: Bestar has in-depth knowledge of all eligible tax reliefs, rebates, and deductions that apply to your specific situation (e.g., CPF contributions, personal reliefs, parent caregiving rebates, donations, etc.). We can help you identify and claim all applicable benefits, legally reducing your taxable income and overall tax liability.
Strategic Tax Planning: Beyond just filing, Bestar can provide proactive advice on optimizing your tax position for the current and future years. This might involve strategies for managing income from multiple sources, overseas earnings, or structuring remuneration packages for expatriate employees.
Understanding Tax Residency: We can help you determine your tax residency status, as tax treatments differ for residents and non-residents, ensuring you apply the correct rates and claim relevant benefits.
3. Saving Time and Reducing Stress:
Handling Complexities: For individuals with complex financial situations (e.g., multiple income streams, foreign income, investment income) or businesses, tax filing can be time-consuming and overwhelming. Bestar takes on this burden, allowing you to focus on your core activities or personal life.
Streamlined Process: We are familiar with the IRAS e-filing portal and processes, making the submission smooth and efficient.
Peace of Mind: Knowing that your taxes are handled by a qualified expert provides peace of mind, reducing stress and anxiety often associated with tax season.
4. Assistance with IRAS Queries and Audits:
Responding to Queries: If IRAS raises any queries about your tax filing, a professional can assist in preparing comprehensive and accurate replies.
Audit Support: In the event of a tax audit, Bestar can represent you and guide you through the process, ensuring all necessary documentation is provided and questions are addressed effectively.
When to Consider Professional Help:
While IRAS has made personal income tax filing relatively straightforward for many individuals through pre-filled information and the No-Filing Service, professional assistance becomes particularly beneficial if you:
Have complex income sources (e.g., self-employment income, rental income, foreign income, capital gains from non-exempt assets).
Are a business owner (sole proprietor, partnership, or company) with specific corporate tax obligations, GST filing, and tax incentive considerations.
Have recently moved to or from Singapore and need to understand your tax residency and obligations.
Are unsure about your eligibility for various tax reliefs and deductions.
Simply want to ensure accuracy and maximize your tax savings without the hassle of navigating the regulations yourself.
In summary, Bestar in Singapore offer expertise, save time, mitigate risks, and help optimize tax outcomes, making the income tax filing process more efficient and less daunting.
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