Annual Return Documents
2018-02-21
GST Registered Company
2018-03-02
Annual Return Documents
2018-02-21
GST Registered Company
2018-03-02

Taxable and Non-Taxable Income


Taxable and Non-Taxable Income

All income earned in or derived from Singapore is chargeable to income tax.

Generally, overseas income received in Singapore on or after 1 Jan 2004 is not taxable, except in some circumstances.

Income earned may come from different sources such as:

  • Employment
  • Trade, Business, Profession or Vocation
  • Property or Investments
  • Other Sources (e.g. annuities, royalties, winnings or estate or trust income)

 

Income from Employment

  • Salary, Bonus, Director’s Fee, Commission and Others
  • Gains from the Exercise of Stock Options
  • Income Received from Overseas
  • Pension
  • Retrenchment and Retirement Benefits

 

Income from Trade, Business, Profession or Vocation

  • Income Received as a Self-Employed Person or Sole-Proprietor (commission agents, freelancers, taxi drivers, hawkers, etc.)
  • Income Received through a Partnership
  • Income Received from Overseas
  • Income Received in the Form of Virtual Currencies

 

Income Received in the Form of Government Grants:

  • PIC Bonus(PDF, 0.99MB)
  • Special Employment Credit
  • Wage Credit Payout
  • Jobs Support Scheme

Only Wage Credit Payout will be auto-included in the tax return for self-employed taxpayers.

Income from Property or Investments

  • Dividends
  • Gains from Sale of Property, Shares & Financial Instruments
  • Interest
  • Rent from Property

 

Other Sources of Income

  • Annuity (recurring annual payments)
  • Charge (alimony, maintenance payments…)
  • Estate / Trust Income
  • National Service Housing, Medical and Education Award
  • Royalty
  • Winnings (Toto, 4D…)
  • Withdrawal from Supplementary Retirement Scheme (SRS)

 

 

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Singapore FOZL Group Pte. Ltd.
Accounting and Corporate Regulatory Authority of Singapore licensed corporate advisory firm.
Singapore Company Registration, Annual Return, Accounting & Tax
Trademark Registration, Corporate Advisory, Serviced Offices.
6 Raffles Quay,#14-02, #14-06, Singapore 048580