{{ $t('salary.net_income') }}
{{incomeNet | toSGD}}
Calculation details
| Salary | {{salary | toSGD}} |
| CPF Withhold | - {{cpfWithholdAmount | toSGD}} |
| Income Tax | - {{incomeTaxAmount | toSGD}} |
| Net Income | {{incomeNet | toSGD}} |
If you are a salaried employee and are a Singapore Citizen (SC) or Singapore permanent resident (SPR), every month, when paying out your salary, your employer is required to withhold the portion of your pay that needs to go into your CPF accounts. That portion will be paid into your CPF accounts as your employee's contribution.
What is CPF
The Central Provident Fund (CPF) is set up to play one of the most important fuctions in Singapore's comprehensive social security system.
This is around 5% to 20% depending on Age and SPR status, and is capped on your monthly salary, currently capped at S$6,800. This means that the first S$6,800 of your monthly salary is subject to CPF contributions. Any amount above that won't have a portion deducted for CPF.
The CPF monthly salary cap will be raised from S$6,800 to S$8,000 by 2026, the increase will take place in below:
- CPF monthly salary ceiling will be raised to S$7,400 from 1st January 2025.
- CPF monthly salary ceiling will be raised to S$8,000 from 1st January 2026.
Because the Age is personal privacy, so we always use 20% as the CPF withhold rate.
Your CPF withhold is {{cpfWithholdAmount | toSGD}}.
| Age of employee | CPF withhold by employee |
|---|---|
| Up to 55 years old | 20% |
| 55 to 60 years old | 13% |
| 60 to 65 years old | 7.5% |
| Above 65 years old | 5% |
Income tax rates depend on an individual's tax residency status. You will be treated as a tax resident for a particular Year of Assessment (YA) if you are a:
- Singapore Citizen (SC) or Singapore Permanent Resident (SPR) who resides in Singapore except for temporary absences; or
- Foreigner who has stayed / worked in Singapore (excludes director of a company) for 183 days or more in the year preceding the YA.
Otherwise, you will be treated as a non-resident of Singapore for tax purposes.
Singapore's personal income tax rates for resident taxpayers are progressive. This means higher income earners pay a proportionately higher tax, with the current highest personal income tax rate at 22%.
Your final Income Tax is {{incomeTaxAmount | toSGD}}.
| Annual Salary | Tax Rate |
|---|---|
| 0 - 20,000 | 0% |
| 20,001 - 30,000 | 2% |
| 30,001 - 40,000 | 3.5% |
| 40,001 - 80,000 | 7% |
| 80,001 - 120,000 | 11.5% |
| 120,001 - 160,000 | 15% |
| 160,001 - 200,000 | 18% |
| 200,001 - 240,000 | 19% |
| 240,001 - 280,000 | 19.5% |
| 280,001 - 320,000 | 20% |
| 320,001 - 500,000 | 22% |
| 500,001 - 1,000,000 | 23% |
| 1,000,001 + | 24% |