Wednesday, 24 October 2007
Individual Income Tax (Salaried Employee)
This is the most dreaded thing by most people I guess where every year you have to pay a certain amount of your hard-earned money to the government. This is one aspect most people seldom take into consideration as their monthly expenses simply because it only occurs once a year. For Singaporean, you can easily compute your taxable income by using the spreadsheet provided by Inland Revenue Authority of Singapore (IRAS) to estimate your annual taxable income so you can set aside a sum of money for that month to your income tax. You can find more information for income tax for individual salaried employee and download the spreadsheet here.