About NovaTax SG
Understand the tax rules, assumptions, and methodology behind this estimation tool.
What is NovaTax SG?
NovaTax SG is a free, modern Singapore tax estimation tool designed for learners, professionals, and business owners. It helps you quickly estimate your personal or corporate income tax liability using simplified calculations based on official IRAS (Inland Revenue Authority of Singapore) guidance.
The tool is purely front-end — no data is sent to any server. All calculations happen in your browser, and your inputs
are saved locally using localStorage so you can pick up where you left off.
This is not a substitute for professional tax advice. Always consult IRAS or a qualified tax professional for your actual tax filing.
Personal Income Tax
Progressive Tax Rates for Residents (YA 2024 onwards)
Singapore tax residents are taxed on a progressive scale. The first $20,000 of chargeable income is not taxed. Rates range from 2% to 24% for income above $1,000,000.
| Chargeable Income ($) | Tax Rate (%) | Gross Tax Payable ($) |
|---|---|---|
| First 20,000 | 0 | 0 |
| Next 10,000 | 2 | 200 |
| First 30,000 | — | 200 |
| Next 10,000 | 3.5 | 350 |
| First 40,000 | — | 550 |
| Next 40,000 | 7 | 2,800 |
| First 80,000 | — | 3,350 |
| Next 40,000 | 11.5 | 4,600 |
| First 120,000 | — | 7,950 |
| Next 40,000 | 15 | 6,000 |
| First 160,000 | — | 13,950 |
| Next 40,000 | 18 | 7,200 |
| First 200,000 | — | 21,150 |
| Next 40,000 | 19 | 7,600 |
| First 240,000 | — | 28,750 |
| Next 40,000 | 19.5 | 7,800 |
| First 280,000 | — | 36,550 |
| Next 40,000 | 20 | 8,000 |
| First 320,000 | — | 44,550 |
| Next 180,000 | 22 | 39,600 |
| First 500,000 | — | 84,150 |
| Next 500,000 | 23 | 115,000 |
| First 1,000,000 | — | 199,150 |
| Above 1,000,000 | 24 | — |
Non-Resident Tax
Non-resident individuals are generally taxed at a flat rate:
- Employment income: 15% flat rate or the progressive resident rate, whichever is higher.
- Other income (rental, royalties, etc.): 22% flat rate.
- Personal reliefs and deductions are generally not available to non-residents.
Tax Residency
Your tax residency status affects how your income is taxed. In Singapore, you are a tax resident if you:
- Are a Singapore Citizen or Permanent Resident who normally resides in Singapore, or
- Are a foreigner who has stayed or worked in Singapore for 183 days or more in the calendar year before the Year of Assessment.
If you stayed in Singapore for fewer than 183 days, you are generally considered a non-resident for tax purposes. Special rules may apply for short-term employment or specific treaty arrangements.
Year of Assessment (YA)
The Year of Assessment (YA) is the year in which your income is assessed to tax. It is the year following the year in which the income was earned.
| Income Earned In | Year of Assessment | Filing Deadline |
|---|---|---|
| 2023 | YA 2024 | 18 Apr 2024 |
| 2024 | YA 2025 | 18 Apr 2025 |
| 2025 | YA 2026 | 18 Apr 2026 |
Corporate Income Tax
Flat Rate
Singapore levies a flat corporate income tax rate of 17% on chargeable income. This applies to all companies, both local and foreign, on income earned in or remitted to Singapore.
Start-Up Tax Exemption (SUTE)
Qualifying new companies in their first 3 consecutive YAs can enjoy:
| Chargeable Income | Exemption Rate | Max Exempt |
|---|---|---|
| First $100,000 | 75% | $75,000 |
| Next $100,000 | 50% | $50,000 |
| Maximum total exemption | $125,000 | |
Conditions: company incorporated in Singapore, no more than 20 shareholders (all individuals, or at least one individual holding 10%+ shares). Investment holding and property development companies are excluded.
Partial Tax Exemption (PTE)
All companies (that do not claim SUTE) can enjoy:
| Chargeable Income | Exemption Rate | Max Exempt |
|---|---|---|
| First $10,000 | 75% | $7,500 |
| Next $190,000 | 50% | $95,000 |
| Maximum total exemption | $102,500 | |
CIT Rebate
IRAS may grant a Corporate Income Tax rebate for specific Years of Assessment. This rebate is applied on the tax payable (after exemptions).
| Year of Assessment | Rebate Rate | Cap |
|---|---|---|
| YA 2024 | 50% | $40,000 |
| YA 2025 | 50% | $40,000 |
| YA 2026 | 40% | $30,000 |
Supported Features
| Feature | Personal Tax | Corporate Tax |
|---|---|---|
| Progressive tax brackets | Yes | N/A (flat 17%) |
| Resident / non-resident mode | Yes | N/A |
| Year of Assessment selector | YA 2024–2026 | YA 2024–2026 |
| Earned income relief | Yes (by age) | N/A |
| CPF, spouse, child, parent reliefs | Yes | N/A |
| Donation 250% deduction | Yes | N/A |
| Start-Up Tax Exemption | N/A | Yes |
| Partial Tax Exemption | N/A | Yes |
| CIT Rebate | N/A | Yes |
| Bracket-by-bracket breakdown | Yes | Yes (step-by-step) |
| Bar chart visualisation | Yes | Yes |
| Effective tax rate | Yes | Yes |
| Print-friendly output | Yes | Yes |
| Dark / light theme | Yes | Yes |
| localStorage persistence | Yes | Yes |
| Real-time recalculation | Yes | Yes |
| Sample data loader | Yes | Yes |
| Responsive mobile layout | Yes | Yes |
Frequently Asked Questions
Disclaimer: NovaTax SG is an independent estimation tool and is not affiliated with IRAS. Tax rules and rates may change. Always refer to www.iras.gov.sg for the latest official information.