¾ÅÉ«ÊÓÆµ

Menu
¾ÅÉ«ÊÓÆµ
Search
Magazine
Search

Monthly Take home salary in Singapore

ASHOKPRIYADHARSHANV
Dear folks,

I got a direct Job offer from a Singapore based MNC. Salary they have offered is 7300$ per month. What will be my monthly take home. Is that monthly take home, would be enough for me to run a life and as a single person...

Plus how taxation will affect my monthly salary? can someone please throw a light on the above points? Need your valuable suggestions dear friends...

See also

Income tax in SingaporeTaxes for expats in SingaporeCompany Hold Salary For Tax Government PurposesIncome TaxWhen does SingPass gets disabled upon exiting SG?
Meaaat

@ASHOKPRIYADHARSHANV annum Income tax rate under S$500,000 is at 22%

beppi
That IS your take home pay!
Taxes are due AFTER the tax year ends (you are obliged to submit a declaration then), so you better put aside some money for that.
S$7000 is above the average household income (i.e. a family of 3). So, unless your lifestyle and spending habits are far above the locals, you should be fine!
ASHOKPRIYADHARSHANV

@beppi Thank you very much. A straight forward answer, which is what I have expected... Thank you so so much...

ASHOKPRIYADHARSHANV

@beppi Plus one more query, is there any tax savings options available for expats , while submitting the year end declaration?

Shekhz

@ASHOKPRIYADHARSHANV donations to Govt registered and recognised charities, some give you 2.5x rebate on taxation.

ASHOKPRIYADHARSHANV

@Shekhz Thank you very much for your answer...

beppi

@beppi Plus one more query, is there any tax savings options available for expats , while submitting the year end declaration?

- @ASHOKPRIYADHARSHANV
Very little. Read about it on the IRAS webpage!
ASHOKPRIYADHARSHANV

@beppi Thank you... I will check in IRAS website...

ShBhardwaj

@beppi I understand for expats there won't be any CPF deductions... right? In that case , how much tax rates are applicable towards year end. I mean , do we have tax slabs or is it flat tax rates? please confirm.

beppi

@ShBhardwaj Whether you need to contribute to CPF depends on your personal situation and visa.

A table of income tax rates, and explanations on who is taxed how, is available on the IRAS webpage.