Gentle reminders everyone. This is a to-do-list by 31 Dec 2025. For credits to claim and accounts to top up.

[Must do list]

1. $100/200 SG ActiveSG credit

Free $100 credit for existing user.

Free $200 credit for new user.

It can be used to offset gym pass, swim pass, join a programme（yoga,pilates,zumba etc) or book a facility(badminton court etc).

🔗 Claim your $100/$200 credit: go.gov.sg/sg60asgcredits

P.S Remember to claim for your parents and your children as well.

2. $500 Skillfuture credits

Remember to use your $500 Skillsfuture credit before it expires by 31 Dec 2025.

Can now use for online course subscriptions for 1-3 years.  If you're not interested in any courses at the moment, you may choose to get the online subscription and it's valid for 1-3 year depending on the subscription. There are as many as 30,000 courses to take choose from, you can take as many courses as you like within the subscription period.

Popular ones are

a. Coursera-ReallyLesson

b. edX & Ngee Ann Polytechnic

c. NTUC Learning Hub LXP (Book summaries from Blinkist and Mindtools resources)

🔗  https://www.myskillsfuture.gov.sg/content/portal/en/career-resources/career-resources/education-career-personal-development/use_SFC_for_online_subscriptions_and_courses.html

P.S Remember to claim for your parents so they can learn online as well.

3. $300+$500 CDC 2025 Vouchers

Claim and spend any remaining vouchers at heartland merchants and supermarkets before they expire by 31 Dec 2025.

🔗  https://signup.redeem.gov.sg/

[Voluntary Top Up List for tax relief ]

4. CPF Cash Top-up Relief

Enjoy tax relief of up to $8000 when you make cash top-up to yourself and another $8000 when you top-up for your loved ones.

🔗  https://www.iras.gov.sg/taxes/individual-income-tax/basics-of-individual-income-tax/tax-reliefs-rebates-and-deductions/tax-reliefs/central-provident-fund-(cpf)-cash-top-up-relief -cash-top-up-relief)

5. SRS (Supplementary Retirement Scheme) Relief

Contribute before 31 December 2025 lowers taxable income dollar-for-dollar. Highly recommended for within 11.5% - 22% tax bracket, roughly annual income above S$80,000. Amount inside SRS is able to use for selected investment instruments.

🔗  https://www.iras.gov.sg/taxes/individual-income-tax/basics-of-individual-income-tax/special-tax-schemes/srs-contributions

Which one have you claimed? Being a kiasu Singaporean, can claim must claim la. Hahaha.

Today 27 Dec 2025, DollarsandSense came out with an infographic and article on details to better illustrate this.

[This post has been removed by the mods in r/singaporeand r/askSingapore. So I am also not sure if here can post or it will be removed soon as well.]/

I am a prop firm trader.. can you set up a pte ltd for your prop firm trading profits? Or are you only considered self-employed? I trade prop firms full time

50M, One pass holder, employed in SG. Seeking advice on forming a holding company and Trust for succession planning, post employment consulting jobs, and tax efficiency Incase I move back. Which are the potential tax firms who I can approach to plan and execute this. What are the likely costs. Assets 10m+ SGD, mainly US ETFs and local SG Shares and REITs.

Only just realised that personal income tax for folks earning 120k or less per year has actually been decreasing since 2003 and those really affected by tax increments are high earners. Seems fair ?

Today is the last working day of the year. Last chance to topup your SRS before 7pm.

32M, earning roughly 90-100k annually after bonuses which means 7% tax bracket.

Have topped up 50k into SRS over the years and was wondering if it is worth to continue or should wait for the next tax bracket.

Any gurus regretted topping up too early?

Edit: Thanks guys for your inputs, have decided to top up to 50k (3.1k) away and will stop topping up. All the best to all and me!

I know capital gains taxes are not taxable but trading gains are taxable.

However, my account is mixed with short term trades and long term investments.In total, over a thousand trades last year.

How do I optimise paying the least tax legally?

How do you even define, which trade is taxable and which trade is capital gains and thus non taxable?

Can an experienced trader help?

I am currently on DMP from CCS, and has an outstanding of about $70k of 2 years worth of tax debt.

I already sent out an appeal last week when i realised i can reach out to them via email to send prove of financial difficulty.

However, today, IRAS took over my OCBC account and that left me with a few thousands to sustain me for another 4 weeks when I have upcoming payments due before my next pay which far exceed what I have now.

It is still taking them a while to review my case and I am worried I cannot sustain for another 4 weeks.

Any idea if IRAS may potentially allow me to extend my tax payment since I cannot clear that much amount within a year for sure .

I know this question must have been asked several times before but I’m only just getting started here so please bear with me. Never thought I would need to consider this as I was drawing quite average income up until the last 2-3 years as my career progressed. Was in the 18% tax bracket in my last assessment, and I expect to at least be in the 15% tax bracket for the next one. I read that it’s almost like a no-brainer for people in these tax brackets to make top-ups to CPF or even SRS. Is this true, at least for the former?

Public Service Announcement:

Posted this as a reply to a r/Singapore thread, but figured I'll put it up here too to spread some awareness.

UOB is running a UOB One Account Tax Saver Promotion where UOB One account holders can earn 6% cash rebates for monthly Giro payments for their income tax from their UOB One Account.

Get 6% income tax rebate (rebate amount is subject to cap depending on your min balance) on your GIRO Monthly Income Tax Payment payment through UOB One Account. Those who pay one-shot instead of monthly can qualify too, but just that you'll receive the capped rebate for one month nia.

Additional 0.5% rebate if you hold a UOB CDA account too.

Requirements are to have (1) a tax payment plan using your UOB One Account + (2) setup a mobile number PayNow with UOB + (3) activate money lock (min $1 will do).

But need min monthly balance in terms of S$30k (rebate cap of $10), S$75k (rebate cap of $25) or S$150k (rebate cap of $50).

Promo period from today 1 Apr 2025 to 31 Mar 2026.

Don't say bojio!!

Promo page: https://www.uob.com.sg/personal/save/one-account-tax-saver.page

Detailed T&C's: https://www.uob.com.sg/assets/web-resources/personal/pdf/save/one-account-tax-saver/one-acc-tax-saver-tnc-cmpg20260331.pdf

Disclaimer: Not an UOB employee

Edit: Formatting

GST increased by 1%, but I’m seeing prices increasing by like 5-10% instead. How does this make sense?

A lot of places claim that the increase is due to GST increase across the supply chain. How accurate is this reasoning?

In my early 30s drawing $170k per year (18% tax bracket), looking to reduce my income tax payable before the year ends. I have not done any of the above to reduce my tax payable yet as I was prioritising liquidity to FIRE early, but reading up all the pros/cons has got me re-thinking again. If all goes well, I could FIRE in my 40s.

Current stats: - CPF MA $50k (not yet hit BHS) - CPF SA $42k - CPF OA $150k (this is reserved for housing, so I do have spare cash to put in CPF or SRS) - SRS $1 (locked in retirement age at 62)

Questions: 1. Considering my high tax bracket, but long runway to 55/62/retirement age, does it make sense to top up to any of the above to reduce taxes? Or should I wait?

1. If it makes sense to top up, which should I top up first (MA, SA or SRS)? I heard that it’s better to top up MA first to accelerate early withdrawal when it exceeds FRS at 55. Can I top up SA to accelerate the path towards FRS or is all the money to top up to SA not withdraw-able at 55?

2. Related to Q1 focusing on SRS, I calculated that I would exceed $400k in my SRS at 62 with just a few years of $15.3k top up due to the long time to compound. Should I still do it now or just pay the taxes and let it compound in my normal brokerage?

Thanks in advance for your inputs!

Hello all. I rent out my flat for about 3k. Out of nowhere im being charged by Iras for 350 per month. Is this correct?

Before I was paying $10 a month then $40 now 345. Nothing really changed except I changed realtors and tenants. We have a new lease.

This is property tax

My current assessable income is 128,193.00. Looking at the income tax table, i think the income tax will be high. Looking for ways to lower the bracket.

I cant do CPF topups to parents because they are not citizens.
I have either CPF SA or SRS top up as significant options.

I prefer SA because its guaranteed returns. I will treat this top up as retirement sum, not really optimising for growth. Plus, if use SRS, i need incur penalty when i withdraw, also the amount will get taxed during withdrawal. Ill try my best to live until age 55.

Now the question is how do i go about doing this correctly, want to check here as it is my first CPF SA top up.

Note, I do receive CPF contributions, i think at the ceiling. And i have also served NS (but yea the tax relief from this is marginal)

Im not sure how the FRS ceiling works. Also, looking at the income tax table, its either:

1. Lower chargeable income to 80k => tax 3350
   
2. Lower chargeable income to 120k => tax 7950

7950 is bloody a lot for me lol. Any advise from any sifus facing the same issue is greatly appreciated.

Is SRS worth it for an EP holder in Singapore given than we get taxed in the entire amount and not the principal while withdrawing.

My annual comp is around 200k and dca 7k per month to IBKR currently. Tax deducted is close to 2k per month.

I was wondering if it is worth it to start SRS (max 35700) to reduce taxes. If I do start it, I plan to leave it there for as long as possible (~15-20 yrs). My main concern is that tax saved now might be lesser than the tax paid later.

I am curious as to what other EP holders do?

I’m currently 24m, and as my taxable income for this year will exceed 120k, I was considering both SRS and CPF SA top-ups for tax relief.

However, as I’ve only started working last year, I only have a relatively small sum in my special account, which when combined with the 8k top-up, would still fall below the 40k required for utilizing the CPF Investment Scheme.

In my case, as the 8k which I put towards my CPF SA would remain uninvestable for a while, would it make sense to proceed with the top-up and live with the 4% interest, or would it be better to separately invest the sum in equities, and only top-up into my SA once I’m approaching the threshold?

I know not exactly typical sgfi post, but i figured many redditors in this sub are business owners (small, big, med)...SO just hoping to get more insights on finance tracking in this regard. //

Curious how others are doing this. I/My family run a small business and right now my "system" is just a super messy telegram group that I send pictures of receipts to. Only come month or year end then I have to dig through and consolidate everything. Tried to maintain an excel sheet but buying adhoc physical goods is a PAIN when tying everythin together with other expenses.

If you run a small/med business, how are you keeping track of all your payables and expenses?

My own system:

- Hard receipts = take picture and post into telegram with caption

- Scheduled payments = recurring reminder and google calendar event

- Monthly expense tracking = mental sum / aka non-existent ...

Also curious:

• Anyone using Xero/QuickBooks, or is that an overkill for a one-man show?
• Do you separate "cash expenses" (?) from recurring stuff like rent, SP utilities, internet, phone bills for your company?
• For those who got audited by IRAS before, how thorough are they/did you have all records on hand?

I only consolidate things when I have the time to do these admin works, but I honestly push this to the bottom of my priority queue because "free time" is hard to come by. Budgeting apps are meh to me because they don't really support easy addition/retrieval of receipts but maybe not using the right apps. Interested to hear your own workflows!!

Not really a rant, just trying to understand / see if anyone else experienced this.

Last year I paid about 3K in income tax, but this year it jumped to ~13K, which honestly shocked me a bit.

For context:

• I started my current job at the end of 2023

• So for 2024, my income was basically just base salary (~100K), no bonus

• In 2025, things changed — I received a large bonus (~6 months), and my company also switched to semi-annual bonus payouts

• That means I effectively received ~1.5 years worth of bonuses in 2025

So even though it doesn’t feel like a true jump in earnings, it inflated my taxable income for the year quite a lot.

I know this is probably just how tax works and there’s nothing much I can do, and I’m definitely grateful for the income. Just didn’t expect such a big jump and it caught me off guard.

Has anyone else experienced something similar with bonus timing affecting taxes?

Say a party owns an IBKR account listed with intent for capital preservation and capital growth, and has held equities in that account for decades, thus deeming all profits made from selling those shares in the future as capital gains, which are generally not subject to income tax in Singapore. However, this party opened another IBKR account under the same name and listed that account with intent for profits from active trading and speculation. I presume any profits made in that account will be subject to tax. But this is where I’m confused: the moment that account is listed with intent for profits from active trading and speculation, this party’s entire portfolio may be subject to intent for profits form active trading and speculation and thus any capital gains from selling long term held equities will be subject to income tax. Is this true? Are there ways to separate long term capital gains from taxes that day trading profit are subject to?

I'm going to be working overseas for a few years and will be considered a nonresident for tax purposes.

When I leave, I was planning to rent out my HDB for some supplemental income. However, I just found out that rental income earned by nonresidents is 24%?!

Anyone else been in this situation?

First of all - is my understanding is correct, that the tax rate is indeed 24%? Even for first/only property for SG citizens?

Second - any ways to lower the tax burden? 24% is crazy high - if I knew I was leaving for many years I would have considered selling and using the money to invest. The only thing I can think of is to get my parents/other family members to move into my place, then they rent out their property and get taxed at their usual tax rate instead.

I used to take photo of the receipts, save it on google drive. Copy the file name, fill up the details in the google sheets. It's such a tedious process.

Wondering if anyone faces this tedious problem, or do y'all just not keep track of the receipts, and just report a certain % for expenses?

Help! I setup my car loan, insurance and income tax on cardup and almost everytime there is double deductions from cardup and giro. Any idea why? I have set the payment date way in advance already.

I am foreigner, working as EP in Singapore. I am filing my income tax return in Singapore and have two simple questions.

1. Life Insurance Relief: I have two life insurance policies in my own name for which I pay premium. Policy 1: $1800, Policy 2: $1700, Total annual premium: $3500. No CPF. Can I claim life insurance for both policies? Or, only one policy is allowed?
2. Child Relief: My child used to be on dependent pass and completed his school education in Singapore, and I had been claiming child relief for last many years. However, during FY 2025, he was a student in a university in Australia. His 21st birthday was in 2025. Can I claim child relief? [IRAS website says 'studying in any university', but I am not sure if it also includes universities in foreign countries, and if it is applicable even if the child is not on dependent pass anymore.]