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Old 22-03-2015, 11:48 AM
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Originally Posted by Unregistered View Post
Gross Monthly Income From Work refers to income earned from employment.

For employees, it refers to the gross monthly wages or salaries before deduction of employee CPF contributions and personal income tax. It comprises basic wages, overtime pay, commissions, tips, other allowances and one-twelfth of annual bonuses.

For self-employed persons, gross monthly income refers to the average monthly profits from their business, trade or profession (i.e. total receipts less business expenses incurred) before deduction of income tax.

Yes. I added all in for the computation.
Hmm.. no wonder the salaries mentioned here are so high. When I talk about monthly salary I usually refer to all the components you have mentioned excluding the annual bonus.

A better indicator is your annual salary package, the one in your IR8A.
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