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Old 09-09-2008, 05:04 PM
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Default How many people made 6-figure salaries last year?

I remember reading somewhere that there are about 70,000 people making $100,000 or more last year. Well, that figure is wrong, at least according to the latest annual report from IRAS.

As usual, I analysed the most important appendix in the IRAS report and found that 154,714 assessed taxpayers took home a 6-figure salary last year.

Yes, exactly 153,779 resident taxpayers and 935 non-resident taxpayers made $100k or more. Together, they form 18% of the (assessed) taxpayer population.

In this group, each individual made an average of $237k last year.

The average net tax assessed for this group is about $25k, or more than $2,000 a month.

Are you paying $2,000 in income tax a month?

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