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-   -   How many people made 6-figure salaries last year? (https://forums.salary.sg/income-jobs/664-how-many-people-made-6-figure-salaries-last-year.html)

Salary.sg 09-09-2008 05:04 PM

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?

http://www.salary.sg/2008/how-many-p...ies-last-year/

BT-- 10-09-2008 09:29 AM

2625
 
Are you referring to Business Times Weekend? If so, then maybe you remember wrongly. BT reported that 70,000 people were in the above-$150k bracket, which is correct based on the same IRAS appendix.

ExOfficio-- 10-09-2008 01:42 PM

2627
 
153,779 resident taxpayers and 935 non-resident taxpayers made $100k or more.

153,779 like very few. Singapore residents seem to earn more...maybe underdeclaring?

Dude-- 10-09-2008 03:55 PM

2629
 
If you earn more the $100k annually, I think you would easily qualify for PR-ship. Resident taxpayers include PR. That could account for the low the number of non-resident taxpayers.

Ben-- 11-09-2008 01:08 PM

2634
 
I'm puzzled why only 820+k people are paying taxes....

This includes foreigners right?

Low income-- 11-09-2008 03:28 PM

2641
 
To Ben: low-income earners are not even assessed for income tax. There are many low-income earners.

Wealth Journey-- 23-09-2008 04:41 PM

2748
 
Income tax only discovers the one who earns six figures working..

there are also those getting six figures from investments that are not taxable.


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