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Topic Review (Newest First)
23-09-2008 04:41 PM
Wealth Journey--

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

there are also those getting six figures from investments that are not taxable.
11-09-2008 03:28 PM
Low income--

To Ben: low-income earners are not even assessed for income tax. There are many low-income earners.
11-09-2008 01:08 PM

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

This includes foreigners right?
10-09-2008 03:55 PM

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.
10-09-2008 01:42 PM

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?
10-09-2008 09:29 AM

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.
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?

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