Tax Explainer: What's in a sole breadwinner's tax bill?
Source: Freepik
30-year old Singaporean Mark is the sole breadwinner of his household. He earned $62,000 from his job in 2024 and supports his homemaker wife who cares for their two young children. Additionally, he has a remaining balance of $2,500 in this Parenthood Tax Rebate account.
Mark also supports his retired parents who live separately from him.
Curious to find out the amount of income tax Mark has to pay in 2025? $0.
Let’s see the breakdown of Mark’s tax bill for Year of Assessment 2025:
| Total Income | $62,000 | |
| Less Reliefs Earned Income Relief Parent Relief Spouse Relief Qualifying Child Relief NSman Relief CPF Relief | $1,000 $11,000 $2,000 $8,000 $3,000 $12,400 | $37,400 |
| Chargeable Income | $24,600 | |
| Tax on the first $20,000 | $0.00 | |
| Tax on the next $4,600 at 2% | $92.00 | |
| Tax Payable (before rebates) | $92.00 | |
| Less: 60% Tax Rebate (capped at $200) Parenthood Tax Rebate | $55.20 $36.80 | |
| Total Tax Payable | $0 ($92 - $55.20 - $36.80) |