Tax Explainer: What's in a swinging single's tax bill?
Source: Freepik
Anne, a 25-year-old Singaporean, earned $40,000 from her job in 2024. She is single and made a cash top-up of $2,000 to her CPF retirement account in 2024.
She also incurred more than $2,000 supporting her non-working mother (aged 73), who lives with her sibling. Both Anne and her sibling agreed that Anne would claim $5,000, while her sibling would claim $4,000 for Parent Relief.
Curious to find out what Anne has to pay for her income tax bill in 2025? Just $32.
Let’s see the breakdown of Anne’s tax bill for Year of Assessment 2025:
| Total Income | $40,000 | |
| Less: Tax Reliefs Earned Income Relief CPF Cash Top-up Relief CPF Relief Parent Relief | $1,000 $2,000 $8,000 $5,000 | $16,000 |
| Chargeable Income | $24,000 | |
| Tax on the first $20,000 | $0 | |
| Tax on the next $4,000 at 2% | $80 | |
| Tax Payable (before rebates) | $80 | |
| Less: 60% Tax Rebate (capped at $200) | $48 | |
| Total Tax Payable | $32 ($80 - $48) |