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Self-employed tax and MediSave calculator

SGD
Income tax and MediSave for the year
$6,344
Effective rate 10.6 %
  • Compulsory MediSave8 %−$4,800
  • Earned income relief-$1,000
  • Relief for MediSave paid last year-$4,800
  • Chargeable income$54,200
  • Income tax−$1,544
  • Left after tax and MediSave$53,656

An estimate under the rules for the chosen year, for typical cases. It is not tax advice: check the result with the tax office or an adviser before you file.

How it is calculated

Your net trade income is what is left after business expenses. If you are a citizen or PR and it is above $6,000, you must pay MediSave. The rate depends on your age and income: from 4 % just above $6,000, rising to 8 %, 9 %, 10 % or 10.5 % from $18,000.

MediSave is charged on net trade income up to a cap. Under the table used for YA 2026 the cap is $88,800, so a person below 35 pays at most $7,104. Under the table used for YA 2025 the cap was $81,600.

For income tax, we subtract the earned income relief of $1,000 ($6,000 from 55, $8,000 from 60), relief for your MediSave and $4,000 for each child you claim. The rest is taxed at resident rates from 0 % to 24 %. For YA 2025 residents also got a 60 % rebate capped at $200.

  • You are a tax resident and your income is the same every year.
  • Net trade income is your revenue minus allowable business expenses, as reported to IRAS.
  • Compulsory MediSave applies to citizens and PRs with net trade income above $6,000. For YA 2025 the 2024 MediSave table is used and for YA 2026 the 2025 table, as in the IRAS examples.
  • Tax relief is given for the MediSave you paid in the previous year. We assume it was the MediSave on the same income, so for YA 2026 it is worked out under the 2024 table.
  • Compulsory MediSave is relieved in full from YA 2026. For YA 2025 the relief is capped at 37 % of net trade income and $37,740.
  • Voluntary CPF contributions, platform worker contributions, other reliefs and business losses are not included.
  • MediSave uses your age on 1 January of the year the income was earned. Earned income relief uses your age on 31 December of that year.
Questions

How much tax and MediSave do I pay on $60,000 of net trade income?

Below age 35, MediSave is 8 %, which is $4,800. After $5,800 of reliefs, chargeable income is $54,200 and tax for YA 2026 is $1,544. You pay $6,344 in total.

When do I pay MediSave as a self-employed person?

CPF Board sends a notice after IRAS assesses your income. You must pay in full within 30 days of the notice, or set up a GIRO plan.

Do I need to pay MediSave if I am a foreigner?

No. Compulsory MediSave applies only to Singapore citizens and permanent residents. Foreigners pay only income tax.

Do I file a different form as a freelancer?

You file the same income tax return (Form B) by 18 April online. You report your revenue, expenses and net trade income in it.

Sources

Now keep it on track Set the result as a budget in Spendee and see each month how much is left.

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