Monthly Take home salary in Singapore

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ASHOKPRIYADHARSHANV New member

Member since 18 August 2022

ASHOKPRIYADHARSHANVNew member18 August 2022 08:26:02

Dear folks,

I got a direct Job offer from a Singapore based MNC. Salary they have offered is 7300$ per month. What will be my monthly take home. Is that monthly take home, would be enough for me to run a life and as a single person...

Plus how taxation will affect my monthly salary? can someone please throw a light on the above points? Need your valuable suggestions dear friends...

Meaaat Member

Member since 18 June 2021

MeaaatMember18 August 2022 08:52:36

@ASHOKPRIYADHARSHANV annum Income tax rate under S$500,000 is at 22%

beppi Germany - Singapore Expert

Member since 08 August 2010

Germany & Singapore Expert

beppiGermany - Singapore Expert18 August 2022 17:17:29

15350

That IS your take home pay!

Taxes are due AFTER the tax year ends (you are obliged to submit a declaration then), so you better put aside some money for that.

S$7000 is above the average household income (i.e. a family of 3). So, unless your lifestyle and spending habits are far above the locals, you should be fine!

ASHOKPRIYADHARSHANV New member

Member since 18 August 2022

ASHOKPRIYADHARSHANVNew member18 August 2022 17:29:14

@beppi Thank you very much. A straight forward answer, which is what I have expected... Thank you so so much...

ASHOKPRIYADHARSHANV New member

Member since 18 August 2022

ASHOKPRIYADHARSHANVNew member18 August 2022 17:30:52

@beppi Plus one more query, is there any tax savings options available for expats , while submitting the year end declaration?

Shekhz Singapore Expert

Member since 31 March 2021

ShekhzSingapore Expert19 August 2022 04:18:55

964

@ASHOKPRIYADHARSHANV donations to Govt registered and recognised charities, some give you 2.5x rebate on taxation.

ASHOKPRIYADHARSHANV New member

Member since 18 August 2022

ASHOKPRIYADHARSHANVNew member19 August 2022 06:07:38

@Shekhz Thank you very much for your answer...

beppi Germany - Singapore Expert

Member since 08 August 2010

Germany & Singapore Expert

beppiGermany - Singapore Expert19 August 2022 07:00:08

15350

@beppi Plus one more query, is there any tax savings options available for expats , while submitting the year end declaration?
- @ASHOKPRIYADHARSHANV

Very little. Read about it on the IRAS webpage!

ASHOKPRIYADHARSHANV New member

Member since 18 August 2022

ASHOKPRIYADHARSHANVNew member19 August 2022 07:15:23

@beppi Thank you... I will check in IRAS website...

ShBhardwaj Member

Member since 16 September 2022

ShBhardwajMember10 October 2022 10:53:12

#10

@beppi I understand for expats there won't be any CPF deductions... right? In that case , how much tax rates are applicable towards year end. I mean , do we have tax slabs or is it flat tax rates? please confirm.

beppi Germany - Singapore Expert

Member since 08 August 2010

Germany & Singapore Expert

beppiGermany - Singapore Expert10 October 2022 14:18:59

#11

15350

@ShBhardwaj Whether you need to contribute to CPF depends on your personal situation and visa.

A table of income tax rates, and explanations on who is taxed how, is available on the IRAS webpage.

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