Proposed A PIT Rebate of 60% of tax payable will be granted to all tax resident individuals for YA 2025. The rebate will be capped at $200 per taxpayer.
Current Tax resident CPF members may, subject to conditions, enjoy CPF Cash Top-Up Relief for cash top-ups made to their own or their eligible loved ones’:
Proposed Cash top-ups made from 1 January 2026 to the MA of a MMSS-eligible CPF member that attract the MMSS matching grant will not entitle the giver to the CPF Cash Top-Up Relief from YA 2027.
This also ensures parity with the current tax treatment for the MRSS, where cash top-ups to the RA or SA of an MRSS-eligible CPF member that attract the MRSS matching grant will not entitle the giver to the CPF Cash Top-Up Relief.
A giver may continue to enjoy tax relief of up to $16,000 per year for eligible CPF cash top-ups that do not attract the MMSS or MRSS matching grant. The maximum amount of CPF Cash Top-Up Relief is $8,000 per year for cash top-ups to the giver’s own SA, RA or MA, and another $8,000 per year for cash top-ups to such accounts of the giver’s loved ones.
Current Non-resident professionals are subject to WHT at a rate of 15% on gross income from the profession; or they may elect to be taxed at 24% on net income. As a concession, income derived by non-resident arbitrators from arbitration work carried out in Singapore is subject to WHT at a rate of 10%.
The concession is scheduled to lapse after 31 December 2027.
Proposed To ensure parity in the treatment of income of non-resident professionals, the concession for non- resident arbitrators will be allowed to lapse after 31 December 2027.
Current Non-resident professionals are subject to WHT at a rate of 15% on gross income from the profession; or they may elect to be taxed at 24% on net income. As a concession, income derived by non-resident mediators from mediation work carried out in Singapore is subject to WHT at a rate of 10%.
The concession is scheduled to lapse after 31 December 2027.
Proposed To ensure parity in the treatment of income of non-resident professionals, the concession for non-resident mediators will be allowed to lapse after 31 December 2027.
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Tax Experts
Sivakumar Saravan Senior Partner & Head of Tax [email protected]
Liew Kin Meng Director, Tax [email protected]
Goh Wai Gang Associate Director, Tax [email protected]
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