Examples on how tax-on-tax is computed
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1 Examples on how tax-on-tax is computed INLAND REVENUE AUTHORITY OF SINGAPORE Click on the following examples on how tax-on-tax is computed: Example 1: Tax fully borne by employer (Year of Assessment 2015 with personal tax rebate) Example 2: Change in employer during the year and tax fully borne by both employers (Year of Assessment 2015 with personal tax rebate) Example 3: Change in employer during the year and tax borne by one of the employers (Year of Assessment 2015 with personal tax rebate) Example 4: Tax fully borne by employer (Year of Assessment 2015 with personal tax rebate & change in marginal tax rate) Example 5: Tax partially borne by employer (Year of Assessment 2015 with personal tax rebate) Example 6: Tax fully borne by employer (Year of Assessment 2016) Example 7: Change in employer during the year and tax fully borne by both employers (Year of Assessment 2016) Example 8: Change in employer during the year and tax borne by one of the employers (Year of Assessment 2016)
2 Example 1: Tax fully borne by employer (Year of Assessment 2015 with personal tax rebate) Year of Assessment 2015) The employee was employed by Company A from 1 Jan 2014 to 31 Dec His income tax for Year of Assessment (YA) 2015 is fully borne by Company A: Total salary from Company A: 220,000 Total personal reliefs: 7,000 Tax Allowance Computation (YA 2015) Salary from Company A 220,000 Notional chargeable income 213,000 Tax on first 200,000 20, Tax on next 18% 2, , Less: 50% personal tax rebate capped at 1,000 (1,000.00) Notional tax payable 22, Tax-on-tax on remuneration: 22, x [0.18/(1-0.18)] 4, Tax allowance 26, Actual Tax Computation (YA 2015) Salary from Company A 220, Tax allowance 26, Total income 246, Less: Personal reliefs (7,000.00) Chargeable income 239, Tax on first 200,000 20, Tax on next 18% 7, , Less: 50% personal tax rebate capped at 1,000 (1,000.00) Net tax payable 26,939.02
3 Example 2: Change in employer during the year and tax fully borne by both employers (Year of Assessment 2015 with personal tax rebate) The employee was employed by Company A from 1 Jan 2014 to 30 Jun 2014 and Company B from 1 Jul 2014 to 31 Dec His income tax for Year of Assessment (YA) 2015 is fully borne by both companies. Total salary from Company A (1 Jan 2014 to 30 Jun 2014): 100,000 Total salary from Company B (1 Jul 2014 to 31 Dec 2014): 120,000 Total personal reliefs: 7,000 The salaries are added together and the tax to be paid by each company is apportioned based on the salary earned from the respective company. Where tax clearance had been sought previously by Company A, adjustments will be made to the tax liability of Company A. The adjustment may result in an additional tax to be borne by Company A. Tax Allowance Computation (YA 2015) Salary from Company A 100,000 Salary from Company B 120,000 Total income 220,000 Notional chargeable income 213,000 Tax on first 200,000 20, Tax on next 18% 2, , Less: 50% personal tax rebate capped at 1,000 (1,000.00) Notional tax payable 22, Tax borne by Company A: (100,000/220,000) x 22, , Tax-on-tax on remuneration (Company A): 10, x [0.18/(1-0.18)] 2, Tax allowance (Company A) 12, (A) Tax borne by Company B: (120,000/220,000) x 22, , Tax-on-tax on remuneration (Company B): 12, x [0.18/(1-0.18)] 2, Tax allowance (Company B) 14, (B) Total tax allowance (A+B) 26,939.02
4 Actual Tax Computation (YA 2015) Salary from Company A 100, Tax allowance (Company A) 12, Salary from Company B 120, Tax allowance (Company B) 14, Total income 246, Chargeable income 239, Tax on first 200,000 20, Tax on next 18% 7, , Less: 50% personal tax rebate capped at 1,000 (1,000.00) Net tax payable 26,939.02
5 Example 3: Change in employer during the year and tax borne by one of the employers (Year of Assessment 2015 with personal tax rebate) The employee was employed by Company A from 1 Jan 2014 to 30 Jun 2014 and Company B from 1 Jul 2014 to 31 Dec His income tax for Year of Assessment (YA) 2015 is borne by only Company A. Total salary from Company A (1 Jan 2014 to 30 Jun 2014): 100,000 Total salary from Company B (1 Jul 2014 to 31 Dec 2014): 120,000 Total personal reliefs: 7,000 Tax Allowance Computation (YA 2015) Salary from Company A 100,000 Salary from Company B 120,000 Total income 220,000 Notional chargeable income 213,000 Tax on first 200,000 20, Tax on next 18% 2, , Less: 50% personal tax rebate capped at 1,000 (1,000.00) Notional tax payable 22, Tax borne by Company A: (100,000/220,000) x 22, , Tax-on-tax on remuneration (Company A): 10, x [0.18/(1-0.18)] 2, Tax allowance (Company A) 12, Tax borne by employee: (120,000/220,000) x 22, , ,294.10
6 Actual Tax Computation (YA 2015) Salary from Company A 100, Tax allowance (Company A) 12, Salary from Company B 120, Total income 232, Chargeable income 225, Tax on first 200,000 20, Tax on next 18% 4, , Less: 50% personal tax rebate capped at 1,000 (1,000.00) Net tax payable 24,294.10
7 Example 4: Tax fully borne by employer (Year of Assessment 2015 with personal tax rebate & change in marginal tax rate) The employee was employed by Company A from 1 Jan 2014 to 31 Dec His income tax for Year of Assessment (YA) 2015 is fully borne by Company A: Total salary from Company A: 174,900 Total personal reliefs: 15,000 Tax Allowance Computation (YA 2015) Salary from Company A 174,900 Less: Personal reliefs (15,000) Notional chargeable income 159,900 Tax on first 120,000 7, Tax on next 15% 5, Notional tax payable before personal tax rebate 13, Less: 50% personal tax rebate capped at 1,000 (1,000.00) Notional tax payable after personal tax rebate 12, (A) Tax-on-tax on remuneration - As there is a change in marginal tax rate from 15% (for first 160,000) to 17% (for next 40,000), the notional tax payable is therefore broken down into: 100 x 15% (100 is derived from 160, ,900) ,835 x 17% (12,835 is derived from 12, ) 2, , (B) 2, x [0.17/(1-0.17)] (C) Tax allowance (A+B+C) 15,581.93
8 Actual Tax Computation (YA 2015) Salary from Company A 174, Tax allowance 15, Total income 190, Less: Personal reliefs (15,000) Chargeable income 175, Tax on first 160,000 13, Tax on next 17% 2, Net tax payable before personal tax rebate 16, Less: 50% personal tax rebate capped at 1,000 (1,000.00) Net tax payable after personal tax rebate 15,581.93
9 Example 5: Tax partially borne by employer (Year of Assessment 2015 with personal tax rebate) The employee was employed by Company A from 1 Jan 2014 to 31 Dec His income tax on education allowance of 20,000 is borne by Company A for Year of Assessment (YA) 2015: Education allowance: 20,000 Salary: 38,000 Total personal reliefs: 4,000 Tax Allowance Computation (YA 2015) Salary 38,000 Education allowance 20,000 Total income 58,000 Less: Personal reliefs (4,000) Notional chargeable income 54,000 Tax on first 40, Tax on next 7% Notional tax payable before personal tax rebate 1, Less: 50% personal tax rebate capped at 1,000 (765.00) Notional tax payable after personal tax rebate Tax borne by Company A on education allowance: (20,000/58,000) x (A) Tax-on-tax on education allowance: x [0.07 x (1 0.5) / 1 {0.07 x (1-0.5)}] 9.57 (B) Tax allowance (A+B) Tax borne by employee: (38,000/58,000) x
10 Actual Tax Computation (YA 2015) Salary 38, Education allowance 20, Tax allowance Total income 58, Less: Personal reliefs (4,000) Chargeable income 54, Tax on first 40, Tax on next 7% Net tax payable before personal tax rebate 1, Less: 50% personal tax rebate capped at 1,000 (774.57) Net tax payable after personal tax rebate
11 Example 6: Tax fully borne by employer (Year of Assessment 2016) The employee was employed by Company A from 1 Jan 2015 to 31 Dec His income tax for Year of Assessment (YA) 2016 is fully borne by Company A: Total salary from Company A: 220,000 Total personal reliefs: 7,000 Tax Allowance Computation (YA 2016) Salary from Company A 220,000 Notional chargeable income 213,000 Tax on first 200,000 20, Tax on next 18% 2, Notional tax payable 23, Tax-on-tax on remuneration: 23, x [0.18/(1-0.18)] 5, Tax allowance 28, Actual Tax Computation (YA 2016) Salary from Company A 220, Tax allowance 28, Total income 248, Chargeable income 241, Tax on first 200,000 20, Tax on next 18% 7, Net tax payable 28,158.54
12 Example 7: Change in employer during the year and tax fully borne by both employers (Year of Assessment 2016) The employee was employed by Company A from 1 Jan 2015 to 30 Jun 2015 and Company B from 1 Jul 2015 to 31 Dec His income tax for Year of Assessment (YA) 2016 is fully borne by both companies. Total salary from Company A (1 Jan 2015 to 30 Jun 2015): 100,000 Total salary from Company B (1 Jul 2015 to 31 Dec 2015): 120,000 Total personal reliefs: 7,000 The salaries are added together and the tax to be paid by each company is apportioned based on the salary earned from the respective company. Where tax clearance had been sought previously by Company A, adjustments will be made to the tax liability of Company A. The adjustment may result in an additional tax to be borne by Company A. Tax Allowance Computation (YA 2016) Salary from Company A 100,000 Salary from Company B 120,000 Total income 220,000 Notional chargeable income 213,000 Tax on first 200,000 20, Tax on next 18% 2, Notional tax payable 23, Tax borne by Company A: (100,000/220,000) x 23, , Tax-on-tax on remuneration (Company A): 10, x [0.18/(1-0.18)] 2, Tax allowance (Company A) 12, (A) Tax borne by Company B: (120,000/220,000) x 23, , Tax-on-tax on remuneration (Company B): 12, x [0.18/(1-0.18)] 2, Tax allowance (Company B) 15, (B) Total tax allowance (A+B) 28,158.54
13 Actual Tax Computation (YA 2016) Salary from Company A 100, Tax allowance (Company A) 12, Salary from Company B 120, Tax allowance (Company B) 15, Total income 248, Chargeable income 241, Tax on first 200,000 20, Tax on next 18% 7, Net tax payable 28,158.54
14 Example 8: Change in employer during the year and tax borne by one of the employers (Year of Assessment 2016) The employee was employed by Company A from 1 Jan 2015 to 30 Jun 2015 and Company B from 1 Jul 2015 to 31 Dec His income tax for Year of Assessment (YA) 2016 is borne by only Company A. Total salary from Company A (1 Jan 2015 to 30 Jun 2015): 100,000 Total salary from Company B (1 Jul 2015 to 31 Dec 2015): 120,000 Total personal reliefs: 7,000 Tax Allowance Computation (YA 2016) Salary from Company A 100,000 Salary from Company B 120,000 Total income 220,000 Notional chargeable income 213,000 Tax on first 200,000 20, Tax on next 18% 2, Notional tax payable 23, Tax borne by Company A: (100,000/220,000) x 23, , Tax-on-tax on remuneration (Company A): 10, x [0.18/(1-0.18)] 2, Tax allowance (Company A) 12, Tax borne by employee: (120,000/220,000) x 23, , ,393.88
15 Actual Tax Computation (YA 2016) Salary from Company A 100, Tax allowance (Company A) 12, Salary from Company B 120, Total income 232, Chargeable income 225, Tax on first 200,000 20, Tax on next 18% 4, Net tax payable 25,393.88
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