Singapore Taxable and Non-Taxable Benefits Guide
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Singapore Taxable Benefits
- Accommodation: Fully taxable till YA2019
- Furniture & Fittings: Partially taxable
- Company car: Taxable based on cost and usage
- Rental: Interest deductible, royalties taxable
- Premium: Taxable
Non-Taxable Benefits
- Profits from operation of Singapore ships
- Interest from approved banks and finance companies
- Singapore dividends, CPF withdrawals, Government pensions
- Various distributions and annuities
- Overseas income of individuals
Allowable Deductions
- Interest, Rent, Repairs, Salaries, CPF, Medical expenses
- Professional fees, Foreign exchange loss
Special Deductions
- Patenting cost, R&D, Renovations, Trade fair participation
- Royalty payments, PHV & taxi deductions
Capital Allowances
- Depreciation rules and allowances for equipment
- Replacement of equipment under S.21 election
- Related party sale and lease considerations