Advertisement

Anonymous

30 Nov 2022

∙

Assessable Income Computation

Does assessable income include Employee and Employer CPF contribution? What about the CPF Relief? Does that include both relief from Employee and Employer contribution?

TIA!

1

Discussion (1)

What are your thoughts?

Learn how to style your text

SH

02 Dec 2022

Assessable income (AI) includes all forms of income from trade, business, profession or vocation, employment, as well as rental income that is taxable.

Mandatory Employee and employer CPF contributions are non-taxable, ie. Not included in AI.

AI can be found on your tax bill (or Notice of Assessment).

Reply

Save

Write your thoughts

Related Posts

For Self-Employed, may I ask if the Banks will look at which of the following in assessing Mortgage Loan/Credit Limit? 1) Assessable Income (Trade Income Minus Expenses) 2) Chargeable Income?

If applying for BTO & taking a HDB loan (1st-timers), how will a self employed person's annual income be assessed for EHG and HDB loan? Will the full amount of the declared annual income be assessed?

Is income from stock investing (e.g. capital gains or dividends) included in the computation of household income to buy an HDB, EC or private condo?

For BTO Income Ceiling Eligibility (< $14,000) and EHG Housing Grant (< $9,000), are bonuses (13th month and performance) assessed as part of income?

Hi, if my income has increased during the 2nd income assessment closer to keys collection, will HDB increase my eligible loan amount?

Related Posts

For Self-Employed, may I ask if the Banks will look at which of the following in assessing Mortgage Loan/Credit Limit? 1) Assessable Income (Trade Income Minus Expenses) 2) Chargeable Income?

If applying for BTO & taking a HDB loan (1st-timers), how will a self employed person's annual income be assessed for EHG and HDB loan? Will the full amount of the declared annual income be assessed?

Is income from stock investing (e.g. capital gains or dividends) included in the computation of household income to buy an HDB, EC or private condo?

For BTO Income Ceiling Eligibility (< $14,000) and EHG Housing Grant (< $9,000), are bonuses (13th month and performance) assessed as part of income?

Hi, if my income has increased during the 2nd income assessment closer to keys collection, will HDB increase my eligible loan amount?

Advertisement