I'm in my mid-20, and didn't declare that I am freelancing. My strategy is to contribute up to the $20k limit of CPF OA to get the 3.5% ASAP by putting in a lot monthly, and empty it for housing. Any advice?

Thanks to each and everyone of you here. I didn’t know know that’s considered tax evasion, will definitely file for taxes next year. With that, how would hdb calculate the amount of grants when I apply for bto?

The amount of subsidies and loan quantum you can take depends on your declared income for freelancer. If you declared $0 income, CPF or banks cannot loan you any money because you earn $0 (as declared). Because these are institutions that lend money, they will need proof of income hence, the Tax statement for freelancers or for regular salaried employee is just payslips For regular salaried people, it is all automated.

Thank you for the informative video! Really appreciate it. Another question, do I have to register as a sole proprietor in order to declare myself as a freelancer?

I'm not sure about this but i highly recommend that u do. Adds professionalism to your image. for example, your will have a business bank account with cheques paid to your business name, like ' Lim Trading/Services' vs to your name. With registration, u can get UEN number for .com.sg websites and corpass for government services to fulfil your legal and compliance matters.