Singapore Freelancer Tax Calculator 2026

Self-employed persons (SEPs) are not required to contribute to the Ordinary Account or Special Account. However, SEPs who earn net trade income above SGD 6,000 per year must make mandatory Medisave contributions. The rate increases in tiers from 4% for income up to SGD 10,000 to 7.5% for income above SGD 40,000.

Net trade income (NTI) is your gross trade income minus all allowable business expenses. Allowable expenses include equipment, software subscriptions, professional development costs, home office expenses (subject to conditions), and fees paid to subcontractors. NTI is the figure IRAS taxes and CPF Board uses to calculate your Medisave contribution.

CPF Board assesses your Medisave contribution after IRAS has processed your income tax return. You will receive a notice of assessment from CPF Board, typically a few months after your income tax filing deadline. Payment is due within 30 days of the notice. The contribution is based on your net trade income for the previous calendar year.

Yes. Freelancers can contribute to SRS (up to SGD 15,300 for citizens and PRs) to reduce their chargeable income dollar for dollar. Voluntary Medisave top-ups above the mandatory amount are also tax-deductible, subject to the Basic Healthcare Sum cap. CPF Cash Top-Up to your SA is available to freelancers and qualifies for up to SGD 8,000 in tax relief.