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Deductions, Reliefs & Rebates

Your chargeable income is your total income minus any deductions and reliefs. You can also utilise tax rebates to reduce your taxes.

Business-Related Deductions

Allowable Business Expenses

You can deduct any expenses that are incurred solely for the purposes of generating income for your business. Items such as rent, wages paid to employees and expenses on stationery and supplies are all considered "allowable business expenses".

Capital Allowances

You can claim capital allowances on plant and machinery that you have purchased for your business.
See: Claim Capital Allowances

Unutilised Losses And Capital Allowances

Losses and capital allowance can be used to offset your total chargeable income. Any part of the losses or capital allowance not fully used to offset income in the financial year is termed as "unutilised".

  • You can also carry forward unutilised losses and capital allowances to offset income made in the next financial year.
  • You can also carry back unutilised losses and capital allowances of up to S$100,000 in the current year to offset the income made in the preceding year.

Personal Donations, Reliefs & Rebates

  • As your trade income forms part of your personal income, you can also use personal reliefs and donations to reduce your taxes.
  • You can claim deductions for donations made to certain charitable organisations.
    See: Donations
  • You can claim tax reliefs. There are various types of tax reliefs such as course fees, child, wife/handicapped spouse, etc.
    See: Tax reliefs
  • You can claim tax rebates such as the Parenthood Tax Rebate.

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