5 Essential Tax-Saving Tips for Singapore Tax 2026

At a Glance

Filing Deadline: Must be completed by April 18, 2026 (for e-Filing).

Key Strategy: Foreigners can claim up to SGD 35,700 in tax relief through SRS contributions.

Important Note: The total personal income tax relief cap is SGD 80,000, so plan your allocations wisely.

One of the most overwhelming moments when you first move to Singapore is the tax filing season. If you are used to the Korean system where the company handles year-end settlements automatically, the prospect of logging into the IRAS (Inland Revenue Authority of Singapore) website to manually enter figures can feel daunting.

Tax filing for the Year of Assessment (YA) 2026 covers the income you earned throughout 2025. If you don't prepare in advance, you might be surprised by a larger-than-expected tax bill. For Korean parents and professionals living in Singapore, we have summarized the most practical tips to help you navigate this season smoothly.

1. 2026 Filing Schedule and Methods

The first date you should mark on your calendar is April 18. Singapore's income tax filing deadline occurs every April, but the exact date varies slightly depending on the method. All income earned from January 1 to December 31, 2025, is subject to this filing.

e-Filing: This must be completed via the myTax Portal by April 18, 2026. Most residents use this method.
Paper Filing: If you are submitting physical forms, the deadline is slightly earlier, on April 15, 2026.
AIS (Auto-Inclusion Scheme): If your employer is part of the AIS, your salary information is automatically uploaded to IRAS. However, you must still log in to verify and manually update your tax reliefs. Don't assume everything is correct just because it's automated!
NFS (No-Filing Service): Even if you receive a notification stating you don't need to file, you should still log in and make amendments if you have new relief claims to reduce your tax liability.

2. Tax Residency and Rates (The 183-Day Rule)

The most important number in Singapore tax law is "183." If you stayed or worked in Singapore for 183 days or more in 2025, you are classified as a "Tax Resident." This allows you to benefit from progressive tax rates (0% to 24%) and various tax reliefs.

Income Bracket (SGD)	Tax Rate (%)	Remarks
First SGD 20,000	0%	No tax payable
SGD 40,000 – 80,000	7% – 11.5%	Average professional bracket
Above SGD 320,000	22%	High-income bracket
Above SGD 1,000,000	24%	Highest marginal rate

If you are a non-resident (stayed less than 183 days), you are generally taxed at a flat rate of 15% or the resident rate, whichever is higher, and you cannot claim personal tax reliefs. If you moved to Singapore mid-year, be sure to calculate your days carefully.

3. Legal Tax-Saving Strategies for Foreigners

The most effective way to reduce your tax in Singapore is to maximize your "Reliefs." For high earners, utilizing these items can result in significant savings.

SRS (Supplementary Retirement Scheme): This is highly recommended for foreigners. Any amount contributed by December 31, 2025, is fully tax-deductible. Foreigners can contribute up to SGD 35,700 annually, which can effectively lower your tax bracket.
Course Fee Relief: If you took seminars, certification courses, or degree programs related to your current employment, you can claim up to SGD 5,500. Keep your receipts!
Donation Relief: Donations made to an Institution of a Public Character (IPC) qualify for a 250% tax deduction. For example, a SGD 1,000 donation reduces your taxable income by SGD 2,500.
Child and Spouse Relief: Residents can claim a basic relief of SGD 4,000 per child. For dual-income couples, it is wise to calculate which parent should claim the relief to maximize savings.

4. Essential Checkpoints for Korean Residents

South Korea and Singapore have a Double Taxation Agreement (DTA). Understanding this can prevent you from being taxed twice on the same income.

Avoiding Double Taxation: Generally, employment income earned in Singapore is taxed in Singapore. When reporting foreign income to the Korean National Tax Service, you can claim a foreign tax credit for the taxes paid in Singapore. Keep your Notice of Assessment (NOA) as proof.
IR21 (Tax Clearance): If you plan to change jobs or leave Singapore in 2026, your employer must seek tax clearance. Your final month's salary may be withheld until your taxes are settled, so plan your cash flow accordingly.
Singpass Update: All filings are done via Singpass. If you have forgotten your password or changed your contact details, ensure you update them before the filing season begins.

Things to Remember

My final tip is the "Power of Records." While IRAS may not ask for documents at the time of filing, they can request proof through random audits later. It is safe to keep digital copies of course fee receipts and donation certificates for at least five years.

Also, remember that only SRS contributions made by the end of 2025 will count toward your 2026 filing. Opening an account and topping it up before the year ends is the most certain way to save on taxes! If you have any questions, feel free to leave a comment.