|
Target Additional Tax Revenue
|
S$
|
|
billion
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Current:
|
13.45
|
Scenario:
|
|
⇒
|
|
(Shortfall) / Excess
|
|
Gini
The Income Tax Gini coefficient measures the extent to which the burden of personal income tax paid by individual taxpayers deviates from a perfectly equal distribution. A lower income tax Gini coefficient (closer to 0) is the most progressive where most of the personal income tax is paid by the highest earners. A high income tax Gini (closer to 1) is less progressive where the burden of income tax falls more equally amongst all taxpayers, irrespective of their income.
|
|
Gini
The Income Tax Gini coefficient measures the extent to which the burden of personal income tax paid by individual taxpayers deviates from a perfectly equal distribution. A lower income tax Gini coefficient (closer to 0) is the most progressive where most of the personal income tax is paid by the highest earners. A high income tax Gini (closer to 1) is less progressive where the burden of income tax falls more equally amongst all taxpayers, irrespective of their income.
|
|
|
Change the marginal tax rates at each band BELOW:
|
|
First $ of Chargeable Income
|
Current Marginal Tax rate
(Residents)
|
Flexed
Marginal
Tax rate
|
Current Gross Tax Payable
|
Flexed Gross Tax Payable
|
|
|
|
|
|
|
|
|
|
|
S$
|
%
|
%
|
S$
|
S$
|
|
20,000
|
0.00
|
|
0
|
0.00
|
|
30,000
|
2.00
|
|
200
|
|
|
40,000
|
3.50
|
|
550
|
|
|
80,000
|
7.00
|
|
3,350
|
|
|
120,000
|
11.50
|
|
7,950
|
|
|
160,000
|
15.00
|
|
13,950
|
|
|
200,000
|
18.00
|
|
21,150
|
|
|
|
|
|
|
|
|
|
240,000
|
19.00
|
|
28,750
|
|
Current:
|
|
by top 10%
|
|
280,000
|
19.50
|
|
36,550
|
|
|
by bottom 20%
|
|
320,000
|
20.00
|
|
44,550
|
|
Scenario:
|
|
by top 10%
|
|
320,000+
|
22.00
|
|
|
|
|
by bottom 20%
|
| |
|
Facts:
|
Only 59.4% of the
Singapore resident population aged 20+ pays income tax
|
|
|
|
|
|
|
|
Only 46.8% of the Singapore resident population pays income tax
|
