Clear records.
Better prepared.

Business income is part of the personal return

IRAS explains that self-employed individuals report business income as part of their total personal income in Form B/B1. Sole proprietors and partners have different reporting responsibilities.

Prepare the business figures and statement appropriate to your activity and revenue. Review tax adjustments with your professional. The recorded-income total in EZ@Work is not automatically the adjusted profit or taxable income for your return.

GST: a 9% rate and two registration tests

The current GST rate is 9%. GST-registered businesses charge and account for GST on taxable local supplies unless they qualify for zero-rating or exemption.

Compulsory registration generally applies when taxable turnover exceeds S$1 million for the calendar year, or when you reasonably expect it to exceed that amount in the next 12 months. These are the retrospective and prospective tests.

The application period and effective date differ between the tests, and exceptions can apply. Follow the current IRAS guidance, including the prospective-registration changes from July 2025.

Check the filing instruction for your Year of Assessment

IRAS normally provides an individual filing period from 1 March to 18 April. Check the relevant Year of Assessment, your notification and the filing status shown in myTax Portal.

If IRAS requires you to file, you must do so even if the business made a loss, ceased or became dormant. If you receive no filing instruction, other income and self-employment criteria can still create a filing requirement.

This page does not calculate eligibility or submit your return. Use the official guidance or your tax professional.

MediSave depends on status and net trade income

The government guidance states that self-employed Singapore Citizens and Permanent Residents with annual net trade income above S$6,000 must contribute to MediSave.

The contribution depends on age and annual net trade income. Net trade income is a tax-defined amount, rather than simply the receipts recorded in an app. Check your assessed position and CPF requirements with the relevant official service.

EZ@Work does not calculate or pay MediSave contributions.

Retain proper accounts and supporting evidence

IRAS requires self-employed individuals to keep proper records and accounts for five years, supported by invoices, receipts, vouchers and other documents.

Keep records that explain both income and expense claims. Follow the official retention examples for the accounting period and Year of Assessment concerned.

This requirement is separate from the product’s storage period. An expense entry does not establish that the expense is allowable for tax.