Simple Family Income Tax Calculation Template

Singapore’s income tax system is relatively streamlined, but there are quite a few tax relief clauses, most of which apply to families with children and elderly dependants. For dual-income households, reasonable planning can save a lot of tax. For years I worked ours out in a simple Google Sheet, and the result was almost always consistent with the actual tax paid. The calculator below does the same job, with the rates and reliefs kept in step with IRAS so there is no copy of your own to maintain. Here are the tips behind it.

♟️ List All Tax Relief Items

Every relevant relief in one place, each linked to the IRAS page it comes from, so the details are one click away when you need them — for example:

• The relief amount for Working Mother’s Child Relief (WMCR) was adjusted after 2023;
• Foreign Domestic Worker Levy (FDWL) Relief has been discontinued from YA 2025 — YA 2024 was the last year it could be claimed;
• The dependant’s income cap for Parent Relief doubled from $4,000 to $8,000 in YA 2025, whether or not they live with you.

♟️ QCR, PTR, Parent Relief Allocation

For families with children or dependent parents, these items can be allocated between both spouses. Generally, since mothers have working mother and caregiver tax benefits, more of these can be allocated to the father. But it’s not absolute — if the mother’s income is particularly high and falls into a higher tax bracket, and the total of other items hasn’t reached the $80,000 cap, it might be more cost-effective to allocate to the mother.

Keep the family’s combined tax in view while you shift the allocation: only the total tells you whether a move actually helped. The calculator’s Family column is there for exactly this.

♟️ CPF and SRS Top-Ups

Topping up CPF and SRS can both reduce taxes. But since the topped-up amount loses liquidity, don’t top up blindly.

Another consideration is whether you need to top up fully — if other reliefs have already reached the $80,000 cap, there’s no need to top up further. (Note that this applies to reliefs like CPF and SRS. Donations are a deduction rather than a relief, so they sit outside the cap — more on that below.) So I usually calculate and review at the end of the year, and if needed, transfer some long-term investment funds into CPF or SRS to continue similar investments.

CPF and SRS each have their own liquidity advantages. Personally, I prefer to max out CPF first, then supplement with SRS for tax relief, since I have enough emergency savings and other investments, so liquidity isn’t a main concern. But this varies by person — if you’re more sensitive to liquidity, SRS at least allows withdrawals with a penalty, while CPF can only be accessed at age 55.

♟️ Donation Tax Deduction

Donations to approved Institutions of a Public Character (IPCs) give you a 250% tax deduction. You don’t claim it in your return — IRAS applies it automatically from the IPC’s records, using the NRIC you give when donating.

Some companies encourage employees to participate in social causes and have matching donation policies. Say you donate $100 and your company matches it 1:1, at a 20% marginal tax rate (reference: $200k–19%, $240k–19.5%, $280k–20%). What you get back depends on whose name is on the receipt:

• If the full $200 is receipted to you, that is $500 of deductions and $100 saved in tax — all the tax you would have paid on this portion is instead donated, and the charity receives $200.
• If the company is receipted for its own half, you get $250 of deductions and save $50. Still worth doing, but only half your donation comes back.

Worth checking which way your programme issues receipts. For higher-income individuals, whether to give similar amounts to charity or pay taxes is a personal choice.

One caveat on timing: the 250% rate is not permanent. It was due to lapse after 31 December 2026, and Budget 2026 extended it to 31 December 2029. Worth checking the current rate before you plan around it.

Family Income Tax Calculator

Both spouses side by side. Enter each income and the reliefs each of you claims, then move the shared items between the two columns and watch the family total. The lowest total wins. Every line links to the IRAS page behind it, and the calculator states the year of assessment it is working to.

Reference

• IRAS Calculators