Budget 2025: 60% personal income tax rebate, capped at S$200 per taxpayer, for income earned in 2024

As part of a slew of SG60 goodies extended to Singaporeans, the Singapore government will provide a 60 per cent personal income tax rebate for income earned in 2024

This rebate will be for all tax resident individuals for the 2025 year of assessment, which assesses the amount of income earned in 2024.

The rebate is capped at S$200 per taxpayer.

During his 2025 Budget speech, Prime Minister and Finance Minister Lawrence Wong shared that with a cap, the rebate will primarily benefit middle-income workers.

No application for the personal income tax rebate is required as the Inland Revenue Authority of Singapore (IRAS) will compute and grant the rebate automatically.

For more information on the personal income tax rebate, taxpayers can refer to the tax bill they should receive between April and September 2025.

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