SRS tax savings calculator
Enter your chargeable income and planned SRS contribution to see the tax you save under IRAS's resident rates.
Worked example
With S$100,000 chargeable income, tax is S$5,650.00. A S$15,300 SRS top-up cuts chargeable income to S$84,700 and tax to S$3,890.50 - a saving of S$1,759.50 (11.5% of the contribution).
Figures computed with the same formula as the calculator and unit-tested against official examples.
How it works
Contributions to your SRS account are deductible as a relief, up to S$15,300 a year for Singapore Citizens and PRs and S$35,700 for foreigners. Because the relief comes off the top of your income, you save tax at your highest marginal rates.
The saving is a deferral, not a gift: only 50% of SRS withdrawals are taxable at retirement, and withdrawals spread over 10 years can be taxed at low rates. Early withdrawals are fully taxable with a 5% penalty. SRS relief counts towards the S$80,000 overall relief cap. Contributions must be made by 31 December to count for the next Year of Assessment.
FAQ
Is SRS worth it if I earn S$50,000?
Your marginal rate at that level is 7%, so S$1,000 in SRS saves S$70. Whether that beats locking the money until retirement depends on your plans.
When is the deadline?
31 December of the year, for relief in the following Year of Assessment.
Can foreigners contribute to SRS?
Yes, up to S$35,700 a year.
Sources & rates as of 12 Nov 2026
If an official rate changes, the official page wins. Spotted an outdated figure? This page is reviewed regularly.