SRS Tax Savings Calculator
Calculate your immediate 2026 tax relief and long-term retirement benefits with the SRS.
What is the SRS?
The Supplementary Retirement Scheme (SRS) is a voluntary scheme to complement the CPF. It is designed to encourage individuals to save more for retirement through significant tax incentives.
The Immediate Benefit: Every dollar you contribute to your SRS account reduces your taxable income for the year, saving you money at your highest marginal tax rate.
The Withdrawal Perk: Withdrawals at retirement age are 50% tax-exempt. If you spread your withdrawals, you can effectively pay 0% tax on your entire pot of savings.
How to Use This Calculator
- Annual Income - Input your total taxable income (salary + bonus) before any reliefs.
- Contribution Amount - Singapore Citizens/PRs can contribute up to S$15,300/year. Foreigners can contribute up to S$35,700/year.
- Check Savings - The calculator tells you exactly how much your income tax bill will drop next year.
Calculation Formula & Example
The Formula
Tax Savings = SRS Contribution × Marginal Tax Rate
Where:
- Cap (SC/PR) = S$15,300
- Cap (Foreigner) = S$35,700
Example Calculation
If you earn S$150,000 and contribute the max S$15,300, your tax rate is roughly 15%. You save S$2,295 on your tax bill immediately.
Benefits of Using This Calculator
- Progressive Savings - The more you earn, the higher your tax bracket, and the more you save with SRS.
- Investment Growth - Unlike CPF, you can invest your SRS funds in a wide range of stocks, ETFs, and insurance products.
- Future Exemptions - At retirement, you only pay tax on 50% of what you take out.
Calculator Use Cases
Highly effective for those in the 15% tax bracket and above.
Foreigners get a massive S$35,700 cap, making it one of the best tax-reduction tools available.
Frequently Asked Questions
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