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SRS Tax Savings Calculator

See exactly how much income tax an SRS contribution would save you this year, based on your real marginal tax bracket, not a flat guess.

Your details

Your income after existing reliefs (CPF relief, earned income relief, etc). If unsure, your gross annual salary is a reasonable stand-in. Check your latest Notice of Assessment for the exact figure.
Sets your contribution cap: S$15,300/year for Citizens & PRs, S$35,700/year for foreigners.
This exceeds your annual contribution cap. SRS operators will reject contributions above the cap, so we've capped this calculation at your actual limit.
This is more than your entered income. You can't contribute more to SRS than you actually earn, so this result isn't realistic. Try lowering the contribution or double-check your income figure.

Your savings

Tax impact
Tax without SRS contribution
Based on your chargeable income as entered
Tax with SRS contribution
You'd save this year
Where this comes from
Your marginal tax bracket
The rate on your last dollar of income, which is what SRS relief actually saves you at
Effective saving on your contribution
This uses IRAS's published resident tax brackets (unchanged since YA2024) and assumes SRS is your only additional relief beyond what's already reflected in your chargeable income. If you're close to the S$80,000 overall personal tax relief cap from other reliefs, your actual SRS relief may be lower than shown here. This is not tax advice. For anything you're relying on, verify at iras.gov.sg or with a tax professional.

How this is calculated

Singapore's income tax is progressive: different slices of your income are taxed at different rates, from 0% on the first $20,000 up to 24% above $1,000,000. Every dollar you put into SRS reduces your chargeable income by that same dollar. Because it comes off the top of your income, it's saved at your marginal rate, not some average rate across your whole income.

That's why the same $15,300 contribution saves very different amounts for different people: someone in the 11.5% bracket saves less in dollar terms than someone in the 22% bracket, even contributing the exact same amount. This calculator runs your actual numbers through IRAS's real bracket table twice: once with your income as-is, and once with the SRS contribution subtracted, then shows you the difference.

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