Self-Employed Income Tax & MediSave Estimator (Singapore)
Singapore doesn’t have a separate “self-employment tax” the way some countries do — self-employed persons pay the same progressive income tax rates as employees. But there’s a second, mandatory obligation employees don’t have to think about themselves: MediSave contributions, which self-employed persons with net trade income above S$6,000 must pay directly into their own CPF MediSave account. This calculator estimates both your mandatory MediSave contribution and your income tax on your net trade income (NTI), using current 2026 rates.
How Mandatory MediSave Contributions Work
If your net trade income exceeds S$6,000 for the year, CPF Board requires you to contribute to your own MediSave account — unlike employees, you have no employer to split the cost with, but the money still belongs to you and can be used for approved medical expenses and MediShield Life premiums. The rate is tiered by both age and income: a lower rate applies to the portion of NTI between S$6,000 and S$18,000, and a higher rate applies above S$18,000 — both increasing with age up to the 50–64 band before tapering down. IRAS shares your NTI with CPF Board automatically, so there’s no separate declaration required.
Why There’s No Quarterly Payment Like Some Other Countries
Countries like the U.S. require self-employed taxpayers to estimate and pay tax quarterly throughout the year. Singapore doesn’t work that way — both your income tax and your MediSave contribution are assessed annually based on the income you declare, and IRAS/CPF Board will bill you (with instalment options, commonly via GIRO) after your Notice of Assessment is issued. That’s why this calculator shows an annual total to set aside rather than a quarterly figure — matching how Singapore’s tax administration actually works, rather than mechanically copying a foreign system’s payment schedule.
A Few Practical Notes
This calculator assumes full MediSave relief against taxable income and doesn’t model other reliefs (Earned Income Relief, CPF cash top-up relief, etc.) that could further lower your tax bill. MediSave contributions are also capped at the Basic Healthcare Sum applicable to your age, which this simplified tool doesn’t check against — very high-NTI self-employed persons should verify their exact contribution using the official CPF Self-Employed MediSave Contribution Calculator. Platform work earnings (gig economy) have separate treatment from work year 2025 onward and aren’t covered here.
Freedom Wealth Lab Apps provides general educational tools, not personalized financial or tax advice. Read our full Disclaimer and Affiliate Disclosure. Data sources: IRAS resident income tax rates and CPF Board MediSave contribution rates for self-employed persons.
