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How Much Should I Set Aside From Each Invoice?
Freelancer Tax Pot
Enter each invoice as it comes in. See how much to keep aside for income tax and MediSave, and what your tax pot should hold now.
New to this? Read The Short Guide First →
2 Your Result
Set aside from this invoice
| Date | Invoice | Costs | Set Aside |
|---|
A result link includes your age, job answers and monthly estimate. It never includes your invoices. Only share it with people you trust.
What This Estimate Assumes
Rough estimate only, not advice. It is for Singapore tax residents who are Citizens or PRs. Income tax uses resident rates from YA 2024, before rebates. We take off Earned Income Relief, or treat it as already inside your job income if you entered one. Earned Income Relief uses the age you enter; IRAS uses your age on 31 December, so it can differ in the year you turn 55 or 60. Compulsory MediSave you paid this year counts as relief in full. MediSave uses CPF Board’s 2026 self-employed rates: none on yearly profit of S$6,000 or less, lower and phased rates to S$18,000, then 8%–10.5% of profit up to S$96,000. We spread one yearly rate over every invoice. It is based on your typical month, or your invoices so far scaled up to 12 months, so it changes as your year changes. Only invoices in the same calendar year as your latest invoice count. Tax and MediSave on this year’s profit are billed next year. Other reliefs, GST, platform earnings reported by a platform operator and non-residents are not covered. Rules as of 30 Sep 2026. Check IRAS and CPF Board before you decide.
3 What Next
See The Steps For This GoalRead The GuideHow Much Should A Freelancer Set Aside From Each Invoice? →Before You Use This Number
Where Are My Invoices Kept?
Only on this device, in your browser’s storage, with your other answers so they are there next time. We never send them anywhere, and result links leave them out. Clear All Invoices or clearing your browser data removes them. Members can also choose to save a private snapshot to My Plans.
Why Is The Rate The Same For Every Invoice?
Tax bands rise as your yearly profit grows. We work out your whole year’s bill first, then keep the same share of every invoice. That way you do not save nothing early in the year and too little later.
When Do I Actually Pay?
Tax on this year’s income is billed next year, after you file with IRAS. CPF Board sends the MediSave bill after your tax notice. Your pot should be ready by then.
What Does This Estimate Assume?
Rough estimate only, not advice. It is for Singapore tax residents who are Citizens or PRs. Income tax uses resident rates from YA 2024, before rebates. We take off Earned Income Relief, or treat it as already inside your job income if you entered one. Earned Income Relief uses the age you enter; IRAS uses your age on 31 December, so it can differ in the year you turn 55 or 60. Compulsory MediSave you paid this year counts as relief in full. MediSave uses CPF Board’s 2026 self-employed rates: none on yearly profit of S$6,000 or less, lower and phased rates to S$18,000, then 8%–10.5% of profit up to S$96,000. We spread one yearly rate over every invoice. It is based on your typical month, or your invoices so far scaled up to 12 months, so it changes as your year changes. Only invoices in the same calendar year as your latest invoice count. Tax and MediSave on this year’s profit are billed next year. Other reliefs, GST, platform earnings reported by a platform operator and non-residents are not covered. Rules as of 30 Sep 2026. Check IRAS and CPF Board before you decide.