I kept records of my income tax assessments from IRAS between the period 1992 to 2012, a total of 21 years.
My effective tax rate was 8.0% on my chargeable income.
Chargeable income is computed after deducting personal reliefs. I had also contributed to the Supplementary Retirement Scheme (SRS) and this had reduced my chargeable income further.
Income tax rates for Year of Assessment 2017 onwards start with 2.0% at the lowest end and 22% at the highest end. First $20,000 of Chargeable Income is exempt from tax.
My tax rate of 8.0% fell in the lower half of the income tax scale.
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