Understand your Singapore income tax obligations if you are a freelancer, influencer, or online seller. Learn what income is taxable, allowable deductions, and compliance tips to avoid penalties from the Inland Revenue Authority of Singapore (IRAS).
📌 Who is Considered Self-Employed?
In Singapore, freelancers, social media influencers, and e-commerce sellers are generally considered self-employed individuals. This means you are responsible for:
- Declaring all business and side income in your personal tax return
- Paying taxes on profits (revenue minus allowable expenses)
- Maintaining accurate income and expense records
Your income will be assessed under trade, business, profession, or vocation in your Form B or B1 tax return.
💰 Types of Taxable Income
As a freelancer, influencer, or online seller in Singapore, the following are typically taxable:
- Payments for freelance services (writing, design, consultancy, etc.)
- Brand sponsorship fees and influencer marketing payments
- Affiliate marketing commissions
- Sales revenue from online marketplaces (Shopee, Lazada, Carousell, Etsy, etc.)
- Advertising revenue from platforms like YouTube or TikTok
🚫 What is Not Taxable?
Generally, the following are not taxable in Singapore:
- Personal gifts that are not related to your business activities
- Prizes or awards not connected to your trade
- Capital gains from selling personal assets
However, if these items are given in the course of your business (e.g., PR kits to influencers), they may be considered taxable.
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📊 Allowable Tax Deductions
You can deduct expenses that are wholly and exclusively incurred in the production of your income. Common deductible expenses include:
- Office rental or co-working space fees
- Internet and phone bills
- Advertising and marketing costs
- Professional services (accounting, legal)
- Equipment and software used for work
- Travel expenses for business purposes
Keep all receipts and invoices for at least 5 years in case of IRAS audits.
🧾 Filing Your Taxes as a Self-Employed Person
- Log in to myTax Portal with your Singpass
- Declare your gross income and deductible expenses in Form B/B1
- Submit before 18 April (e-Filing) or 15 April (paper filing)
- Pay your Notice of Assessment (NOA) amount via GIRO, AXS, or internet banking
⚠️ Common Mistakes to Avoid
- Failing to declare all income from multiple sources
- Claiming personal expenses as business deductions
- Not registering for GST if annual turnover exceeds SGD 1 million
- Late or inaccurate filing, leading to penalties
💡 Tax Planning Tips for Freelancers & Influencers
- Set aside 15-20% of your income for taxes
- Consider contributing to your CPF Medisave Account for tax relief
- Use accounting software to track earnings and expenses
- Review IRAS updates each year for changes to tax rates and deductions
🔍 Final Takeaway
Whether you are a freelancer, influencer, or online seller in Singapore, understanding your tax obligations is crucial to staying compliant and maximising your deductions. Keep good records, file on time, and consult a tax professional if in doubt.
