Singapore taxation on personal income

Are interests earned from deposits of money with banks taxable?

Generally, interest received from deposits with approved banks and licensed finance companies is not taxable. You may check whether a bank is an approved bank or a licensed finance company on the Monetary Authority of Singapore (MAS) website.

In addition, interest received from your foreign banks is considered as foreign sourced income and not taxable in Singapore (exceptions apply).

Are the profits derived from the selling of shares taxable?

Gains derived from the selling of personal investment, such as shares, are generally not taxable as they are regarded as capital gains (unless you are deemed by the IRAS to be in the business of trading in shares). There is generally no capital gains tax in Singapore.

Are gains derived from the sale of property taxable?

Gains derived from the sale of a property in Singapore are generally not taxable as they are regarded as capital gains (unless you are deemed by the IRAS to be in the business of trading in properties). There is generally no capital gains tax in Singapore.

Any proceeds derived from the sale of an overseas property is considered as foreign sourced and is not taxable in Singapore (exceptions apply).