- 01Your freelance income
- 02Your company income
- 03Your salary and dividends
Owning a company does not turn all your income into company income. You may still have personal freelance profits and salary. Start with who contracted for the work, who earned the income and what each payment represents.
01Check the relationship, not the label
Working for a firm does not automatically make you its employee or a freelancer. IRAS distinguishes employment from self-employment by the actual working arrangement. Being a shareholder or director alone does not make you self-employed.
Keep the contract. Check unclear arrangements before choosing a tax-return section.
02Put each payment in its own lane
| Payment | Where to start |
|---|---|
| Fees earned through your personal freelance business | Your personal business-income records |
| Fees earned by your Pte Ltd | The company's books and tax return |
| Salary or director's fees paid to you | Your employment-income records |
| A genuine company dividend | The dividend voucher and applicable tax treatment |
Reconcile the invoices to these lanes. Moving cash between accounts does not change who earned it.
03Prepare your freelance result
Record business revenue and allowable expenses to work out the net business result. Personal expenses do not become business deductions because you paid them while freelancing.
Use the Trade, Business, Profession or Vocation section for your self-employment income. Follow IRAS' filing guidance, including pre-filling or No-Filing Service instructions that apply. Keep the supporting records, not just a spreadsheet total.
04Check salary, fees and dividends separately
Salary, bonuses and director's fees have their own tax rules. Director's-fee timing can depend on when you become entitled to the fee, not simply when money reaches your bank.
Dividends from Singapore-resident companies under the one-tier system are generally not taxable to shareholders. Do not treat every withdrawal as a dividend; document the payment properly.
Match vouchers and approved remuneration to your records.
05Check MediSave alongside tax
For self-employed Singapore citizens and permanent residents, annual net trade income over S$6,000 generally requires MediSave contributions. Being an employee too does not automatically remove this obligation.
CPF explains that your IRAS income declaration feeds this assessment. Check your CPF notice and any applicable contribution limits; platform-work rules differ.
06File for the right person
Your individual tax filing and the company's corporate filing are separate. Check pre-filled amounts and omissions, without declaring the same income twice.
Send your accountant the contracts, personal business summary, employment statements, dividend vouchers and company records in separate folders. Include other taxable income where applicable. Overseas income, non-resident status and employer CPF obligations need their own checks.