Freelancer & Self-Employed Tax Guide Singapore 2026 (MediSave & Deductions)

The short version: as a Singapore freelancer you don't pay employee/employer CPF — but MediSave is compulsory once your net trade income tops $6,000/year, at rates rising with age (up to ~8–10.5%, capped). Your income is taxed as trade income (revenue minus allowable expenses) at normal resident rates, and your mandatory MediSave is tax-deductible. Estimate your tax with the Income Tax Calculator.

Quick answer

Freelancers/self-employed in Singapore: no compulsory OA/SA CPF, but mandatory MediSave if net trade income (NTI) > $6,000/year, at age-based rates (top bands ~8% under 35 → ~10.5% at 50+, each capped). Income is taxed as trade income = revenue − allowable expenses, at resident rates. Mandatory MediSave is tax-deductible.

CPF: only MediSave is compulsory

This is the biggest difference from being an employee. As self-employed, you do not make the monthly employee + employer CPF contributions into your Ordinary and Special accounts. The only compulsory CPF-related contribution is MediSave — and it kicks in once your net trade income exceeds $6,000 a year.

You can voluntarily contribute more to your CPF (e.g. to build retirement savings or for tax relief), but that's optional and separate.

How much MediSave you'll owe

MediSave is based on your age and net trade income (NTI), charged as a percentage that rises with NTI up to a cap:

Lower NTI is charged at reduced rates within each band (e.g. ~4% at the lower end for under-35s). After you file, CPF issues a Notice of Contributions; payment is due within 30 days, and you can use GIRO instalments to spread it out. Set money aside as you earn — a year-end MediSave bill is a common cash-flow shock for new freelancers.

How your income is taxed

Your freelance earnings are trade income, taxed at the same progressive resident rates as a salary. The taxable figure is your net trade income:

Net trade income = business revenue − allowable business expenses

Report it in your tax return. IRAS also uses this NTI to compute your compulsory MediSave, so it's doing double duty — accuracy matters.

What you can deduct

Allowable expenses must be incurred wholly and exclusively to earn your income:

• Advertising and marketing
• Software, tools, subscriptions
• Professional fees (accounting, legal)
• Business-use transport
• Supplies and materials
• Home-office costs — the business portion of utilities/internet if you work from home

Not deductible: personal expenses, and capital items (e.g. a laptop or equipment) as outright expenses — those are generally claimed through capital allowances. And remember your mandatory MediSave contributions are fully tax-deductible.

A simple workflow for freelancers

1. Separate accounts — a dedicated bank account for business income/expenses makes everything cleaner.
2. Track income and expenses monthly; keep receipts/invoices.
3. Invoice properly — see how to create an invoice in Singapore and the Invoice Generator.
4. Set aside ~15–20% of income for tax + MediSave so the bills don't sting.
5. File and pay; estimate the tax portion first with the Income Tax Calculator.

The bottom line

Freelancing in Singapore is tax-light but not tax-free: MediSave is compulsory above $6,000 NTI (rising with age, capped), and your trade income is taxed at normal rates after deducting genuine business expenses — with mandatory MediSave deductible. Track diligently, invoice cleanly, set money aside, and estimate early with the Income Tax Calculator.

General information, not tax advice. MediSave rates and thresholds are set by CPF; tax treatment by IRAS — verify current figures on cpf.gov.sg and iras.gov.sg.