If you were not issued a Notice of Assessment (NOA)/Non-tax advice by the Inland Revenue Authority of Singapore (IRAS), you are required to declare your Net Trade Income1 (NTI) with CPF Board.
If you have declared your NTI with IRAS, you need not declare your income again to CPF Board.
From Work Year 2023 (WY2023) onwards
Your Net Trade Income (NTI) may be declared to the Inland Revenue Authority of Singapore (IRAS) for Work Year 2023 (Year of Assessment 2024) by filing a tax return. IRAS' myTax Portal will be available from 1 March 2024 to 31 October 2024 to e-File a tax return.
If you wish to declare NTI for work years prior to 2023, you may still do so via the Self-Employed Income Declaration Form which is available on my cpf online services.
1NTI is your gross trade income minus all allowable business expenses, capital allowances and trade losses as determined by IRAS.