1. You will need to declare your income
For Work Year 2023 (WY2023) onwards
All Net Trade Income (NTI) declarations can be made with the Inland Revenue Authority of Singapore (IRAS) by filing a tax return. There is no need to file separate declarations with CPF Board.
If you receive a notification (via letter/form/SMS) to file tax from IRAS, or you meet the requirement to file tax (i.e. NTI above $6,000 and/or Total Income above $22,000), please complete and submit the tax return to IRAS directly. The income tax filing period is from 1 March to 18 April annually.
If you do not receive a notification from IRAS or do not meet the requirement to file tax (i.e. NTI is less than or equal to $6,000 and/or Total Income less than or equal to $22,000), please declare your self-employed NTI to IRAS via myTax Portal so that your eligibility for WIS can be assessed. The portal will be available from 1 March to 31 October annually for taxpayers to e-File tax returns.
Once IRAS has assessed your income for the year, your assessed NTI will be transmitted to the Board. You can check your updated NTI records by logging in to the Self-employment dashboard with your Singpass.
For Work Year 2022 (WY2022) or earlier*
If you were not issued a Notice of Assessment (NOA) by IRAS and wish to declare NTI for work years prior to 2023, you can write to us via My Mailbox using your Singpass.
* Please note that you have until 31 December, two years after the Work Year, to submit an appeal for WIS. For example, for work done in 2022, the appeal must be filed by 31 December 2024.
If you have declared your NTI with IRAS, you need not declare your income again to the Board.
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2. You will need to contribute to your MediSave account
If your NTI is more than $6,000
The amount of MediSave contribution you need to make to qualify for WIS is based on your NTI earned in the Work Year without accounting for previous years' losses. CPFB receives this NTI from IRAS. This amount may differ from the MediSave contributions you are required to fulfil as a SEP under the Self-Employed Scheme (SES) which may be adjusted based on previous years' losses or excess MediSave contributions.
You may refer to any of the following sources for the amount of MediSave contribution that you need to make to qualify for WIS:
i) WIS e-services: Login to the WIS e-services with your Singpass to check your MediSave liability payable.
ii) WIS calculator: Estimate the amount of MediSave payable using the WIS calculator for SEPs.
If your NTI is $6,000 or less*
You are not required to pay MediSave contribution under SES. However, in order to qualify for WIS, you will be required to make MediSave contributions within 2 years after the year you worked. E.g. if you worked in 2024, you will need to make the Medisave contributions by 31 December 2026. Please see the following for the required amount of MediSave contribution to qualify for WIS if your NTI is $6,000 or less, according to your age in the year you worked:
| 30 to 34 years |
$240 |
| 35 to 44 years |
$270 |
| 45 to 49 years |
$300 |
| 50 years and above |
$315 |
* Note: SEPs earning less than $6,000 will also have to meet the eligibility criteria for concessionary WIS. Please refer to the concessionary WIS eligibility criteria here for more details.
Please note the following timelines for declaring your income and fulfilling your required MediSave contribution to receive WIS:
Scenario
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Annual timelines for declaring income earned as an SEP during the preceding Work Year
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MediSave contribution deadline
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You received a notification (via letter/form/SMS) to file tax from IRAS, or meet the requirement to file tax (i.e. NTI above $6,000 and/or Total Income above $22,000)
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From 1 March to 18 April:
Please complete and submit the tax return to IRAS directly.
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30 days from the date of issuance of the Notice of Computation from IRAS or Notice of Contribution from CPF Board.
Alternatively, 31 December two years after the Work Year:
If you are making your MediSave contributions via GIRO instalments*.
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You did not receive a notification from IRAS or do not meet the requirement to file tax
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From 1 March to 31 October:
Please declare your self-employed NTI to IRAS via myTax Portal to e-File your tax returns.
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31 December two years after the Work Year.
This deadline also applies to MediSave contributions via GIRO instalments*.
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* The respective annual timelines for declaring to IRAS the income earned as an SEP during the preceding Work Year applies even if you are making your MediSave contributions via GIRO instalments, i.e. you will need to declare your income to IRAS (i) from 1 March to 18 April if you received a notification to file tax from IRAS or meet the requirement to file tax; or (ii) from 1 March to 31 October if you did not receive a notification to file tax from IRAS or do not meet the requirement to file tax.
