Parliamentary Replies

Parliamentary Question by Mr Chua Kheng Wee Louis:

To ask the Deputy Prime Minister and Minister for Finance in each year over the past 10 years of income tax assessment, what is the (i) 25th percentile (ii) median and (iii) 75th percentile of Total Employment and Trade Income of the top 1,000 earners from all professions who are Singapore citizens.

Parliamentary Reply by Second Minister for Finance, Ms Indranee Rajah:

The top 1,000 earners refers to a specific subset of taxpayers, and this group could change every year. As a lot of effort is required by IRAS to generate the full set of data requested, we have focused on the latest available data in Year of Assessment or YA, 2023 and the data five and ten years earlier in 2019 and 2014. This will provide a broad sense of the income trends over the past decade.

For YA 2023, the 25th percentile, median and 75th percentile income of the top 1,000 earners who are Singapore citizens are $2.4 million, $2.9 million, and $4.5 million respectively. For YA 2019, the corresponding figures are $2.0 million, $2.5 million, and $3.6 million. For YA 2014, the corresponding figures are $1.8 million, $2.2 million, and $3.0 million.