Singapore (SG)
Singapore is a city-state island nation at the southern tip of the Malay Peninsula and one of the world's foremost global cities.
2026 Annual Changes — Singapore
Updated thresholds, benefits, and regulatory changes effective this year.
Singapore's 2026 key changes: CPF Ordinary Wage ceiling raised to S$8,000/month (final step of phased increase), Local Qualifying Salary rising to S$1,800/month from July 2026, carbon tax raised to S$45/tonne CO₂ from January 2026, CPF Full Retirement Sum confirmed at S$220,400. Employment Pass and S Pass minimum salaries confirmed. GST remains at 9% (third year). Foreign buyer stamp duty (ABSD) unchanged at 60%.
Key Changes for 2026
| Category | 2026 Value | Previous | Effective Date |
|---|---|---|---|
| CPF — Ordinary Wage (OW) Ceiling Final step of phased increase; OW ceiling raised to S$8,000/month from January 2026 | S$8,000/month | S$7,400/month (2025) | 1 January 2026 |
| CPF — Employee Contribution Rates (age ≤55) Contribution rates unchanged | 20% employee / 17% employer = 37% total on Ordinary Wages up to S$8,000/month | 20%/17% (unchanged since 2023) | 1 January 2026 |
| CPF — Full Retirement Sum (FRS) FRS raised as part of annual schedule | S$220,400 | S$205,800 (2025) | 1 January 2026 |
| CPF — Basic and Enhanced Retirement Sums BRS and ERS raised proportionally with FRS | Basic Retirement Sum (BRS): S$110,200 (half of FRS). Enhanced Retirement Sum (ERS): S$440,800 (2× FRS). | BRS: S$102,900; ERS: S$393,000 (2025) | 1 January 2026 |
| GST (Goods and Services Tax) No change — remains at 9% | 9% (third year at this rate; raised from 8% in January 2024) | 9% (since January 2024) | 1 January 2026 |
| Carbon Tax Carbon tax raised from S$25 to S$45/tonne CO₂e from January 2026 | S$45/tonne CO₂e (effective 1 January 2026). Will remain at S$45 through 2027. Target: S$50–80/tonne by 2030. | S$25/tonne (2024–2025) | 1 January 2026 |
| Employment Pass (EP) Minimum Salary Minimum qualifying salary confirmed for 2026 | S$5,600/month (general sectors). S$6,200/month (financial services sector). From January 2027: S$5,800 / S$6,600. | S$5,000/month general; S$5,500/month financial services | 1 January 2026 |
| S Pass Minimum Salary Minimum qualifying salary confirmed for 2026 | S$3,300/month (general sectors). S$3,800/month (financial services sector). From January 2027: S$3,600 / S$4,000. | S$3,150/month general; S$3,650/month financial services | 1 January 2026 |
| Local Qualifying Salary (LQS) LQS raised to S$1,800/month from July 2026 (announced Budget 2026) | S$1,600/month (January–June 2026). S$1,800/month from 1 July 2026 (S$12/hour part-time). | S$1,400/month (2023–2025) | 1 July 2026 |
| Progressive Wage Model (PWM) PWM extended to additional sectors; retail and food services under enhanced requirements | Covers: cleaning, security, landscape, lift maintenance, retail, food services, admin support, waste management sectors. | Retail and food services added in 2024–2025 | 1 January 2026 |
| Foreign Buyer Stamp Duty (ABSD) No change — remains 60% for foreigners buying any Singapore residential property | 60% ABSD for foreigners. 20% for Singapore PRs buying second property. 35% for citizens buying third+ property. | 60% (raised from 30% in April 2023) | 1 January 2026 |
| MediShield Life — Premiums Annual premiums adjusted for age bands | Age 21–25: approximately S$120/year. Age 36–40: approximately S$340/year. Age 61–65: approximately S$1,190/year. Government subsidies offset increases for lower-income groups. | Slightly lower in 2025 | 1 January 2026 |
| MediShield Life — Annual Claim Limit Claim limits adjusted upward | Annual claim limit: S$150,000. Daily hospital ward B2/C: up to S$700/day. | S$150,000 (gradual enhancements since 2015 launch) | 1 January 2026 |
| HDB Housing Supply 40,000+ BTO flats offered over 2025–2026; new Standard/Plus/Prime classification fully effective | Standard BTO prices from S$180,000 (2-room Flexi). Plus from S$250,000. Prime from S$350,000. | Previous Mature/Non-Mature classification replaced by new system from October 2024 | 1 January 2026 |
| Personal Income Tax — Top Rate No change — top marginal rate remains 24% | 24% on chargeable income above S$1,000,000 (introduced November 2022 for YA 2024+) | 22% (above S$320,000) before YA 2024 | 1 January 2026 |
| SkillsFuture Credit SkillsFuture Credit continues; Mid-Career Enhanced Subsidy for courses up to 90% | S$500 base credit (Singaporeans and PRs, age 25+). Additional S$4,000 for age 40+ (one-time top-up from 2024, drawing down in 2026). Mid-Career Enhanced Subsidy: up to 90% course fee for eligible Singaporeans aged 40+. | S$500 base credit (unchanged) | 1 January 2026 |
| Singapore Budget 2026 Budget 2026 announced February 12, 2026 by PM Lawrence Wong; key measures include LQS increase and continued Forward Singapore social compact | LQS rise to S$1,800 from July 2026; continued Workfare Income Supplement; SkillsFuture enhancements. Check singaporebudget.gov.sg for full details. | Budget announced annually in February | Various 2026 effective dates |
January Checklist
Actions to take each January when new rates take effect.
- 1
Verify CPF contribution rate on first January payslip — OW ceiling is now S$8,000/month. Check age-specific rates if you turned 55, 60, 65, or 70.
- 2
Check CPF annual statement from CPFB — verify Ordinary, Special, and Medisave account balances.
- 3
Note carbon tax rose to S$45/tonne from 1 January 2026 — relevant for businesses subject to carbon pricing.
- 4
Check if Employment Pass salary still meets the minimum (S$5,600 general / S$6,200 financial services) — January 2027 thresholds rise further.
- 5
Note LQS increases to S$1,800/month from 1 July 2026 — relevant for employers hiring local workers to qualify for work pass quotas.
- 6
Review MediShield Life coverage and top-up Integrated Shield Plan — premiums typically due January–March.
- 7
File taxes for previous YA from 1 March via myTax Portal — e-filing deadline 18 April.
- 8
Update SingPass contact details and Myinfo profile — used for all government transactions.
- 9
Check SkillsFuture Credit balance at skillsfuture.gov.sg (Singaporeans and PRs) and use before expiry.
Where to Track Annual Changes
-
cpf.gov.sg (CPF Board) — contribution rates, OW ceiling, retirement sums
-
iras.gov.sg (IRAS) — income tax rates, GST, personal relief
-
mom.gov.sg (MOM) — Employment Pass, S Pass, LQS, work permit changes
-
nea.gov.sg (NEA) — carbon tax and environmental compliance
-
mof.gov.sg (MOF) — Budget announcements (typically February)
-
hdb.gov.sg (HDB) — BTO launch schedules, resale price indices
-
singaporebudget.gov.sg — full Budget document
Singapore's CPF FRS of S$220,400 is the confirmed 2026 figure — older estimates of ~S$213,000 are incorrect. The carbon tax is S$45/tonne from January 2026, not S$50 as some pre-Budget sources suggested; it will remain at S$45 through 2027. Budget is announced each February — the 2027 Budget (February 2027) will set the next round of EP/S Pass/LQS thresholds. Always verify figures against official CPFB, IRAS, and MOM sources.
Annual Changes
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