Tax Rate in Singapore, Malaysia and Australia

Singapore Tax Rates
S$0 – S$20,000		0.0%
S$20,000 – S$30,000		3.5%
S$30,000 – S$40,000		5.5%
S$40,000 – S$80,000		8.5%
S$80,000 – S$160,000		14.0%
S$160,000 – S$320,000		17.0%
S$320,000 and above		20.0%
Australia Tax Rates
A$0 – A$6,000	Nil	0%
A$6,001 – A$30,000	15c for each $1 over $6,000	0% – 12%
A$30,001 – A$75,000	$3,600 plus 30c for each $1 over $30,000	12% – 22.8%
A$75,001 – A$150,000	$17,100 plus 40c for each $1 over $75,000	22.8% – 31.4%
A$150,000 and above	$47,850 plus 45c for each $1 over $150,000	31.4% – 45%
Malaysia Tax Rates
RM0 – RM5,000	1% for amount over RM2,500	0% – 0.5%
RM5,000 -RM20,000	RM25 plus 3% for amount over RM5,000	0.5% – 2.375%
RM20,000 – RM35,000	RM475 plus 7% for amount over RM20,000	2.375% – 4.357%
RM35,000 – RM50,000	RM1,525 plus 13% for amount over RM35,000	4.357% – 6.95%
RM50,000 – RM70,000	RM3,475 plus 19% for amount over RM50,000	6.95% – 10.39%
RM70,000 – RM100,000	RM7,275 plus 24% for amount over RM70,000	10.39% – 14.48%
RM100,000 – RM150,000	RM14,475 plus 27% for amount over RM100,000	14.48% – 18.65%
RM150,000 – RM250,000	RM27,975 plus 27% for amount over RM150,000	18.65% – 22%
RM250,000 and above	RM54,975 plus 28% for amount over RM250,000	22% – 28%

Before I graduate, I was considering if I should work in Malaysia, Singapore or Australia. Working in Malaysia definitely not a problem. Working in Singapore is a matter of applying for a working permit. To work in Australia, I will need to apply for PR. There are a few things that I took into consideration before I made up my mind. Three major factors that comes to my mind were :
a) Starting Pay
b) Tax Rates
c) Living Expenses

Why do I only take these three factor into consideration ? These three factors will determine the amount you will be saving in a month.

Will talk about the starting pay. For a graduate programmer, in Singapore, you will be expecting to get around S$21,600 a year. In Malaysia for the same position, you will be getting around RM21,600/year. In Australia you should be expecting around AU40,000/annum. At this point of time Australia seems to be a better place to work as the starting pay is higher. But we have not take tax into consideration.



In Singapore, earing for S$ 21,600 will be tax at the rate of 3.5% and the net income will be S$20,844. In Malaysia, earning for RM21,600 will be tax at the rate of RM475 + 7% for amount over RM20,000. The net income will be RM21,013. In Australia, earning for AU40,000 will be tax at the rate of $3,600 plus 30c for each $1 over $30,000. The net income will be AU33,400.

After taking tax into consideration, you will still save more by working in Australia. Will write about living expenses on my next entry.