[IRAS] Fixed Expense Deduction Ratio (FEDR) for Individual Self-employed Commission Agents

Dear Members

With effect from the Year of Assessment 2020 (in respect of income earned in the year 2019), individual self-employed commission agents (including property agents, insurance agents and remisiers) earning gross commission of up to $50,000 in a year, can claim deduction of expenses based on a deemed expense ratio of 25% of gross commission received. Alternatively, commission agents may claim actual business expenses if their business expenses are more than 25% of gross commission received. This initiative aims to ease tax compliance and facilitate tax fillings for individual self-employed commission agents.

You may wish to refer to the following link for more information: https://go.gov.sg/iras-commissionfedr

If you need further clarification or assistance, please contact IRAS by calling 1800 356 8300 or you can chat with their officers at "Chat with us" from Mondays to Fridays, 8am to 5pm.