Key Insight

The assessable income of individuals in Singapore has experienced a consistent upward trend from 2004 to 2023, indicating a general growth in the economy and individual earnings. The number of individuals assessed also shows a steady increase, reflecting population growth and potentially an expanding workforce. However, the rate of growth in assessable income appears to have accelerated in recent years.

Small Interesting Points of Note

Donations also increased over time alongside income. Further investigation could reveal interesting correlations between changes in assessable income and the increase in the number of individuals assessed.
Note that there may be limitations to the conclusions as missing data points are not accounted for in this analysis.

Methodology

• Data was extracted and cleaned for analysis. Numeric fields were converted to appropriate data types.
• A time series analysis was performed to identify trends in assessable income and the number of individuals assessed.
• Statistical summaries (min, max, avg) could not be directly reported due to the data types of the input parameters, therefore, visual analysis was instead performed to gauge the overall trend of the assessable income and number of individuals assessed.

Footnotes

¹No anomalies were explicitly identified but further analysis could reveal more complex patterns.