Key Insight

From 2004 to 2023, both the number of individuals assessed and the total assessable income have shown a general upward trend in Singapore. The number of individuals in the taxable group has steadily increased, while the non-taxable group has seen some fluctuation but remains significantly lower in size. Total assessable income for both groups has risen substantially over the period, indicating growth in the overall economy and individual earning potential. While donations have also increased over time, their proportion to total income remains relatively consistent, suggesting a stable level of charitable giving.

Small Interesting Points of Note

The year-on-year growth rates show some variation, suggesting economic factors influenced individual income. Further analysis could identify correlating factors like GDP growth, employment rates, and policy changes that may have impacted these trends. The relative consistency of donations as a percentage of assessable income warrants additional investigation, potentially linking it to societal factors and tax incentives.

Methodology

• Data was obtained from the provided JSON API response from data.gov.sg.
• Numerical data (number of individuals, total income, assessable income, and donations) were extracted for each year and tax group.
• Trends were analyzed by observing the overall change and variations in values across years.
• No anomalies were immediately apparent, but further statistical analysis would be needed to formally identify potential outliers or significant fluctuations.
• Statistical summaries were not provided as the raw numbers have already been reported by data.gov.sg.

Footnotes

No footnotes are needed for this analysis.