Year of Income (YI)

Year of Assessment (YA)

Amount of Deduction

Threshold Rates on Chargeable Income
2007 2008 $336,000 33 1/3%
2008 2009 $420,000 33 1/3%
2009 2010 $420,000 33 1/3%
2010 2011 $420,000 33 1/3%
2011 2012 $480,000 33 1/3%
2012 2013 $600,000 33 1/3%
2013 to 2014 2014 to 2015 $600,000 30%
2015 2016 $600,000 + 5.6% (Gross less than $200,000 w.e.f. October 2015) 30%
2016 2017 $660,000 + 5.6% (Gross less than $200,000 w.e.f. October 2015) 30%
2017 2018 (Income $180,000 and under) $720,000 + 5.6% Gross income 28%
2017 2018 (Income $180,000 and Over) 1/3 of Gross Income + 5.6% NIS of Gross Income (less than or equal to $220,000) First $1,440,000 @ 28% balance @ 40%
2018 2019 (Income $180,000 and under) $720,000+ 5.6% Gross income 28%
2018 2019 (Income $180,001 and Over) 1/3 of Gross Income + 5.6% Gross Income (less than or equal to $240,000) First $1,440,000 @ 28% balance @ 40%
2019 2020 (Income $195,000 and under) $780,000 + 5.6% Gross income 28%
2019 2020 (Income $195,001 and Over) 1/3 of Gross Income + 5.6% Gross Income equal to or less than $240,000) First $1,560,000 @ 28% balance @ 40%

NOTE: NIS is not a deductible for Self-Employed persons.