Who the infographic describes
The source, dated 21 February 2024, covers streamers selling, promoting or advertising products through social platforms or online auctions, for themselves or third parties. Such work is generally independent, short-term and undertaken under a contract for service. Income is treated as business, professional or vocational profit; the description does not convert every employment relationship into self-employment.
Cash and non-monetary benefits
Payments for work are taxable whether monetary or non-monetary. Value supplied goods or services at their retail market price or that of similar market products or services. If no open-market comparison exists, the graphic says the value can be obtained from the provider. Free products received as work remuneration should not simply be omitted because no cash changed hands.
Filing triggers and salaried side businesses
Report if IRAS issues Form B/B1 or a filing notification, preceding-year annual net trade income exceeds S$6,000, or preceding-year total annual income, including employment income and gross rent, exceeds S$22,000. A salaried employee streaming part-time reports the salary as employment income and streaming receipts as self-employment income. The source links the Filing Checker and myTax Portal, with account-activation advice for a first-time filer without notification.
Reporting format and permitted expenses
Revenue of S$200,000 or less uses a two-line statement, and higher revenue uses four lines, under Trade, Business, Profession or Vocation. Claim allowable costs of earning streaming income. Personal or family food and entertainment, fixed-asset purchases as ordinary capital expenditure, and private-car costs are not tax-deductible expenses. For mixed business and private internet use, claim only the streaming portion; do not deduct the full bill merely because some use was business-related.
Records rather than unsupported estimates
Keep accounts and supporting records for five years. Reporting estimates without proper records is unacceptable. Conditional simplified record keeping, including annual revenue not exceeding S$200,000 in each of the last two financial years, permits business registers or listings instead of source receipts and invoices when all conditions are met. The infographic also points to the detailed business-expense, capital-allowance and record-keeping guidance; its own figures retain the stated 2024 date.
Official source
This article independently explains the substantive contents of the official PDF, including the relevant conditions, procedures and annexes. The linked document remains the authoritative source for its original wording, and later changes should be checked separately.
Read the official PDF ↗