Report complete driving receipts
Revenue includes gross passenger fares and rental received from relief drivers. Income is assessed on the preceding-year basis. The publication states two-line reporting up to S$200,000 and four-line reporting above that amount; its S$100,000 references apply only to YA 2020 and earlier. The fixed deduction available from YA 2019 is 60% of driving income and represents all driving expenses, including rental and diesel. It is not an extra deduction after those costs.
Actual costs require evidence
Alternatively, deduct qualifying actual rental, diesel, licence, washing, ERP and parking costs. Private food, household, medical and entertainment costs, traffic fines and CPF contributions are not business deductions listed in this guide. Choosing actual expenses requires daily expense records and supporting receipts or operator statements kept for five years from the relevant assessment year. Compare the available methods consistently, keeping other income separate from taxi-driving revenue.
Official source
A concise, independent Apex Gateway guide based on the official English source, not a reproduction of the complete document. Consult the original for full conditions, exceptions and subsequent updates.
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