What is the Notice of Assessment Singapore usually abbreviated to NOA?

Actual information

The Inland Revenue Authority of Singapore (IRAS) issues Notices of Assessment (NOA) to both individuals and businesses in Singapore, which is your official tax bill for a particular assessment year. Once you file your income tax return, IRAS reviews the information and sends a NOA, usually by the end of April, in both digital and hard copy formats. Let’s learn more about the Notice of Assessment Singapore (NOA). The NOA works like a receipt, clearly detailing your tax situation, including your sources of income and their amounts, any deductions you claim, and most importantly, the total tax you owe or receive as a refund. In that way, an important document is formed for understanding your tax obligations and ensuring correct settlement with IRAS.

It is important to note that the notice of assessment in Singapore is not always final. If you disagree with the estimated tax amount, you have the right to dispute it within 30 days of receiving the NOA. By filing a formal objection with IRAS, you can highlight any discrepancies and provide the necessary documentation to support your claim. IRAS will then review your objection and issue an amended assessment if necessary.

The NOA plays an important role in Singapore's tax system!

The NOA plays an important role in Singapore's tax system, ensuring transparency in tax calculations and allowing taxpayers to verify their assessments. By understanding what the notice of assessment Singapore is and how to interpret it, you can ensure timely and accurate tax settlement with IRAS.

There are different variations of notice of assessment in Singapore depending on your tax situation. If IRAS revises your tax assessment after the initial NOA, you will receive a notice of additional assessment. It highlights the additional taxes you owe due to adjustments made by IRAS. Conversely, if your tax calculations result in a credit due to you, IRAS will send a payment notice instead of a NOA. This document explains the amount you will receive as a tax refund.

By familiarizing yourself with the contents of the Notice of Assessment Singapore or NOA, you can ensure a smooth tax collection process. The document usually includes sections detailing your total income from various sources such as employment, investments, or rental properties. It will also list the deductions you've claimed for eligible expenses such as medical bills, charitable donations, or education fees. These deductions help reduce your taxable income and ultimately lower your tax bill.

Individuals who have not filed their income tax return

For individuals who have not filed their income tax return by the due date, IRAS can estimate your tax liability based on the information available and send an estimated estimate notice, serving as a temporary tax bill until you file your original return, and any adjustments will be reflected in a subsequent NOA.

Remember, it is important to keep your notice of assessment Singapore or NOA readily available for future reference. It serves as proof of your income tax assessment for that particular year and may be required for various purposes, such as loan applications or visa renewals. You can easily access and download past NOAs for the current and past three years through the IRAS myTax portal using your Singpass credentials.