First Financial Year End Calculator for Singapore Companies

It applies the rule of thumb we use for most new companies. Take the incorporation date, go forward one year, go back one calendar month, and take the last day of that month. A company incorporated on 15 July 2026 gets 30 June 2027. Its first accounts then run between 11 and 12 months, never more, so the first tax year covers close to a full year of results. Our guide on how to choose your first financial year end explains the thinking.

No. ACRA, the company registrar, lets a company choose any date as its financial year end, and 31 December is perfectly allowed. What ACRA limits is length: a financial year longer than 18 months needs its approval. Our recommendation is a tax-planning default. A parent company’s year end, a seasonal business or other plans can make a different date the better choice. See ACRA’s guide to choosing a financial year end.

It is the year in which IRAS, the tax authority, taxes a financial year’s results: the calendar year after the financial year ends. A financial year ending on 30 June 2027 is taxed in the Year of Assessment 2028, and its tax return is due by 30 November 2028. The months of results each Year of Assessment taxes are called its basis period. Our Year of Assessment guide explains more.

It is a tax relief for a new company’s first three Years of Assessment. In each one, 75% of the first S$100,000 of taxable profit (what IRAS calls chargeable income) is exempt, and 50% of the next S$100,000, so up to S$125,000 a year. The three years run in a row even if the company makes no profit in some of them.

To qualify, the company must be incorporated in Singapore and be tax resident in Singapore, and its shares must be held directly by no more than 20 shareholders throughout the year, either all individuals or with at least one individual holding at least 10% of the ordinary shares. Companies whose main business is investment holding, and companies developing property for sale or investment, do not qualify.

Your year end does not decide whether you qualify. It decides which months of results the three years cover. See IRAS’s guidance on the exemption.

You can, and it suits many companies, especially one whose parent company reports to 31 December. For a new company, though, the nearest 31 December can make the first financial year very short: a company formed in July would close its first accounts after about five and a half months. That short period is still a whole Year of Assessment, one of the three the start-up exemption covers. The calculator shows how 31 December compares with our recommendation for your date.

IRAS taxes no more than 12 months of results in one Year of Assessment, so the first accounts are split across two. The 12 months up to the year end go to one, and the months before them to the year before. Income and expenses are split by the dates they arose, or by the number of days in each period where that is not possible, and both years are filed together. A first year of, say, 17 months therefore gives the same three tax years as closing the accounts 12 months earlier. See IRAS’s first-year examples.

Yes, by telling ACRA through Bizfile. You can change only the current or the immediately previous financial year, and not if you have missed the deadline for an annual general meeting, an Annual Return or sending financial statements to members. ACRA must approve the change if the new financial year would be longer than 18 months, or if you changed your year end on or after 31 August 2018 and want to change it again within five years. See how to change your financial year end.

They all follow from the year end. Use our compliance deadline calculator to see the dates for your estimated taxable income, your financial statements, an annual general meeting if one is needed, the Annual Return and the tax return. Every result on this page links straight to it with the year end filled in.

No. It is a free tool from Leftright Corporate, built on the rules ACRA and IRAS publish and last checked on 30 October 2026. The recommended date is our approach, not a legal requirement. The tax years show which months of results the start-up exemption could cover, not how much tax your company would save: that depends on its eligibility and its profits. Talk to us or your tax adviser before you settle the date.