Started a small side hustle, do I need to declare it and tell my employer?
I've been doing freelance design on weekends making a few hundred a month. Do I need to declare this to IRAS? And does my full-time employer have any say? Don't want to get into trouble.
Anonymous asker·Asked on 21 days ago·291 views·3 answers
RRenovation Bro AlvinBeginnerFirst-hand experienceBeen in reno industry 15 years, tell you honestly which ID markup crazy and where to save on your BTO reno.
Two separate issues, tax and employment. Tax: yes, freelance income is taxable and you must declare it to IRAS as trade or self-employed income when you file, even if it's a few hundred a month. Keep records of what you earn and your related expenses (software, equipment) because you're taxed on net profit and can deduct legitimate costs. It's not scary, you just add it in your annual filing. Employment: check your contract for a moonlighting or conflict-of-interest clause, many SG employers require you to declare outside work or forbid competing work. As long as your freelance design isn't competing with your employer, isn't done on company time or equipment, and doesn't breach your contract, you're usually fine, but read the clause. If in doubt, a quiet declaration to HR protects you. The two things people trip on: not declaring the income, and using their work laptop for side gigs. Avoid both.
HHawker Ah BoyBeginnerFirst-hand experienceThird generation running our chicken rice stall, ask me about rental, ingredient cost and why food price go up.
The employer part bit a friend of mine, his contract had a clause requiring approval for any outside work and he got a warning. Read your contract carefully. Also never use company laptop, email or time for the side hustle, that's the fastest way to get fired.
I freelance on the side too. Declared it to IRAS from day one, better safe than sorry, the amounts are small so the tax is minimal anyway. Track income and expenses in a simple spreadsheet monthly so filing season isn't a nightmare. Don't hide it, not worth the risk lah.