Base NS Pay of $1,600 for Self-Employed NSmen
Scenario | Calculations |
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Insurance agent, attending a High-Key ICT Period of NS Activity: 3 to 14 Oct 2022 Calendar days for NS Activity: 12 days Total number of calendar days in Oct: 31 days
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Calculation (Figures used are for illustration purposes only) Service Pay (SP) (Based on Calendar Days) Monthly SP: $990 SP for NS Activity period: $990 x (12/31) = $383.23 [If NSman has provided consent and trade income data from IRAS is available] MUP payments will be automatically generated using the Income Tax Option (see sample calculation for Auto-Generated MUP Claim for Self-Employed NSmen – Income Tax Option)] [If NSman has not provided consent, trade income data from IRAS is not available, and no claim was submitted] Base NS Pay for NS activity period: $1,600 x (12/31) = $619.35 Top up = Base NS Pay – SP = $619.35 – $383.23 = $236.12 NSman will be credited SP of $383.23 and a top-up of $236.12 as a result of base NS Pay. |