It is early November, which leaves about eight weeks in the year. Several filing deadlines, one-off government payouts and rule changes fall between now and 1 January 2027, and some of them need action from you.
The short answer: file your corporate tax return by 30 November, watch for the SME Cash Grant this month, update payroll for the 1 January 2027 CPF changes, review foreign hiring plans before the new work pass salary floors, and decide how to use the new EDGE grant and the AI tax deduction. The details are below.
Key dates at a glance
| Date | What happens | Who should act |
|---|---|---|
| 30 Nov 2026 | Deadline to file Form C-S, C-S (Lite) or Form C for YA 2026 (15 Dec for Form C-S filed via SFFS software such as Xero) | Directors, finance |
| Nov 2026 | SME Cash Grant paid automatically (up to S$2,500) | Owners, finance |
| 31 Dec 2026 | ECI due for companies with a 30 Sep 2026 financial year-end (3 months after year-end) | Finance |
| 31 Dec 2026 | Last day before new Employment Pass and S Pass salary floors apply to new applications | HR, hiring managers |
| 1 Jan 2027 | Higher CPF contribution rates for employees above 55 to 65 | Payroll, HR |
| Sep 2026 to Mar 2027 | Enhanced Enterprise Financing Scheme (government risk share up to 70%) | Owners, finance |
1. Tax and statutory compliance
File your corporate tax return by 30 November
IRAS requires every company to file its YA 2026 Corporate Income Tax Return by 30 November 2026. This includes companies that were dormant or made a loss in the 2025 financial year, unless IRAS has granted a waiver.
| Form | Generally used by |
|---|---|
| Form C-S (Lite) | Companies with annual revenue of S$200,000 or less and simple tax affairs |
| Form C-S | Companies with annual revenue of S$5 million or less that meet IRAS conditions |
| Form C | All other companies |
Two points that trip people up. Filing your ECI does not replace the tax return, and your ACRA annual return does not replace it either. Picking the wrong form is another common last-minute problem, so confirm your eligibility early.
If you are using Xero and eligible to file Form C-S, the deadline is extended to 15 December 2026 when you file in Xero Compliance.
Read our earlier blog to know about Xero’s Form C-S Filing Feature here!
Check your YA 2026 Corporate Income Tax rebate
Budget 2026 first announced a 40% rebate. On 7 April 2026, in response to the energy crisis, the Government enhanced it. For YA 2026, the rebate is 50% of tax payable, with a minimum S$2,000 cash grant for active companies that employed at least one local employee in 2025. The combined benefit is capped at S$40,000 per company.
The rebate is applied automatically. When your Notice of Assessment arrives, compare it with the tax provision in your books so any difference does not surprise your finance team.
Watch your ECI due date
Companies must file their Estimated Chargeable Income within three months of their financial year-end. A company with a 30 September 2026 year-end therefore has until 31 December 2026. Check your own year-end rather than assuming the calendar year.
Find out your GST InvoiceNow date
IRAS confirmed at the Committee of Supply 2026 that all GST-registered businesses will have to send invoice data to IRAS through the InvoiceNow network. New voluntary registrants are already covered. Existing registrants follow in stages, based on annual supplies.
| Start date | Who is covered |
|---|---|
| 1 Apr 2026 | All new voluntary GST registrants |
| 1 Apr 2028 | New compulsory registrants, and existing registrants with supplies up to S$200,000 |
| 1 Apr 2029 | Existing registrants with supplies up to S$1 million |
| 1 Apr 2030 | Existing registrants with supplies up to S$4 million |
| 1 Apr 2031 | Existing registrants with supplies above S$4 million |
IRAS said it would notify businesses registered before 2026 of their date by mid-2026. If you have not seen your notice, check your myTax Portal mailbox. If your accounting software is not InvoiceNow-ready, year-end is a sensible time to plan the upgrade or switch, well before your date.
2. Cash flow: payouts and financing
SME Cash Grant arriving in November
The second support package, announced on 29 July 2026, includes a one-off SME Cash Grant. Active SMEs with at least one local employee receive S$500 per local employee, capped at S$2,500. It is paid in November 2026 and needs no application.
Example: a company with 8 local employees qualifies for 8 x S$500 = S$4,000, but the cap limits the grant to S$2,500. A company with 3 local employees receives S$1,500.
If the grant has not arrived by early December, check the eligibility details in the Government announcement and follow up with the relevant agency.
Enhanced Enterprise Financing Scheme
From September 2026 to March 2027, the Government will share up to 70% of the default risk (up from 50%) on SME Working Capital Loans and Project Loans under the Enterprise Financing Scheme. Project loans also extend to local projects of Singapore construction companies.
This does not mean the Government lends the money. Banks still decide. But a higher risk share can make banks more willing to lend, so if you expect to need financing in early 2027, speak to your bank before the window closes.
Stress-test your 2027 budget
The Government has said higher energy and logistics costs are likely to persist because of the Middle East conflict, and it has rolled out about S$2 billion in support across two packages on top of Budget 2026. When setting your 2027 budget, model electricity, freight and supplier price increases rather than assuming costs ease.
3. HR, payroll and manpower
Update payroll for the 1 January 2027 CPF changes
From 1 January 2027, CPF contribution rates rise for employees aged above 55 to 65. The new rates apply to wages earned from 1 January 2027, so December 2026 wages paid in January still use the 2026 rates. Rates for employees aged 55 and below do not change.
| Employee age | 2026 total | 2027 employer | 2027 employee | 2027 total |
|---|---|---|---|---|
| 55 and below | 37% | 17% | 20% | 37% |
| Above 55 to 60 | 34% | 16.5% | 19% | 35.5% |
| Above 60 to 65 | 25% | 13% | 13% | 26% |
| Above 65 to 70 | 16.5% | 9% | 7.5% | 16.5% |
| Above 70 | 12.5% | 7.5% | 5% | 12.5% |
Rates apply to monthly wages above S$750.
Example: for an employee aged 58 earning S$5,000 a month, the employer pays S$25 more per month (0.5%) and the employee contributes S$50 more (1%). The extra amount goes to the Retirement Account until the Full Retirement Sum is reached.
List every employee who will cross age 55, 60 or 65 during 2027, and update your payroll tables before the first pay run in January. Note that the Ordinary Wage ceiling has been raised to S$8,000 since 1 January 2026.
Review retirement and re-employment obligations
Since 1 July 2026, the minimum retirement age is 64 and the re-employment age is 69. An employer cannot dismiss an employee on grounds of age before 64 and must offer eligible employees re-employment up to 69. The retirement age will be raised to 65 and the re-employment age to 70 on 1 January 2029.
- Identify employees who will turn 64 in the next 12 months.
- Update employment contracts and the staff handbook with the new ages.
- Note that the Senior Employment Credit has been extended to December 2027.
Plan foreign hiring before the new salary floors
New Employment Pass and S Pass applications from 1 January 2027 must meet higher minimum qualifying salaries. Renewals are affected from 1 January 2028.
| Pass | Current minimum | New applications from 1 Jan 2027 |
|---|---|---|
| Employment Pass | S$5,600 | S$6,000 |
| Employment Pass (financial services) | S$6,200 | S$6,600 |
| S Pass | S$3,300 | S$3,600 |
| S Pass (financial services) | S$3,800 | S$4,000 |
These are base figures. The Employment Pass requirement rises with the candidate’s age, so use MOM’s Self-Assessment Tool for each candidate. If you plan to submit applications before year-end, check with MOM whether the application date or the decision date decides which threshold applies.
Also note that the Local Qualifying Salary rose from S$1,600 to S$1,800 on 1 July 2026. Full-time local employees must earn at least that amount to count fully toward your S Pass and Work Permit quota. The Progressive Wage Credit Scheme has been enhanced and extended to 2028 to help with the cost.
Prepare for the Workplace Fairness Act
The Workplace Fairness Act has been passed. MOM has said it aims to bring it into force by the end of 2027. It covers hiring and dismissal decisions and protects characteristics such as age, nationality, sex, marital status, pregnancy, caregiving responsibilities, race, religion, language, disability and mental health conditions. Smaller employers with fewer than 25 employees get a five-year grace period.
Use the quieter weeks at year-end to review job advertisements, interview practices and your grievance process. Fixing these now costs far less than fixing them after a complaint.
4. Grants and tax incentives to plan for 2027
The EDGE Grant has replaced EDG, PSG and MRA
Enterprise Singapore stopped taking new Enterprise Development Grant, Productivity Solutions Grant and Market Readiness Assistance applications on 29 September 2026. The new EDGE Grant opened on 30 September 2026. Projects already approved under the old schemes continue under their original rules.
- Support level: up to 70% for SMEs and up to 50% for non-SMEs, depending on the activity.
- Annual cap: S$100,000 per company per year, running from 1 April to 31 March.
- Digital sub-cap: up to S$30,000 of that cap can go to digital solutions, enterprise systems and selected automation.
- Eligibility: Singapore-registered companies with at least 30% Singapore citizen or PR ownership.
Because the cap resets on 1 April, map out which projects you want to fund in the year starting April 2027 and remember that grants generally need approval before the project begins.
400% tax deduction for AI spending
Under the expanded Enterprise Innovation Scheme, businesses can claim a 400% tax deduction on up to S$50,000 of qualifying AI expenditure per year for YA 2027 and YA 2028. For a company with a December year-end, spending in financial year 2026 falls under YA 2027.
Example: qualifying AI spend of S$50,000 gives a deduction of S$200,000. At the 17% corporate tax rate, that is about S$34,000 of tax saved, compared with S$8,500 from a normal deduction. This only helps if the company has enough taxable profit, and only spend that meets IRAS conditions qualifies, so check eligibility before you commit.
5. Year-end close and systems checklist
These are good-practice steps rather than legal requirements, but they make filing and audit season much smoother.
- Reconcile bank, receivables and payables accounts, and review aged debts for write-offs.
- Complete stocktake and update the fixed asset register.
- Accrue bonuses, unused leave and other year-end liabilities.
- Review GST treatment on unusual transactions before the last return of the year.
- Back up your accounting and payroll data, and review who has access to each system.
- Check licence and subscription renewals for accounting, payroll and HR software.
- Set the 2027 budget with the CPF, work pass and cost changes above built in.
Action list by role
| Role | Do before 31 December |
|---|---|
| Business owners and directors | Approve the tax filing by 30 Nov. Decide on EDGE projects and AI spending for 2027. Speak to your bank about financing if needed. |
| Finance and accounting | File the tax return by 30 Nov. Check the SME Cash Grant and tax rebate. Confirm your InvoiceNow date and software readiness. Close the books. |
| HR and payroll | Load 2027 CPF rates. Review employees nearing 64. Audit EP and S Pass holders against new floors. Review hiring practices for the Workplace Fairness Act. |
| Operations and department heads | Stress-test 2027 budgets for energy and supplier costs. Flag headcount plans that involve foreign hires early. |
Need help working through your year-end?
Every business has a different mix of these items. If you are unsure which apply to you, 361DC can walk through your year-end checklist with you, covering InvoiceNow readiness, payroll setup for the 2027 CPF changes and grant options for 2027. Contact us at 6515 7906 or enquiry@361dc.com.
Frequently Asked Questions
30 November 2026 for Form C-S (Lite), Form C-S and Form C, regardless of your financial year-end, unless you have a waiver. Form C-S filed through SFFS accounting software such as Xero is automatically extended to 15 December 2026.
No. Eligible active SMEs with at least one local employee receive it automatically in November 2026. It is S$500 per local employee, capped at S$2,500.
Contribution rates rise for employees aged above 55 to 60 (total 35.5%) and above 60 to 65 (total 26%). Rates for other age groups stay the same.
64 since 1 July 2026, with a re-employment age of 69. It will be 65 and 70 on 1 January 2029.
No. New applications closed on 29 September 2026. The EDGE Grant now covers new projects, with a cap of S$100,000 per company per year.
Only new voluntary registrants are covered today. Existing GST-registered businesses are phased in between 1 April 2028 and 1 April 2031 based on annual supplies. IRAS notifies businesses of their specific date.
No. The deduction applies to qualifying AI expenditure up to S$50,000 per year for YA 2027 and YA 2028. Check IRAS conditions before committing spend.
