HOMES will determine the family’s gross monthly income as part of the means-test assessment. For salaried employees, gross monthly income refers to the average income over a 12-month period, as derived by the Central Provident Fund (CPF) Board or based on the latest available assessment by the Inland Revenue Authority of Singapore (IRAS). 

For self-employed persons, gross monthly income refers to the average trade income over a 12-month period based on the latest available assessment by IRAS, or the income declared to the CPF Board or assumed under the CPF legislation.