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Income Tax Planning: SRS vs CPF Cash Top-ups


Panerex77
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Last year didn't manage to contribute [bigcry]

 

Use ocbc online banking to open account on last day, then need two days to process and open account, Not immediate de

I'm low income earner leh. definitely < 500k pa.

 

I also hope i earn so much lol [laugh]

New benchmark is 500k ah, very far away from me

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wah... she no work to take care of family

 

you still want her to top up her own CPF?

 

doc mai stingy lah

 

:wacko:

Maybe not a stingy doc leh....

A good hubby who give all his earning to her to keep

Now have to use his own allowance to top up for her

Tio boh.. Doc lala81

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until they go uni, so you still have time to save up [laugh]

wah my oa is committed to my wife sa until frs.

 

after that still must save for 3x60k

 

i think i work until 80 also cannot

 

 

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Didn't manage to contribute to srs

 

Voluntary top up cpf got tax deduction meh?

 

No $ lah, not enough to buy second property leh [bigcry]

cpf top up got tax rebate lah...

 

but i think with chief pay already hit cpf contribution limit le

 

cpf won't want your money

 

maybe top up for your parents lor

 

 

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I'm low income earner leh. definitely < 500k pa.

 

I also hope i earn so much lol  [laugh]

 

wah, earn < $500k pa means you earn $499,999pa ---> like that is low income  :grin:

 

i earn $50k pa call kns income?  :TT_TT:

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cpf top up got tax rebate lah...

 

but i think with chief pay already hit cpf contribution limit le

 

cpf won't want your money

 

maybe top up for your parents lor

 

 

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wah, earn < $500k pa means you earn $499,999pa ---> like that is low income :grin:

 

i earn $50k pa call kns income? :TT_TT:

aiyo... you first one to claim your pay same as ex table wiper!!!

 

wah middle income spotted

 

 

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Turbocharged

cpf top up got tax rebate lah...

 

but i think with chief pay already hit cpf contribution limit le

 

cpf won't want your money

 

maybe top up for your parents lor

 

 

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Turbocharged

Speaking of SRS, how come foreigners got higher limit than Singaporeans?!

 

Cos foreigners dont contribute CPF which is also another form of tax relief . I did not check the sums , but I believe its something like that :

 

SGP/PR  max (CPF + SRS )  =  Foreigner  max ( SRS ) 

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do note that top up for parents also got limit wor.... if not everyone who got the $$$ can hoot gau gau to enjoy tax relief. 

up to 7k only. just did it last year.

 

who knows... lausai $50k pa is from passive incomes  :XD:

 

really, my one and only passive income from SG Pool.

thats why i didnt chip in to feedback which bank provides highest fd rates blah blah..  

 

last year, minus $ to buy 4d, my passive income about $8k not $50k [lipsrsealed]  

$8k only, so i just left it in my posb acct

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Turbocharged

Every year very sian.. So little relief.. wonder if volunteering for reservist or perhaps vsc mata is able to claim some?

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https://www.areyouready.sg/YourInfoHub/Pages/News-CPF-SA-vs-SRS-Which-is-better-BT20160919.aspx

 

time of the year again..

 

Used to think that IF I had a million dollars, LG... lifes Good.

 

Now looks like the goal post has move.

 

Even if you have one million dollars, barely enough to cover retirement plans unless all the property are paid up and children are all grown up.

 

Edited by Sdf4786k
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https://www.areyouready.sg/YourInfoHub/Pages/News-CPF-SA-vs-SRS-Which-is-better-BT20160919.aspx

 

time of the year again..

 

Used to think that IF I had a million dollars, LG... lifes Good.

 

Now looks like the goal post has move.

 

Even if you have one million dollars, barely enough to cover retirement plans unless all the property are paid up and children are all grown up.

depends on how you want to live... need to grow the 1mil too...
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