SRS - what to invest in?

[Voodooman]

1 hour ago, Throttle2 said:

Unfortunately i hv no oyher way more than the next guy to lower my taxes. The savings are not substantial proportion to overall and i cant accept the conditions. Therefore effort vs returns for me , cannot work

Yes, the money is stuck in some ways but you can still get it out with penalty.

Anyway, i take it that i used the cash and tax saving to buy equities that i will hold long term. I rebalance this portfolio once in a while. 

[Voodooman]

49 minutes ago, Enye said:

other than cash, can use others meh? 😅

boss jin high ses.. anyway now cap is 15.3k not 14k

I m not sure. I don't think CPF fund are involved.

Yes, Thanks for the correction, 15.3k max. I bolui, only managed 14k. 😄

[Ct3833]

3 hours ago, Voodooman said:

Yes. Done the maths. SRS is a no brainer for me. The $14k I put in save me a few thousands in taxes every year and the money in my SRS account are also fully invested. I am going to withdraw and spend after retirement age and after I have stopped working or earning below taxable bracket. 

You might have other ways to lower your taxes but for a salaryman like me, very limited options and I don't want to change diapers at my age. 

 

Lich high SES man spotted. For the sum to have  saved you a few k of tax meaning you are one of the few 22% tax rate guys with a taxable income above 320k 😷😷😷 max one can save is about 3.3k

Edited March 26, 2021 by Ct3833

[Ct3833]

Delete 

Edited March 26, 2021 by Ct3833

[Voodooman]

 

32 minutes ago, Ct3833 said:

Lich high SES man spotted. For the sum to have  saved you a few k of tax meaning you are one of the few 22% tax rate guys with a taxable income above 320k 😷😷😷 max one can save is about 3.3k

Don't need 22% to save a few K on $15.3k bro. You see me very up. 

[Ct3833]

1 hour ago, Voodooman said:

 

Don't need 22% to save a few K on $15.3k bro. You see me very up. 

i not up there, can only imagine mah. no need 22% meh? haha. 

[Rskc]

Above 160k per annum with $15.3k SRS would save $2.3k @15% income tax rate. Quite a bit for normal salaried person. Of course peanuts to rich. 

[Enye]

10 hours ago, Ct3833 said:

i not up there, can only imagine mah. no need 22% meh? haha. 

boss... if taxable is 320k minimum, then voodoo boss gross must be 400k minimum lah.

but i think he pulling in equivalent of sg mayor income 😱

you two 半斤八两.  so high ses but always so humble one

😅

[Ct3833]

2 hours ago, Enye said:

boss... if taxable is 320k minimum, then voodoo boss gross must be 400k minimum lah.

but i think he pulling in equivalent of sg mayor income 😱

you two 半斤八两.  so high ses but always so humble one

😅

I poor man, so I am ok you  make me feel shiok to pretend that I am lich, but @Voodooman may sue you for POFMA ah, I dare not anyhow say about him😅

Edited March 27, 2021 by Ct3833

[Wt_know]

how to pump $250k into SRS? 

asking for fun only ... 😂

[Throttle2]

2 minutes ago, Wt_know said:

how to pump $250k into SRS? 

asking for fun only ... 😂

Thats the problem with all these govt schemes.  Jiak buay pah, Eeow buay see.

neither here nor there. Conditions thicker than a rocket operating manual.

🤦‍♂️

[Mkl22]

28 minutes ago, Wt_know said:

how to pump $250k into SRS? 

asking for fun only ... 😂

Only foreigners without cpf can do it faster. Else 15.3k yearly. I think. 

Edited March 27, 2021 by Mkl22

[Angcheek]

29 minutes ago, Mkl22 said:

Only foreigners without cpf can do it faster. Else 15.3k yearly. I think. 

U can dump any amount into SRS ... just that 15.3k per yr gets tax relief. Meaning any amt abovr that is pointless 😁✌🍻

[Enye]

1 hour ago, Wt_know said:

how to pump $250k into SRS? 

asking for fun only ... 😂

why wanna pump so much into srs one shot?

under current rules, the most you wanna have in your srs when you start withdrawal is 400k assuming no other taxable income streams then 

😬😅

 

[Wt_know]

ok .. give up ... so confusing

just pump $250K into Reits 😂

[Angcheek]

41 minutes ago, Wt_know said:

ok .. give up ... so confusing

just pump $250K into Reits 😂

This Reits is even more confusing... biz all down but share prices are up . 😄🍻🍻🍻

[AndeeLee2]

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