Jamesc Hypersonic December 20, 2015 Share December 20, 2015 I will invest in the rail company. Every time they announce a price increase instead of feeling angry I will feel happy and maybe even complain why price increase so low. ↡ Advertisement 2 Link to post Share on other sites More sharing options...
Jamesc Hypersonic December 20, 2015 Share December 20, 2015 I think I am turning into a lesbian capitalist. All I want to do is exploit men and make love to women. 1 Link to post Share on other sites More sharing options...
lausai88 Hypersonic December 20, 2015 Share December 20, 2015 I m a noob in investment , so to play safe, i bought this capitaland mall bond: http://www.capitalandmallasia.com/en/corporate/bonds-information 4 Link to post Share on other sites More sharing options...
Ktglfc Hypersonic December 20, 2015 Share December 20, 2015 I will invest in the rail company. Every time they announce a price increase instead of feeling angry I will feel happy and maybe even complain why price increase so low. I will be using SRS to invest in bank :) Rather than park $ in bank to earn pathetic interest, invest in them to earn some 4% :)) 2 Link to post Share on other sites More sharing options...
Lala81 Hypersonic December 20, 2015 Share December 20, 2015 Yes, gonna to put in some in srs for tax rebate. Cap still 12,750? I heard can just leave the fund in sea without doing anything until u got a sizeable fund. yes u can leave it in limbo. but a good point brought up by my friend is that it's likely in the next 20-30 years, income tax rates would have risen to support our increased social spending. And also the need to withdraw over 10 years starting from a certain year is also a limitation. I may not contribute the full amount next year. 1 Link to post Share on other sites More sharing options...
Lala81 Hypersonic December 20, 2015 Share December 20, 2015 (edited) 2x post Edited December 20, 2015 by Lala81 Link to post Share on other sites More sharing options...
Lala81 Hypersonic December 20, 2015 Share December 20, 2015 SRS would benefit people most with a very clear cut age whereby they retire with little or no income beyond. So a salaried employee with at most some rental income coming in from a 2nd property (but rental income can at least split with wife or what) If u are someone who can conceivable work until 70s, then haha still have to pay govt some tax. Link to post Share on other sites More sharing options...
Kangadrool Supersonic December 20, 2015 Share December 20, 2015 Every year I procrastinated in putting my hard earned $$$ into SRS airbags. I scare the airbags will give a big nasty bang catching me by big surprise. 4 Link to post Share on other sites More sharing options...
Lala81 Hypersonic December 20, 2015 Share December 20, 2015 (edited) Every year I procrastinated in putting my hard earned $$$ into SRS airbags. I scare the airbags will give a big nasty bang catching me by big surprise. i wont say they are super attractive. but if u earn taxable more than 120k p.a., then there is quite a bit of instant tax savings. but caveat applies as above. Edited December 20, 2015 by Lala81 Link to post Share on other sites More sharing options...
Voodooman Supersonic December 21, 2015 Share December 21, 2015 yes u can leave it in limbo. but a good point brought up by my friend is that it's likely in the next 20-30 years, income tax rates would have risen to support our increased social spending. And also the need to withdraw over 10 years starting from a certain year is also a limitation. I may not contribute the full amount next year. Sorry, what do you mean by withdraw over a 10 years period? I thought after retirement age, you can take out in full but it will be subject to personal income tax? So if you don't need the money, can draw minimum to minimize tax obligation? 1 Link to post Share on other sites More sharing options...
Lala81 Hypersonic December 21, 2015 Share December 21, 2015 Sorry, what do you mean by withdraw over a 10 years period? I thought after retirement age, you can take out in full but it will be subject to personal income tax? So if you don't need the money, can draw minimum to minimize tax obligation? ok, so after 62 or 65 depending on when you first put in $ (cos it's based on the retirement age when you put in $). You can choose not to take back your SRS $ 1st So for example say u retire at age 66. Then your income drops and the taxable amount reduces so that when you 67, u start withdrawing your SRS. Whatever you accumulated in your SRS, u must withdraw it within 10 years year on year. So u must have finished withdrawing it by age 76 years old. Doesn't matter if u have 100k or 2mil. So if its 2mil obviously u will still be taxed when u exceed the income limit of 1st 20k tax free. So in summary, it's good to have some investments via your SRS. BUT do understand the above limitations. It's not that u can draw down just below the 20k limit infinitely long over >10 year period to avoid taxation. Link to post Share on other sites More sharing options...
Kusje Supersonic December 21, 2015 Share December 21, 2015 ok, so after 62 or 65 depending on when you first put in $ (cos it's based on the retirement age when you put in $). You can choose not to take back your SRS $ 1st So for example say u retire at age 66. Then your income drops and the taxable amount reduces so that when you 67, u start withdrawing your SRS. Whatever you accumulated in your SRS, u must withdraw it within 10 years year on year. So u must have finished withdrawing it by age 76 years old. Doesn't matter if u have 100k or 2mil. So if its 2mil obviously u will still be taxed when u exceed the income limit of 1st 20k tax free. So in summary, it's good to have some investments via your SRS. BUT do understand the above limitations. It's not that u can draw down just below the 20k limit infinitely long over >10 year period to avoid taxation. IIRC, if you mati, it will all be taxed at one go as well... So not good for your dependents if you have too much in the account. Link to post Share on other sites More sharing options...
Lala81 Hypersonic December 21, 2015 Share December 21, 2015 IIRC, if you mati, it will all be taxed at one go as well... So not good for your dependents if you have too much in the account. good point as well. forgot about that. Link to post Share on other sites More sharing options...
lausai88 Hypersonic December 21, 2015 Share December 21, 2015 last year srs contribution is $4.9billion. SGean very very rich i dont know srs can park under FD. 1 Link to post Share on other sites More sharing options...
Soya Supersonic December 21, 2015 Author Share December 21, 2015 (edited) i wont say they are super attractive. but if u earn taxable more than 120k p.a., then there is quite a bit of instant tax savings. but caveat applies as above. The tax savings alone a few k liao, so the ROI on the outlay of $12,750 is pretty good. Plus, got additional ROI this year w $50 SRS deposit promo from DBS....keke. Edited December 21, 2015 by Soya 1 Link to post Share on other sites More sharing options...
Lala81 Hypersonic December 21, 2015 Share December 21, 2015 (edited) The tax savings alone a few k liao, so the ROI on the outlay of $12,750 is pretty good. Plus, got additional ROI this year w $50 SRS deposit promo from DBS....keke. About 2k if u earn above the 160k limit and can lower it to below 160k. Mine is with UOB. Edited December 21, 2015 by Lala81 Link to post Share on other sites More sharing options...
L_club23 4th Gear December 22, 2015 Share December 22, 2015 Better for foreigners it seems... no withdrawal penalties... 1 Link to post Share on other sites More sharing options...
Kusje Supersonic December 22, 2015 Share December 22, 2015 If you have elderly parents who are approaching retirement age, it will be good to top up for them. Once hit 62, they can withdraw w/o tax (presumably). ↡ Advertisement Link to post Share on other sites More sharing options...
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