As from April 2013 my Journey in Investing is to create Retirement Income for Life till 80 years old for two over market cycles of Bull and Bear.

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Sunday, 4 September 2016

SRS : You open. I open


Uncle8888 was talking to one woman and realized she too has SRS account. She has contributed once; but she doesn't need to pay any income tax as her three Child Tax Relief has completely offset any income tax payable and still have balance to offset many more years of future income tax payable.

Hmm... Uncle8888 was puzzled and asked why you open SRS?

You open. I open. Follow the crowd?

Some folks better know why you need SRS and for what purpose





5 comments:

  1. Replies
    1. OK lah!

      I'll come out to say it out loud, "She's not wearing any clothes!"


      CPF is already a forced savings.

      The MAIN reason for using SRS is because of tax savings. Period.

      Its introduced by top earnings for top earnings.


      What's better than SRS and voluntary CPF contributions in reducing out tax bill?

      1. Have more babies!!!

      2. Get retrenched.


      Delete
    2. :-)

      BTW, she might have read your comment. he he.

      Delete

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