I started serious Investing Journey in Jan 2000 to create wealth through long-term investing and short-term trading; but as from April 2013 my Journey in Investing has changed to create Retirement Income for Life till 85 years old in 2041 for two persons over market cycles of Bull and Bear.

Since 2017 after retiring from full-time job as employee; I am moving towards Investing Nirvana - Freehold Investment Income for Life investing strategy where 100% of investment income from portfolio investment is cashed out to support household expenses i.e. not a single cent of re-investing!

It is 57% (2017 to Aug 2022) to the Land of Investing Nirvana - Freehold Income for Life!

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Wednesday, 24 May 2017

The End Of Personal Income Tax


No longer a tax payer after paying the last income tax for YA 2017!
Posted by Createwealth8888 at 22:20
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12 comments:

  1. Spur25 May 2017 at 02:32:00 GMT+8

    Ehhh I tot u retired only in Sep 2016? That means YA2017 still kena...

    Unless your chargeable income is below the threshold, then thousand apologies ... Welcome to tax-free living!! :) :)

    ReplyDelete
  2. Createwealth888825 May 2017 at 08:10:00 GMT+8

    Death & Taxes; once started; can only end at their time come.

    ReplyDelete
  3. TT Deng25 May 2017 at 08:58:00 GMT+8

    Still a tax payer. GST, property tax...just no more income tax

    ReplyDelete
  4. Sanye ◎ 三页25 May 2017 at 10:26:00 GMT+8

    My tax free day (personal income tax) will come in 2019. :)

    ReplyDelete
  5. Spur25 May 2017 at 12:38:00 GMT+8

    With more & more people on gig jobs (whether forced or voluntary), more are now income-tax-free.

    And minister complained they are missing out on GST too, with so many online transactions.

    Hopefully don't implement capital gains tax to make up difference! :O

    If I'm politician, I'd implement CGT over increasing GST.
    More politically acceptable -- but bad for us! :(

    ReplyDelete
  6. Uchiha Uzuma25 May 2017 at 12:40:00 GMT+8

    Good...

    ReplyDelete
  7. RayNg25 May 2017 at 15:04:00 GMT+8

    Personal tax ended but still has regular income flow in. :)

    ReplyDelete
  8. Spur26 May 2017 at 15:37:00 GMT+8

    Hahaha never say never... GST makes us less attractive as financial centre compared to HK, but we did it anyway. The govt calculated that it is lesser of 2 evils as compared to raising personal income and/or corporate income taxes. When you need the money, you need the money --- no choice have to get from somewhere.

    S'pore removed Estate Duty in 2008 mainly in response to HK removing it in 2006. Of course conspiracy theorists like to say also becoz of a certain very rich & very powerful wife going into coma.

    Now with HK ruled by Beijing, if it implements CGT, then don't be surprised for SG to follow. Especially as over the next 30 years, govt revenue is projected to grow much slower than govt expenditure e.g. aging population, mature economy.

    Like that, many of us will open foreign brokerage accounts liao. Hahaha!!

    ReplyDelete

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