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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This blog is authored by an old multi-bagger blue chips stock picker uncle from HDB heartland!

"The market is not your mother. It consists of tough men and women who look for ways to take money away from you instead of pouring milk into your mouth." - Dr. Alexander Elder

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Tuesday, 8 January 2019

Workfare Payouts (2)


Read? Workfare Payouts


After clarifying with WIS back-end staff' on his eligibility for 2018 WIS;  CPF counter staff finally accepted Uncle8888's appeal for 2018 WIS as self-employed low income worker.

WIS payout as follows:

$200 per month kopi money in 2018!

So Uncle8888 officially contributed +1 to that number of low income workers in Singapore.


11 comments:

  1. Haha 👍

    But how come need to justify with WIS staff? Shouldn't it be automatic?

    ReplyDelete
    Replies
    1. Last year i.e. 2017 WIS was disqualified as self-employed status due to one time deferred bonus payment from 2016 from ex-company as I retired and not resigned so I was entitled to pro-rated bonus declared in 2016.

      This CPF counter staff just wanted to be very sure so she checked with WIS back end staff since I was disqualified last year.

      I remarked that CPF policies are often not easy to understand. She replied immediately WIS is not CPF. It is from Government. LOL!

      Delete
    2. Oh i c...

      Good lah ... the Medisave portion can more than cover annual medishield premium. Hoho!

      I previously wanted to get as self-employed tutor, but kena disqualified due to co-owning 2 properties, @#$%^& grrr! :)

      Delete
    3. Rental is considered as income. You definitely not counted as low income. Your rental income is median income. LOL!

      Delete
    4. Lucky, dividends are not counted as income!

      Delete
    5. Lol 😂 No lah still lower middle income haha.

      Since me jobless so all the rental income put under me to reduce wifey taxes. Now I laggi cannot qualify 😩

      Delete
  2. Is this call milking the cow(the G) for free milk by everyone if they can?

    Yes even multi-millionaires do it by asking children to buy subsidized HDB flats as their first properties.

    maybe 2 bites of the cherry too in former days?

    ReplyDelete
  3. Beside salary <2K, one has to meet additional criteria:

    ** Live in a property with an annual value3 of more than $13,000 assessed as at 31 December of the preceding year;

    ** does not own two or more properties; or

    **if married:
    you and your spouse together own two or more properties; or
    the assessable income of your spouse for the preceding Year of Assessment exceeds $70,000.

    Unfair leh.

    ReplyDelete
    Replies
    1. Unfair?

      Like the G is milking the people one way or another?

      Delete
    2. own two or more properties are passive income earners and likely can't be low income. Taxable income from rental more than $20K?

      Delete
  4. Whether your property is rented out or not U still have to pay property TAX. And at "commercial rate".

    ReplyDelete

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