Top ad

Saturday, April 7, 2018

Have you filed your taxes?

Being in the Stocks and Crypto market. I am so glad that capital gain are not taxable in Singapore. Although there is not much gain to speak of seeing the correction and crash happening in the stock and Crypto market recently. Yes I am affected by the current crash....... :(

Well on a happier note, I will be getting a $14000 tax relief for this year filling. This is because of the voluntary CPF top up that I did last year. I did a $7000 top up for my Mom Retirement Account and $7000 for my Special Account.

To me it seems like a no brainer to do the CPF top up. I am not suggesting that everyone go do the CPF top after after seeing this post. I believe everyone financial circumstances are different and should always weigh your options before making any financial choices.

For me I do the top up for the following reasons.

Topping up for myself
1) 4% interest in Special Account
2) Tax rebate
3) To reach the Basic retirement sum fast as I am planning for a 2nd property purchase. You need to have the Basic retirement sum in your CPF before you can use the Ordinary Account for the 2nd property.

Topping up for my Mom
1) 6% interest in Retirement Account.
2) Tax rebate
2) My Mom is 60+ and is planning to receive CPF life payout in a year or 2. The top up is like a 4% fix deposit for my Mom. Best Deal!

In fact, I topped up another $7000 for my Mom this year. Are you also topping? If so whats your reason?

Happy Value Investing

1 comment:

  1. Hello Everybody,
    My name is Mrs Sharon Sim. I live in Singapore and i am a happy woman today? and i told my self that any lender that rescue my family from our poor situation, i will refer any person that is looking for loan to him, he gave me happiness to me and my family, i was in need of a loan of $250,000.00 to start my life all over as i am a single mother with 3 kids I met this honest and GOD fearing man loan lender that help me with a loan of $250,000.00 SG. Dollar, he is a GOD fearing man, if you are in need of loan and you will pay back the loan please contact him tell him that is Mrs Sharon, that refer you to him. contact Dr Purva Pius,via email:(urgentloan22@gmail.com) Thank you.

    ReplyDelete