Personal Finance
Time for AK71 to be paid $12,750.
By A Singaporean Stockmarket Investor (ASSI)  •  December 2, 2013
Who? Who? Who is paying AK71 so much money? Why? Why? Make a guess? Pause. Pause. Pause. Give up? It is the last quarter of 2013 and I am making my yearly contribution to my SRS account. So, I am paying myself $12,750. Aiyohwho threw something rotten at me? Hey, must have a sense of humour mah. LOL.
Writing out a cheque to myself.
Although the contribution cap is S$ 12,750, we do not have to contribute the maximum if we don't need to or are unable to. Don't need to? Well, a person who pays relatively little income tax could be tax free simply by contributing a few thousand dollars to his SRS account. Unable to? Everyone's circumstances are different. $12,750 is quite a bit of money for many. If a person could only contribute $5,000 comfortably, then do so. Although he would not enjoy the maximum tax ......
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By A Singaporean Stockmarket Investor (ASSI)
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