aiya its just small money…so lazy to read and understand
- Area representative Scheme – If u work out of Singapore often & you’re hired by a foreigner that pays u remuneration to your foreign bank account.
- Non Ordinary Resident (NOR) Scheme – Mainly for foreigners
- Supplementary Retirement Scheme (SRS) – for everyone earning above 30k/yearly
- Angel Investor Tax Reduction Scheme (AITD) – for investors
SRS
It’s a voluntary retirement scheme initiated by the government that allows u to park your cash (a part of ur salary) to reduce your chargeable income (reduce tax to be paid) yet at the same time allow u to invest without paying tax on your returns (In your SRS account)
Limitations:
- Maximum amount that you can put inside is $15,300
- In order to attain full tax exemption, you can only withdraw ...