1. To reduce my tax payable
My annual income this year is estimated at $60,000+. The estimated tax is around $2,400, assuming there are zero reliefs. By topping up my mom's CPF, I'll get a relief of $7,000. Now that will reduce my tax to around $1,900.
2. Growing spare cash
I mentioned that I'm always on the look out for safe places to park my cash, mostly FDs. But the FDs these days are disappointing. I've on standby, at least $60k cash in my BOC account . So, ...
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