Now Uncle8888 becomes low income earner who doesn’t have to pay any tax!
This Sep 2018 he will unlock his SRS and draws out $12K per year over the next few years to avoid paying any tax.
That is the primary objective of SRS! Tax deduction!
SRS will be his source of fixed income upon 62 and then RA upon 65.
$12K from SRS and $24K from CPF OA & SA …