Personal Finance
Wrote Off $1k from Net Worth on the Most Hated Expenditure Of The Year
By Live Rich Life Free  •  July 11, 2021
The Only 2 Certainties in Life are Death and Taxes. We as humans could not avoid both Death and Taxes. I logged in to IRAS portal and decided to write off whatever amount it shows, from my net worth today. $1.1k is not a very large amount but it still pains a little when contributing to nation building of Singapore. However, considering that this amount could have been much bigger if not for my SRS contributions, CPF cash top-ups and charity donations, I would usually pay off in one lump sum instead of opting for interest-free instalments from GIRO deductions. Before the pandemic, I would use miles credit card to pay off income taxes, incurring a small admin fee, in order to earn miles. However, as earning miles do not give any short-term benefit due to heavy restrictions on leisure travelling, I decided to use cash to pay off my income taxes....
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By Live Rich Life Free
The purpose of this blog is for me to share my reinventions of how life should be lived and journal my journey towards financial independence. I believe that life is a story book. Each chapter contains 10 years of our lives. I am moving on towards mid 30s in 2021. As a nobody but somebody, I am in Chapter 4 of my story book. I hope to influence my philosophy of living a rich life freely and healthily with all of you. Embrace the future and empower freedom!
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