SRS Portfolio

[spearhawk]

quick qns, can we link SRS account to multiple brokers or only to one?

my SRS is with OCBC, but thinking to link to both DBS Vickers and POEMS to do either non-custodian or custodian trades.

 

[demoforce1]

quick qns, can we link SRS account to multiple brokers or only to one?

my SRS is with OCBC, but thinking to link to both DBS Vickers and POEMS to do either non-custodian or custodian trades.

yes, can be any broker

 

[spearhawk]

yes, can be any broker

but can link multiple brokers at the same time?

 

[kickass22]

but can link multiple brokers at the same time?

Yes You can. It does not matter which broker. You just got to choose you want to pay using SRS.
That has been my experience.

 

[Ginnylim07]

Hi a quick check
If wan to top up ocbc srs for tax relief, isit latest by 30 or 31 Dec?

 

[Kojo0403]

probably a little late to reply now but it should be 31-dec.

not sure if all agent bank can process it same day. so probably do it on 30-dec to be safe

 

[WHLN17]

There is a high chance that my SRS investment will exceed 400k in value when I reach the penalty free withdrawal age. By then, I intend to transfer the SRS investment to CDP account. I understand that such 'withdrawal' also subject to 50% tax based on the value of the investment. To avoid the tax, anyone know whether we can phase out the transferring of SRS investment to CDP account over 10 years, just like withdrawing of SRS cash?

 

[Kojo0403]

There is a high chance that my SRS investment will exceed 400k in value when I reach the penalty free withdrawal age. By then, I intend to transfer the SRS investment to CDP account. I understand that such 'withdrawal' also subject to 50% tax based on the value of the investment. To avoid the tax, anyone know whether we can phase out the transferring of SRS investment to CDP account over 10 years, just like withdrawing of SRS cash?

never thought of this problem..
are you obliged to transfer everything to cdp at one go?

 

[BBCWatcher]

There is a high chance that my SRS investment will exceed 400k in value when I reach the penalty free withdrawal age. By then, I intend to transfer the SRS investment to CDP account. I understand that such 'withdrawal' also subject to 50% tax based on the value of the investment. To avoid the tax, anyone know whether we can phase out the transferring of SRS investment to CDP account over 10 years, just like withdrawing of SRS cash?

It'll depend on the investment, specifically whether it has separable units. For example, if you have 10,000 shares of DBS stock you should be able to transfer 1,000 shares at a time from your SRS account to your CDP account. As another example if you have a typical S$250,000 (face value) corporate bond then (if you want to transfer the bond) it'll need to be all or nothing since S$250,000 is a single unit.

Note that some investment programs for SRS accounts do not allow in-kind transfers. OCBC's so-called "Blue Chip Investment Plan" is one such example. You can invest SRS dollars via the BCIP, but the BCIP simply doesn't allow in-kind transfers whether you're using SRS dollars or unrestricted cash.

 

[WHLN17]

never thought of this problem..
are you obliged to transfer everything to cdp at one go?

That's why I am asking lor

 

[WHLN17]

It'll depend on the investment, specifically whether it has separable units. For example, if you have 10,000 shares of DBS stock you should be able to transfer 1,000 shares at a time from your SRS account to your CDP account. As another example if you have a typical S$250,000 (face value) corporate bond then (if you want to transfer the bond) it'll need to be all or nothing since S$250,000 is a single unit.

Note that some investment programs for SRS accounts do not allow in-kind transfers. OCBC's so-called "Blue Chip Investment Plan" is one such example. You can invest SRS dollars via the BCIP, but the BCIP simply doesn't allow in-kind transfers whether you're using SRS dollars or unrestricted cash.

Thanks. Then I should be able to transfer equivalent max value 40k per year of shares to CDP, since the lot size of the shares is 100. It's a happy 'problem' if SRS is above 400k but must keep an eyes on it. The reason for SRS is to save taxes if somehow ended up have to pay high taxes in the end then not worth it.

 

[reddevil0728]

Thanks. Then I should be able to transfer equivalent max value 40k per year of shares to CDP, since the lot size of the shares is 100. It's a happy 'problem' if SRS is above 400k but must keep an eyes on it. The reason for SRS is to save taxes if somehow ended up have to pay high taxes in the end then not worth it.

yep. that's why must have a plan

 

[rizhal]

anyone has transferred cash successfully to SRS account in OCBC already ?

There is a message in OCBC internet banking advising to start doing it from 2nd part of January onwards as the system is doing refresh now.

low priority for me.
just checking any experience now

I have relatively low cash fund in ocbc, so not hitting ocbc top interest bracket now, thinking might as well send to SRS and then tbill.

 

[donnygg]

If I use both poems and fsmone to buy stocks with SRS, can I sell stocks bought from poems with fsmone and vice versa? I remember someone here saying you have to go back to the same broker to sell SRS stocks. That doesn't quite make sense since the stocks are held with the bank linked to the SRS?

 

[xorionn]

Which bank best for SRS fixed Deposit

 

[WHLN17]

If I use both poems and fsmone to buy stocks with SRS, can I sell stocks bought from poems with fsmone and vice versa? I remember someone here saying you have to go back to the same broker to sell SRS stocks. That doesn't quite make sense since the stocks are held with the bank linked to the SRS?

Not sure about FSMONE but I have bought with POEMS and DBSVICKER and I can sell it with either one.

 

[Sausage]

is anyone using srs to buy tbills?


Read HWZ Forum Rules!

 

[Vincent_G]

is anyone using srs to buy tbills?


Read HWZ Forum Rules!

Yes, i did.

 

[yesaka]

if i sell some funds in my srs, is it considered withdrawal and will i pay the penalty/ tax for withdrawal ?? as i m considering another fund, and it might be lag of 1- 2 weeks before i invest the funds. thanks

 

[reddevil0728]

if i sell some funds in my srs, is it considered withdrawal and will i pay the penalty/ tax for withdrawal ?? as i m considering another fund, and it might be lag of 1- 2 weeks before i invest the funds. thanks

When you sell the funds it goes where? Your SRS or your normal bank account?

you should be able to figure