DBS changed its Mutiplier plan

[reddevil0728]

Not sure has anyone realized. For the category of Income, it can be salary, dividend from SSB and even CPF Life payout.

Yes been like that for sometime. Can be dividend not just for SSB

 

[marshmallow96]

Just asked my RM. Yup by right cannot casa + multiplier. 4.5%+1.38%. (i also got dbs treasury promo, +0.4%). However as an exception, the RM allows me to join. Just fill up a form, send to RM, will apply for me without visting the branch .

thanks for the update... lemme try my RM and see how...

this multiplier+casa promo has been around for a few months already... your RM is newbie or just ignorant siah?

or he wants to jiak commission so gets you to apply through him or something.

I think he is referring to the DBS Treasure promo with Multiplier which has a clause that says cannot stack with other promo, hence there have been some doubts recently on whether casa can be added after taking up the Treasure promo

 

[DevilPlate]

Ya man.. 4.5%+1.38% for $200k at current low bank interest environment.

Wah lau u talk like machiam so easy to clock 30k tx every mth. (Other than self manufacture salary)

I also unwilling to redeem 30k of my SSB (lock in at 3%+) to recycle into 1.8% ones

 

[orlengtao]

Wah lau u talk like machiam so easy to clock 30k tx every mth. (Other than self manufacture salary)

I also unwilling to redeem 30k of my SSB (lock in at 3%+) to recycle into 1.8% ones

Agree, ssb cannot redeem. We all know dbs multiplier will go down one day, ssb will stay for the full 10 years

 

[sglandscape]

Wah lau u talk like machiam so easy to clock 30k tx every mth. (Other than self manufacture salary)

I also unwilling to redeem 30k of my SSB (lock in at 3%+) to recycle into 1.8% ones

Can always buy/sell unit trust to clock also what.

 

[DevilPlate]

Can always buy/sell unit trust to clock also what.

Prolly safest way via saveup digiportfolio (less likely to incur losses and no sales charge)
Which is what im doing rn.

Suay suay interest rate spike up then hold longer till breakeven and perhaps shift funds elsewhere giving 3-4%

 

[sglandscape]

Prolly safest way via saveup digiportfolio (less likely to incur losses and no sales charge)
Which is what im doing rn.

Suay suay interest rate spike up then hold longer till breakeven and perhaps shift funds elsewhere giving 3-4%

Yup choose your preferred poison

 

[devion]

Is the treasures promo still available? How do we contact the RM if want to join treasures? Is it via the website chat?

 

[sglandscape]

Is the treasures promo still available? How do we contact the RM if want to join treasures? Is it via the website chat?

Over already I thought, recall was in September

 

[Froggyman]

Wah lau u talk like machiam so easy to clock 30k tx every mth. (Other than self manufacture salary)

I also unwilling to redeem 30k of my SSB (lock in at 3%+) to recycle into 1.8% ones

Hmm.. I just quote his post in which he mentioned 4.5%+1.38%… no reason for me to doubt that he cannot achieved the requirements. My post is more to echo that his RM has helped him to get a good deal.

 

[DevilPlate]

Is the treasures promo still available? How do we contact the RM if want to join treasures? Is it via the website chat?

I believe purely by invitation….

Cannot ask for it one….


Can join Treasures anytime but no such promo open to everyone

 

[camholicx]

can share what insurance and investment, u guys buy for the Mulitplier account?

 

[camholicx]

If i transfer $30k as salary from other bank to DBS mulitplier. Will I kena income tax as high income of 30k?

 

[reddevil0728]

If i transfer $30k as salary from other bank to DBS mulitplier. Will I kena income tax as high income of 30k?

The substance behind the 30k is what matters

not the form

 

[DevilPlate]

No. The tagging is for bank's own internal records and not shared with IRAS. People have been doing this with UOB ONE for a long time and no tax implications.

If anything you can think of it this way as well. Yes, you receive $30k as personal salary, but your sole proprietorship (yourself) also incurs $30k of salary cost, so net trade income is $0.

Imo self manufacture 1.6k (UOB) vs 30k got huge difference.
DBS system may flag it if they deem fit?

 

[RedsYWNA]

Best to keep the salary discussions discreet, guys!

 

[DevilPlate]

If i transfer $30k as salary from other bank to DBS mulitplier. Will I kena income tax as high income of 30k?

I don’t think anyone here can guarantee anything.

If scared/uncomfortable (like me), then try other means or be contented with 2.1-2.4%

 

[royalmix]

If anything you can think of it this way as well. Yes, you receive $30k as personal salary, but your sole proprietorship (yourself) also incurs $30k of salary cost, so net trade income is $0.

This is rubbish under Income tax reporting for SoleProprietorship!

Admin should delete all fake information on this topic!

If i transfer $30k as salary from other bank to DBS mulitplier. Will I kena income tax as high income of 30k?

 

[itchying]

If i transfer $30k as salary from other bank to DBS mulitplier. Will I kena income tax as high income of 30k?

I think ultimately govt is to catch those who under declared. U can always show proof explain to them it is yr own transfer not income if u r flagged.

 

[RedsYWNA]

If you guys are so concerned about tax, i can ask the IRAS commissioner when I meet him in late Nov, but as I said earlier, it's best to keep the salary discussions discreet.

The Multiplier has a table indicator to show if the experiments are successful. Perhaps can try that on your own.