SRS Portfolio

[ersatz]

Sibei song! No matter what I do, still pay more than 5 figure income tax each year. Really knn!

i feel your pain too.

 

[dry_county]

i feel your pain too.

Thank you for contributing to nation building…..

 

[elvintay07]

i feel your pain too.

Later ppl say we haolian.

 

[iceblendedchoc]

Not sure how ppl manage to get $80k relief. I didn’t managed to do it in my whole life. My salary low but my relief also buay kan la.

only working mothers can hit $80k easily.

 

[little pupsky]

i feel your pain too.

Per month?

 

[epigram]

tax more than normal salary

 

[ersatz]

Per month?

GIRO

 

[ersatz]

Later ppl say we haolian.

nothing to haolian. heart pain max.

 

[highsulphur]

GIRO

i think he was asking if that amount was the full amount or monthly amount

 

[ersatz]

i think he was asking if that amount was the full amount or monthly amount

yes. so my answer is GIRO

 

[elvintay07]

nothing to haolian. heart pain max.

Understand how u feel. In the end, no one thank u also la.

 

[WHLN17]

Why you start SRS so late?

Didn't earn much in the early part of the career. With higher income, started to run out of ideas how to save tax and also realised SRS can be another tool to retirement planning.

 

[WHLN17]

yes. so my answer is GIRO

GIRO can be one off too, don't have to be monthly.

 

[little pupsky]

GIRO can be one off too, don't have to be monthly.

Indeed. There was another cropped off shaded box to the right of the August box, so hmmmmmmm

 

[ersatz]

Aiyoh why would anyone pay tax by GIRO in a lump sum when you get interest free instalments?

 

[Okenba]

Woohoo! 750k++/annum.
Pls gib me som money $$$

 

[Okenba]

I'm actually curious about how ppl will prepare for SRS withdrawal.
Assuming your SRS is in equities, presumably you will move some to more stable investments before you hit 62 so that you won't be withdrawing your stocks in a downturn...

 

[dngth]

Instead of selling, u shld be able to transfer your SG stock in SRS to CDP. It will be deemed as withdrawal.

 

[WHLN17]

I'm actually curious about how ppl will prepare for SRS withdrawal.
Assuming your SRS is in equities, presumably you will move some to more stable investments before you hit 62 so that you won't be withdrawing your stocks in a downturn...

If moving the stocks from SRS to CDP, at the point of withdrawal, the relevant SRS operator/stock exchange will determine the 'value' of the equities and the 50% of the determined value will be subjected to tax. The treatment is akin to cash withdrawal. So if the transferred stocks price goes up, then ho sey, if after transfer the prices go down, then suay. Hard to manage it perfectly and I guess still have to keep the 10 years withdrawal limit in mind vis-a-vis the tax payable.

 

[Nofear40]

If moving the stocks from SRS to CDP, at the point of withdrawal, the relevant SRS operator/stock exchange will determine the 'value' of the equities and the 50% of the determined value will be subjected to tax. The treatment is akin to cash withdrawal. So if the transferred stocks price goes up, then ho sey, if after transfer the prices go down, then suay. Hard to manage it perfectly and I guess still have to keep the 10 years withdrawal limit in mind vis-a-vis the tax payable.

Is the withdrawal value for tax purposes on the original costs price or prevailing market rate?