facebookAt what salary range should I start putting money into SRS to use for investing instead of using cash savings to maximise tax reduction? - Seedly

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Anonymous

13 Jan 2021

Retirement

At what salary range should I start putting money into SRS to use for investing instead of using cash savings to maximise tax reduction?

How much should I be earning to use money in my SRS for investing?

SeedlyAMA Workforce Singapore

Discussion (3)

What are your thoughts?

Generally, at the 7% income tax bracket, ie $40k-$80k annual salary is when you can consider contributing. Below that it doesn’t really make sense.

At the 11.5% tax bracket i.e. $80k-$120k, I’d argue is when it almost certainly makes sense to contribute to SRS.

You can find the income tax brackets here: https://www.iras.gov.sg/irashome/Quick-Links/Ta...

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