Anonymous

Edited 27 Aug 2022

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Hello all, should I do a RTSU to Full Retirement Sum or let it accumulate to FRS over next 2 to 3 years with each year only topping up 8k to earn tax relief at 11.5% tax bracket? Thank you.

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Ace

02 Sep 2022

If you do not need the liquidity, better to top up MA and then SA to FRS w $8K yearly. The earlier / younger reach FRS better... it's a safety net in my opinion.

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KA

29 Aug 2022

Yes as $8000 RTSU would provide you with:

1) $920 saving on tax

2) $320 interest earned yearly

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Just_Saying

29 Aug 2022

Top up to enjoy relief....

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After selling property that was pledged for the Basic Retirement Sum, would one be asked to top up to Full Retirement Sum if the intention to buy the next property happens only 2 years later?

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Related Posts

After selling property that was pledged for the Basic Retirement Sum, would one be asked to top up to Full Retirement Sum if the intention to buy the next property happens only 2 years later?

If my SA account has reached FRS balance (181k for this year). For tax relief next year, should I top up cash $7K to SA or OA by Dec 2020 or Jan 2021?

Whats your thoughts on transferring from OA to SA to let SA compound vs don't transfer but top up 7k to SA per year to enjoy tax relief 7% till FRS. Which option has more value?

If I have topped up 7k for RSTU early this Jan and then after I do a transfer from OA to SA to reach FRS, will there still be a tax relief of 7k next year, 2022?

Will the BRS (basic retirement sum) and FRS (full retirement sum) keep increasing as we age and hit the 55 year old mark? What will be a good number to predict?