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Anonymous
1) I have not made any cpf/tax declaration before. As my annual income doesn’t exceed $21000, what contributions do I have to make after filling income tax?
2) If i declare myself as self employed, is the status reversible as I’m currently a student intending to pursue an employment in the future?
3) Lastly, will the self employed status affect considerations for subsidies and bursaries as I am currently on financial aid?
Thank you!
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Angeline Teo
01 May 2020
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Your income offically is under "Self Employed".
Once you filed an official income, you have to fulfill your CPF-Medisave contributions as a self employed.
Yes, status is reversible to be "unemployed" or "jobless".
You have to check the awarding bodies for subsidies and bursaries, different bodies have different standards. Most do look at household income of the family (not personal income as students usually don't have income)