facebookI pay about 100 in income taxes each year. Is it worth it for me to open an SRS account? Can I instead of paying taxes use the tax to pay my SRS account? - Seedly

Advertisement

Anonymous

18 Apr 2019

Saving Hacks

I pay about 100 in income taxes each year. Is it worth it for me to open an SRS account? Can I instead of paying taxes use the tax to pay my SRS account?

Discussion (4)

What are your thoughts?

Learn how to style your text

Not worth.

But you can lock the retire age by top up as small amount as 1 dollar

View 1 replies

Loh Tat Tian

21 Nov 2018

Founder at PolicyWoke (We Buy Insurance Policies)

Tax Relief, just mean reduction of assessable income. It is not a tax rebate.

If you pay $100 to your SRS, you only reduce your tax by $2. This is because your income tax rate is only 2%.

Did u mean u paid $100 for each tax year? That means your taxable income is $25,000. You will need t...

Write your thoughts

Advertisement