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

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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 (3)

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Not worth.

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

Loh Tat Tian

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...

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