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Anonymous

27 Dec 2021

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Invest in stablecoins to grow money but unsure of the tax

Hi, I'm beginner in investing and would like to try stablecoins through Hodlnaut. However, I'm not sure how to declare the tax or how much tax I need to pay for my gain of money. Anybody could help me with this?

Thanks

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saylavee

27 Dec 2021

Nope no stock/crypto taxes for now. If you want a higher return, use anchor protocol

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Not a financial advisor

Edited 27 Dec 2021

Don’t need declare i think?

Remember to use gemini to buy dai/usdc/ btc or eth and send to hodlnaut, can save the gas fee

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I am working for around a yr and is using the Multiplier account to grow my money. Looking towards investments to grow my money - Digiportfolio or Invest Saver or keep all in Multiplier account?

My current main investment mode is monthly investment plan in STI ETF. Topping up CPF SA seems likes an attractive option at 4% p.a. and tax relief. Is there ever a possibility of losing CPF money?

What is the best basic/starter/beginner investment tool to use? Should go with low, medium or high-risk for now? Would an investment tool or a fixed insurance savings plan be better to grow money?

About to enter uni in Aug, was thinking to start growing money earlier in life, I was thinking if investing $100 in StashAway and $100 in POSB InvestSaver monthly is a good choice and increasing it further when I start earning money when I graduate.?

Understand that there is tax relief for the amount I contribute to the SRS. But if the money is being used to invest, the SRS would not show the amount. Does tax relief apply?

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