Asked 3w ago
After setting aside emergency funds, I pay <$500 for income tax. Please share rationale. Thank you very much!
If you do not do investment yourself and you know you never will, CPF SA.
SRS you must use the $$$ in account to invest else same as bank interest rate.
SRS you need to know (in case you dont know)
-you can only withdraw at 62 else 5% penalty charge
50% of withdrawal will be taxed (meaning can only withdraw $40k per year)
you must withdraw everything within 10years
You got other relief? NS, living with parent....?