You may have heard of the Supplementary Retirement Scheme (a.k.a. SRS). It is a deferred tax scheme to help you save more for your retirement and reduce your taxable income. It plays a complementary role to CPF Life for your retirement year. You can top up $15,300 if you are a Singaporean or PR and […]
Supplementary Retirement Scheme: All you need to know about SRS
Do you want to pay less income tax and save more for the future? If so, you should pay some attention to Supplementary Retirement Scheme (a.k.a. SRS). Unlike popular CPF retirement scheme, many people have not even heard of SRS. In this article, I will explain What is SRS and what are the benefits of SRS contribution How to make […]
2.25% Guaranteed Interest for Aviva’s 3-year Single Premium Endowment Plan (Eligible for SRS)
The single premium endowment plan has gained popularity over the recent years. With the successful launch of NTUC Income’s Capital Plus and China Taiping’s i-Save, Aviva decided to jump on the bandwagon by offering a similar three-year endowment plan called MySecureSaver. The plan offers 2.25% Guaranteed Interest per year for 3 years, which is higher than […]
Income Tax Relief: 4 Things You Must Do Now Before Year End
Getting started on your tax planning before the New Year begins can help you maximize tax relief and minimize tax payable next year. You may only count your tax relief in April when you declare your income tax. But there are 3 things you must do before the year winds down for more tax relief.
How to Invest Your SRS Account: The Complete Guide
Supplementary Retirement Scheme (a.k.a. SRS) is not strange to most Singaporeans. It is a deferred tax scheme which helps you save for the future while reducing your tax expenses now. If you are mid to high-income earners, SRS is a great way to save tax in addition to CPF top-up tax relief. For example, if […]