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Re: Tax Savings in Singapore

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For expats, SRS is not a complete no-brainer, even for someone in the 19.5% tax bracket. Assuming you don’t take up PR and withdraw after 10 years without penalty… if you have left Singapore by then, you’ll pay 50% of the non-resident rate or the resident rate, whichever is higher. Consider too, that SRS is restricted to local investments, which can involve higher fees that compound and eat up those tax savings (versus investing outside SRS). In the end, you might not save enough to bother with.

Then again, some people who don’t have good savings discipline prefer these types of accounts to keep themselves from spending it, so it’s not all dollars and sense.
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You can buy SPY using SRS money. The one that is listed in SGX as S27. That's not a bad investment to buy and hold. Expense ratio of 0.09% - not too shabby I'd say. There are other .....

Posted in Financial Investment

Re: Tax Savings in Singapore

❰❰ Quote:
For expats, SRS is not a complete no-brainer, even for someone in the 19.5% tax bracket. Assuming you don’t take up PR and withdraw after 10 years without penalty… if you have left Singapore by then, you’ll pay 50% of the non-resident rate or the resident rate, whichever is higher. Consider too, that SRS is restricted to local investments, which can involve higher fees that compound and eat up those tax savings (versus investing outside SRS). In the end, you might not save enough to bother with.

Then again, some people who don’t have good savings discipline prefer these types of accounts to keep themselves from spending it, so it’s not all dollars and sense.
❱❱
You can buy SPY using SRS money. The one that is listed in SGX as S27. That's not a bad investment to buy and hold. Expense ratio of 0.09% - not too shabby I'd say. There are other considerations too before someone jumps onto the SRS bandwagon .....

Posted in Financial Investment

Re: LTVP credit card application always denied

If you had a passport renewal and the number changed, Singapore credit bureau does not automatically link your old credit history under your old passport to your new one. You have to contact them and provide scanned copies of your new and old passport - only then they can combine it all together.

I have been through 3 passports here and all the while on EP. I only realized this was happening on my 3rd passport, so I contacted them and got all 3 passport’s credit history combined… since then I was amazed at how easy and how high of a credit limit I was given.

Posted in Credit Card & Banking in Singapore

Re: Tax Savings in Singapore

For expats, SRS is not a complete no-brainer, even for someone in the 19.5% tax bracket. Assuming you don’t take up PR and withdraw after 10 years without penalty… if you have left Singapore by then, you’ll pay 50% of the non-resident rate or the resident rate, whichever is higher. Consider too, that SRS is restricted to local investments, which can involve higher fees that compound and eat up those tax savings (versus investing outside SRS). In the end, you might not save enough to bother with.

Then again, some people who don’t have good savings discipline prefer these types of accounts to keep themselves from spending it, so it’s not all dollars and sense.

Posted in Financial Investment

Re: Rents are peaking!

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Updated...

30/9/2023- 32,100
7/10/2023 - 33,200
14/10/2023 - 33,900
21/10/2023- 34,700
28/10/2023- 35,100

Still going up. The last time there werre 35,000 listings was early 2019...
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November surge!

4/11/2023 - 35,900 800
11/11/2023 - 37,000
18/11/2023 - 37,600
25/11/2023- 38,100
2/12/2023 - 38,300

Posted in Property Talk, Housing & Rental