SRS scheme allows you some Income Tax relief

[UltimaOnline]

SRS (Supplementary Retirement Scheme) is similar to CPF in it's purpose, but is voluntary, and allows you to pay less income tax as follows :
http://www.iras.gov.sg/irasHome/page04.aspx?id=1168

To qualify for Tax Assessment 2012, you need to make your SRS contribution (to DBS, OCBC, or UOB) by 31 Dec 2012. For those who pay high income taxes, SRS is worth considering.

What do you think about this?

 

[UltimaOnline]

Found an article which cautions "What's NOT good about SRS".
http://www.salary.sg/2009/whats-not-good-about-supplementary-retirement-scheme-srs/

 

[Bigfuck]

Dream long long. Leegime has calculated to suck this generation dry and use the previous generation wealth to give you as your family funded welfare. Your kids will suffer. That is how the maths is and the bank accounts are. The only way is to depose the corrupt who easily worth 10s of millions upwards. Just wait, it is that close.

 

[mojito]

Good if you are a PR getting ready to balik kampung in a few years time. Another tax evasion scheme favourable to foreigners!

 

[laksaboy]

Once again, the PAP is profiteering from daft Sinkies.

There is the concept of 'time value of money', which many daft Sinkies are totally oblivious to.

The PAP govt depends on this ignorance to milk money from the masses.

If you want to cut taxes or give tax rebates, do it with no strings attached.

 

[Leongsam]

What do you think about this?

If you want to save on taxes, there's nothing better than moving from the employee category to the employer ranks and starting your own enterprise.

The tax department then has the last bite of your pie instead of the first bite.

 

[Leongsam]

There is the concept of 'time value of money', which many daft Sinkies are totally oblivious to.

Tell me about it. I'm continually being asked whether $xxxxxx is sufficient to for retirement. The response is always "when are you retiring?.... now or in 20 years time?".

 

[johnny333]

Is this scheme CPF ver 2.XX

The problem is that the PAP is too free to think about new schemes to to rob the lesser mortals:( We need more opposition in there to keep them busy.

 

[giggity_shit]

SRS (Supplementary Retirement Scheme) is similar to CPF in it's purpose, but is voluntary, and allows you to pay less income tax as follows :
http://www.iras.gov.sg/irasHome/page04.aspx?id=1168

To qualify for Tax Assessment 2012, you need to make your SRS contribution (to DBS, OCBC, or UOB) by 31 Dec 2012. For those who pay high income taxes, SRS is worth considering.

What do you think about this?

You must be damn rich to even consider this.

 

[batman1]

Before u think of getting any tax relief they already suck and detain your CPF money until 65, provided u are still alive.

 

[halsey02]

Before u think of getting any tax relief they already suck and detain your CPF money until 65, provided u are still alive.

It is like you give $50 to get $300, you will never get to see that $50 again, maybe after 95?? the next bar..