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SRS topups for tax relief a cash trap or retirement windfall?
sgbuffett

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#1

06-08-2022, 03:16 PM
https://endowus.com/insights/webinar-srs...t-windfall
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talky

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#2

06-08-2022, 03:37 PM
withdraw after 65 to beat the system
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Blasterlord2

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#3

06-08-2022, 03:57 PM
Why are foreigners allowed to top-up SRS more than citizens/PR?
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sgbuffett

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#4

06-08-2022, 04:04 PM
(06-08-2022, 03:57 PM)Blasterlord2 Wrote:  Why are foreigners allowed to top-up SRS more than citizens/PR?

SRS gives foreigners a way to pay less tax ...
It is a way to make Singapore more attractive to. Foreigners.

In your mind, you think why should foreigners be given a better deal....in the govt mind is how foreigners have to be attracted to Singapore.

In a recent debate Minster Ng said that new citizens around 20+-30+ are not suitable for NS. He forgot that Singaporeans do reservist until age 40. Can we declare ourselves unsuitable at age 30 and stop serving?

Such policies are not about being fair but are set to attract foreigners to grow the economy...and keep the population is an uptrend for growth.
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starbugs

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#5

06-08-2022, 04:07 PM
I already saved almost 10k in tax from SRS since it started. No brainer if SRS funds are used for stocks or REIT's. If leave in cash, of course it will be cash trap.
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sgbuffett

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#6

06-08-2022, 04:09 PM
(06-08-2022, 04:07 PM)starbugs Wrote:  I already saved almost 10k in tax from SRS since it started. No brainer if SRS funds are used for stocks or REIT's. If leave in cash, of course it will be cash trap.

Buy reits? If kena cash call and you max out the your topup and have no more cash in SRS then how?
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starbugs

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#7

06-08-2022, 04:13 PM
(06-08-2022, 04:09 PM)sgbuffett Wrote:  Buy reits? If kena cash call and you max out the your topup and have no more cash in SRS then how?

I usually top up SRS at year end so that I have contribution headroom in case there are rights. Besides, I don't use SRS for cash hungry REITs, so haven't had to use SRS for rights yet.
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