View Full Version : Top up SA, SRS to save $$
A few more weeks to end of 2012! Remember to topup your SA $7000 (new ruling, limits raised as no longer considr OA), topup SRS $12750. If your tax rate is 15%, already save close to $3000 in tax!! Free trip to HK for family!
Got money go and borrow more, no money save more.
Can never out save the Fed.
http://www.huffingtonpost.com/huff-wires/20121211/us-federal-reserve/?utm_hp_ref=green&ir=green
On Tuesday, the Fed began a two-day meeting, which will end Wednesday afternoon with a statement announcing its policy decisions. Afterward, the Fed will update its forecasts for the economy, and Chairman Ben Bernanke will hold a news conference.
The expectation is that the Fed will unveil a program to buy $45 billion a month in long-term Treasurys. This would replace an expiring program called Operation Twist. With Twist, the Fed sold $45 billion a month in short-term Treasurys and used the proceeds to buy the same amount in longer-term Treasurys.
Twist didn't expand the Fed's investment portfolio; it just reshuffled the holdings. But the Fed has run out of short-term securities to sell. So to maintain its pace of long-term Treasury purchases and help keep long-term rates low, it must spend more and increase its portfolio.
The new bond purchase plan would join a program announced in September. Under that program, the Fed is buying $40 billion a month in mortgage bonds to try to force already record-low home-loan rates lower to encourage home buying. The total Fed bond purchases from the two programs would remain $85 billion.
85 of this a month. One year 85x12=1020 Billion=1.02Trillion
http://michcommunication.files.wordpress.com/2012/06/one_billion_dollars.jpg
A few more weeks to end of 2012! Remember to topup your SA $7000 (new ruling, limits raised as no longer considr OA), topup SRS $12750. If your tax rate is 15%, already save close to $3000 in tax!! Free trip to HK for family!
Top up SA also got tax relief meh?
Top up SA also got tax relief meh?
Can, but not via transfering from OA to SA. Need cash topup.
http://iras.gov.sg/irasHome/page04_ektid196.aspx
buttercarp
12-12-12, 07:20
A few more weeks to end of 2012! Remember to topup your SA $7000 (new ruling, limits raised as no longer considr OA), topup SRS $12750. If your tax rate is 15%, already save close to $3000 in tax!! Free trip to HK for family!
Where you get this info, how come I dunno?
Please share the website.
TIA :) .
Where you get this info, how come I dunno?
Please share the website.
TIA :) .
lol!
he mean the $3k can be use to 'sponsor' your family for next trip to hk :D
btw,
buttercarp
12-12-12, 07:34
lol!
he mean the $3k can be use to 'sponsor' your family for next trip to hk :D
btw,
LOL.....
Thanks.
I tot I missed out on something :ashamed1: .
Does it has an effect on SOR? It has dropped since last friday.
Got money go and borrow more, no money save more.
Can never out save the Fed.
http://www.huffingtonpost.com/huff-wires/20121211/us-federal-reserve/?utm_hp_ref=green&ir=green
On Tuesday, the Fed began a two-day meeting, which will end Wednesday afternoon with a statement announcing its policy decisions. Afterward, the Fed will update its forecasts for the economy, and Chairman Ben Bernanke will hold a news conference.
The expectation is that the Fed will unveil a program to buy $45 billion a month in long-term Treasurys. This would replace an expiring program called Operation Twist. With Twist, the Fed sold $45 billion a month in short-term Treasurys and used the proceeds to buy the same amount in longer-term Treasurys.
Twist didn't expand the Fed's investment portfolio; it just reshuffled the holdings. But the Fed has run out of short-term securities to sell. So to maintain its pace of long-term Treasury purchases and help keep long-term rates low, it must spend more and increase its portfolio.
The new bond purchase plan would join a program announced in September. Under that program, the Fed is buying $40 billion a month in mortgage bonds to try to force already record-low home-loan rates lower to encourage home buying. The total Fed bond purchases from the two programs would remain $85 billion.
85 of this a month. One year 85x12=1020 Billion=1.02Trillion
http://michcommunication.files.wordpress.com/2012/06/one_billion_dollars.jpg
A few more weeks to end of 2012! Remember to topup your SA $7000 (new ruling, limits raised as no longer considr OA), topup SRS $12750. If your tax rate is 15%, already save close to $3000 in tax!! Free trip to HK for family!
Can withdraw money anytime from SRS but not SA rite?
What happened to topping up parents' SA for tax relief? Has that been scrapped?
phantom_opera
12-12-12, 08:31
$3k is peanut if compared to lost opportunity cost ...
Can withdraw money anytime from SRS but not SA rite?
SA can withdraw if return nric :tongue3:
buttercarp
12-12-12, 08:53
What happened to topping up parents' SA for tax relief? Has that been scrapped?
Still got, but parents' annual income must not exceed $4k per annum.
http://mycpf.cpf.gov.sg/Members/Top-Up_LO.htm
Still got, but parents' annual income must not exceed $4k per annum.
http://mycpf.cpf.gov.sg/Members/Top-Up_LO.htm
wah piang..
what type of job pay $4k/year?
Tks. Think topping up parents don't need 4k.. its the spouse and siblings that has the max 4k requirement.
Sigh.. whatever you make in rental all goes back to gahmen in terms of tax... prop tax, income tax else its to pay agents' fees....
buttercarp
12-12-12, 08:57
wah piang..
what type of job pay $4k/year?
Yalor, cleaner also get more than that.
Maybe part time cleaner?
Part time baby sitter?
wah piang..
what type of job pay $4k/year?
retirement job with some dividend income lah. plus allowance from kids not taxable. :D
Powered by vBulletin® Version 4.2.2 Copyright © 2024 vBulletin Solutions, Inc. All rights reserved.