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  #8623 (permalink)  
Old 02-10-2015, 10:51 AM
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Default Income Tax

I have yet to come across any post on the income tax that people pay, only on claims of their incomes (whether salary or passive).

I have been paying above $20k pa income tax since 2011. Last year, it rose to $26K+. As it is quite substantial (at least to me), I opted for monthly deduction of $2.2k.

It eats up quite a bit of my passive income.

So when I retire, this amount ($26K pa) will be the immediate savings.

Anyone has similar experience? How to minimise the income tax?

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