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14-07-2014, 08:48 PM
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mid-30s couple
total income from work incl bonus + investments: 45k/mth
mortgage: 2k
parents: 1k
maid: 1k
utilities + maintainence: 250
No car. expense from public transport: 1k
Dining/entertainment/retail/insurance: 8k
Travel: ~500/month ave
Total expense: 13750 (31% of income)
Total savings per year: 375k
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14-07-2014, 09:00 PM
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What's your monthly income tax at? For 45K per month I would imagine it be substantial.
Quote:
Originally Posted by Unregistered
mid-30s couple
total income from work incl bonus + investments: 45k/mth
mortgage: 2k
parents: 1k
maid: 1k
utilities + maintainence: 250
No car. expense from public transport: 1k
Dining/entertainment/retail/insurance: 8k
Travel: ~500/month ave
Total expense: 13750 (31% of income)
Total savings per year: 375k
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14-07-2014, 10:03 PM
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Quote:
Originally Posted by Unregistered
What's your monthly income tax at? For 45K per month I would imagine it be substantial.
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It's combined income. There are ways to tax-plan. Furthermore, there are no capital gains tax from investment income via stocks/bonds/other public instruments.
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14-07-2014, 10:57 PM
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Don't mind me asking how much tax do you pay per month combined? I'm the poster above with the 2K tax payable per month. What portion of your combined income is taxable vs non taxable?
Except for capital gains on property and stocks I'm not aware of any other non taxable income? I could be mistaken on this please feel free to enlighten.
Quote:
Originally Posted by Unregistered
It's combined income. There are ways to tax-plan. Furthermore, there are no capital gains tax from investment income via stocks/bonds/other public instruments.
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14-07-2014, 11:48 PM
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Quote:
Originally Posted by Unregistered
Don't mind me asking how much tax do you pay per month combined? I'm the poster above with the 2K tax payable per month. What portion of your combined income is taxable vs non taxable?
Except for capital gains on property and stocks I'm not aware of any other non taxable income? I could be mistaken on this please feel free to enlighten.
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Below 4k/month.
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15-07-2014, 12:21 AM
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That's not too bad given your annual earning. You should factor that into your expenses though. Its almost 10% of monthly income which is a large portion of expense.
Quote:
Originally Posted by Unregistered
Below 4k/month.
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15-07-2014, 09:41 AM
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Millionaire Member
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Join Date: Sep 2011
Posts: 275
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Quote:
Originally Posted by Unregistered
It's combined income. There are ways to tax-plan. Furthermore, there are no capital gains tax from investment income via stocks/bonds/other public instruments.
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The poster's income is an aggregate. Income taxed under his wife may enjoy certain breaks relating to children etc.
One can also increase tax efficiency by structuring your compensation arrangement with your employer. If you "work" for your boss as your own company, you can also reduce your tax burden. 
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15-10-2014, 03:32 PM
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Singapore PR
Software Engineer - 5 years experience
Income perannum - ~S$60,000 (S$4300 permonth + 2 month bonus)
Expenses:
Food and grocery - S$400
Phone and internet - S$70
Electricity - S$100
Donation - S$40
Transport - S$100
Parents' allowance (Dad, Mom, step-mum) - S$1000
Total expenses around S$1800 per-month.
No rent as I live in my relative's apartment
Hence saving around S$2500 permonth
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15-10-2014, 06:48 PM
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27 yo, single
800 cpf
2000 savinga
50 insurance
30+ phone bill
1000+ allocated to food/transport/entertainment (with surplus leftover each mth)
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18-10-2014, 10:49 AM
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Me, wife and 2 kids (1 with autism)
Expenditure
Monthly recurring $8530 x 12 = 102k
Lumpy annual expenditure $47k
Savings (incl employer CPF) $135k
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