Compare Your Household Income 2009

[davidtan]

Originally Posted by Husky

I am talking about combined income for households applying for flat. The current ceiling if 8K combined household income which I feel is a bit on the low side given that more than 30% of households are earning more than 8k.

My fiancee and I fall into the 8-10k income range. Under current regulations we are not able to apply for new flats. However if you do the maths, going private is a bit of a stretch. Hence my fustration.

Originally Posted by John

Assuming no bonus, a 4k monthly (hence 48k annual) will put the person at "higher than 45.8% of all resident taxpayers."

So if both husband and wife make 4k, there are more than 50% households earning more than 8k. And I think the Iras data (and the above mentioned comparison tool) does not even include the people earning below 20k/year.

John and Husky, you may have made a mistake. I'm not sure about the tool that compares household income, but the tool that compares annual income actually took data from IRAS and only included people who earned more than 20k pa. If the tool says you're "higher than 45.8%", you are only higher than 45.8% in that group. If you include all those who earned below 20k and all those who did not even file income tax, the figure will be more than 45.8%, which means much lesser than 50% households (as you claimed) earn more than 8k. I suspect at 8k, the husband and wife may stand at around 70-80% of all people in Singapore.

[Husky]

Hi David,

very good point. I did recall HDB saying the percentage of households earning more that 8k (in 2008) is at 20%. According to them MAJORITY (80%) of households are still eligible for HDB loans. Hence there is no need to review the income celiing which was last changed in 1999.

Back in 1999, the percentage of households with income more than 8k was at 10%. If we look at it from another angle, the proportion of people INELIGIBLE for HDB loans has DOUBLED from 10% to 20%. Hence I believe I still have a strong case to argue for.

Nevertheless, very good point. Something to take note of if I am going to write in to HDB.

Originally Posted by davidtan

John and Husky, you may have made a mistake. I'm not sure about the tool that compares household income, but the tool that compares annual income actually took data from IRAS and only included people who earned more than 20k pa. If the tool says you're "higher than 45.8%", you are only higher than 45.8% in that group. If you include all those who earned below 20k and all those who did not even file income tax, the figure will be more than 45.8%, which means much lesser than 50% households (as you claimed) earn more than 8k. I suspect at 8k, the husband and wife may stand at around 70-80% of all people in Singapore.

[quek]

Originally Posted by davidtan

John and Husky, you may have made a mistake. I'm not sure about the tool that compares household income, but the tool that compares annual income actually took data from IRAS and only included people who earned more than 20k pa. If the tool says you're "higher than 45.8%", you are only higher than 45.8% in that group. If you include all those who earned below 20k and all those who did not even file income tax, the figure will be more than 45.8%, which means much lesser than 50% households (as you claimed) earn more than 8k. I suspect at 8k, the husband and wife may stand at around 70-80% of all people in Singapore.

I remember reading somewhere that a majority of the working population do not pay taxes, so yes, 70-80% may be a good estimate. I hope to see official figures though.

A NUS Master degree holder (Engineering) with 7 years exp, basic monthly pay $3000 , How you rate this ?

$3k is very low for someone with 7 years experience. A cab driver earns more.

You all talking about 100K, 200K…etc., but when we look in to the job websites the pay offer for most of the job is below 4K (not for mangers).

And you check Jobstreet salary report, the salary for most of the engineers are 3K to 3.8 K only. they come out those salary figures from their own data base which is key in by every job seekers, this should be quiet accurate also.

Then how you guys talking about 100K so easily ??

When the job market is better, you should try to jump every 2 years. Jump to MNCs.

[Husky]

Originally Posted by Z--

You all talking about 100K, 200K…etc., but when we look in to the job websites the pay offer for most of the job is below 4K (not for mangers).

And you check Jobstreet salary report, the salary for most of the engineers are 3K to 3.8 K only. they come out those salary figures from their own data base which is key in by every job seekers, this should be quiet accurate also.

Then how you guys talking about 100K so easily ??

I believe the data is skewed... Most engineers I know with a local degree (NUS/NTU) and say 5 years exp are getting about $3.5-4?

3K pm? Isnt that what the Govt is paying fresh grads with a good honours?

[Husky]

Originally Posted by meng

3K pm? Isnt that what the Govt is paying fresh grads with a good honours?

Imagine this hypothetical scenario,

Graduating with a honours degree from NUS in 2004. Lands a job paying $2.5k.(mean starting salary of graduates in 2004)

Over the years, annual increment of 5-10% yearly. Ends up at about $3500 in early 2009. Company announces pay cut of 10% in Mar 2009, back to $3150?