How much is your annual passive income?

Originally Posted by Unregistered

hi all... is advertising income from internet blogs considered as passive income?

Yes. Unless you spend all day doing it as a job.

Originally Posted by Unregistered

yes agree... $25k out my annual income in excess of $320k is not so much.... but i just asking if there are ways to further minimize it.. any general ideas?

To arrive at $25k tax, the chargeable income will be around $220K.
To arrive at a chargeable income of $220k from annual income in excess of $320k, then your deductibles will be in excess of $100k... how many schooling kids do you have, mummy?

Originally Posted by Unregistered

I am surprise in this day & age still got ppl get excited over 200k+ pay. It is very common, those with proper qualification and cannot even reach this level by 40 should learn & improve themselves instead of jealous and calling people names.

Very common? I'm guessing you must be one of them right?

Originally Posted by Unregistered

To arrive at $25k tax, the chargeable income will be around $220K.
To arrive at a chargeable income of $220k from annual income in excess of $320k, then your deductibles will be in excess of $100k... how many schooling kids do you have, mummy?

Deductibles are capped at $80k?

Anyhow, I think we should look at it from the perspective that we have to pay such high taxes because we are earning a good income. My wife and I have been paying $40k (combined) in taxes annually. Yes, admittedly it is painful to see this amount going out and not spent on some purchases or holidays. Since we cannot minimise the income tax we pay, short of earning less or contributing significantly to charity, we invest for passive income. As of last year, our passive income was sufficient to cover our annual expenses including the $40k income tax!

We are now practically saving our full salary each year.

[lazyplane]

Deductibles are capped at $80k only for next FY (ie 2017 income earned)
I guess if u r earning so much, this doesnt matter much lah.

Originally Posted by Unregistered

Deductibles are capped at $80k?

Anyhow, I think we should look at it from the perspective that we have to pay such high taxes because we are earning a good income. My wife and I have been paying $40k (combined) in taxes annually. Yes, admittedly it is painful to see this amount going out and not spent on some purchases or holidays. Since we cannot minimise the income tax we pay, short of earning less or contributing significantly to charity, we invest for passive income. As of last year, our passive income was sufficient to cover our annual expenses including the $40k income tax!

We are now practically saving our full salary each year.

Originally Posted by Unregistered

Deductibles are capped at $80k?

Anyhow, I think we should look at it from the perspective that we have to pay such high taxes because we are earning a good income. My wife and I have been paying $40k (combined) in taxes annually. Yes, admittedly it is painful to see this amount going out and not spent on some purchases or holidays. Since we cannot minimise the income tax we pay, short of earning less or contributing significantly to charity, we invest for passive income. As of last year, our passive income was sufficient to cover our annual expenses including the $40k income tax!

We are now practically saving our full salary each year.

Very impressive. My passive income is just sufficient to cover my annual expenses excluding income tax. I reckon that I can retire, since I will not be paying income tax when I retire. But am still working to build up a bigger buffer.

Originally Posted by Unregistered

Deductibles are capped at $80k?

Anyhow, I think we should look at it from the perspective that we have to pay such high taxes because we are earning a good income. My wife and I have been paying $40k (combined) in taxes annually. Yes, admittedly it is painful to see this amount going out and not spent on some purchases or holidays. Since we cannot minimise the income tax we pay, short of earning less or contributing significantly to charity, we invest for passive income. As of last year, our passive income was sufficient to cover our annual expenses including the $40k income tax!

We are now practically saving our full salary each year.

Come on this is salary forum. By default, Everybody will claim 100million dollars sgd passive income, have two bungalows fully paid up, three dogs, four maids, five roll royces, six kids all graduated from the best us universities, and perhaps one kid is a Nobel prize winner

Originally Posted by Unregistered

Come on this is salary forum. By default, Everybody will claim 100million dollars sgd passive income, have two bungalows fully paid up, three dogs, four maids, five roll royces, six kids all graduated from the best us universities, and perhaps one kid is a Nobel prize winner

So far, you are the first poster with such outlandish claims!

Singaporean standard one, always blow own trumpet.
Money alot, still not enough, house also too big, etcs...if can, lp also dua dua.

That's why the best way to shame a person is to bring up the dirty laundry till the national stage. Got money also no use, money cover only face, leaving other parts exposed,....

Come on this is salary forum. By default, Everybody will claim 100million dollars sgd passive income, have two bungalows fully paid up, three dogs, four maids, five roll royces, six kids all graduated from the best us universities, and perhaps one kid is a Nobel prize winner

Originally Posted by Unregistered

$200+ salary is not little by any measure. It is common, as many people earn this much, but is still the minority, if you go by statistics. Of course, there's nothing to be jealous of, just as there's nothing to be ashamed of if one cannot reach this level by 40.

A $200k pa salary would put you in the top 15% of the working population here. With 2.26 million working adults in Singapore (based on 2016 DOS figures) this would mean there are 339,000 people in Singapore earning at least $200k pa.

I guess in tiny Singapore, chances of you bumping into a person in the top 15% salary bracket will be very high - and you dont even have to be in the financial district to "meet" them. So that would give the impression that a $200k pa salary is common.

Many of the senior uniform officers (LTC and above) would easily command such salaries.

I am neither in the uniform services nor in the financial services but I have managed to work my way up the career ladder over the years to reach a salary of $250k+ pa. It was a slow progression, but I "achieved" the $200k pa mark before I turned 50. I am now 57 - better late than never.

Over my 32 years of working, I have seen all spectrum of colleague types. Some were earmarked early for higher responsibilities and were fast tracked in their careers and easily earned $200k before they were 35, while many others fell by the wayside and many left the company.

I count myself lucky to have survived this many years in the company and still commanding such reasonably good remuneration.