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04-04-2017, 09:25 PM
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Quote:
Originally Posted by Unregistered
so many rich ppl in sg. my passive income only 5k a year after working 3 years.
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Don't dispair
You still can work for 27 years in your career
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04-04-2017, 09:38 PM
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30 yo
Dividend stocks: 2k pm
Rental of condo unit: 4k pm
Cpf interest: 11k pa
Bonds: 1k pm
Fd + high interest savings account: 1k pm
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07-04-2017, 07:55 AM
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Income Tax
Its income tax filing season again.
Here's the combined income tax we had to pay for the last 5 years
2013 - $29,000
2014 - $33,000
2015 - $35,000
2016 - $37,000
This year, we will have to pay $41,000. The increase comes about as we can no longer claim relief for our children as they are working now.
Each time when we see the tax we have to pay we cringed. Thats where a chunk of our passive income goes. Sigh.
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07-04-2017, 07:41 PM
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Quote:
Originally Posted by Unregistered
Its income tax filing season again.
Here's the combined income tax we had to pay for the last 5 years
2013 - $29,000
2014 - $33,000
2015 - $35,000
2016 - $37,000
This year, we will have to pay $41,000. The increase comes about as we can no longer claim relief for our children as they are working now.
Each time when we see the tax we have to pay we cringed. Thats where a chunk of our passive income goes. Sigh.
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thank you for contributing to nation building
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08-04-2017, 10:44 AM
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Quote:
Originally Posted by Unregistered
Its income tax filing season again.
Here's the combined income tax we had to pay for the last 5 years
2013 - $29,000
2014 - $33,000
2015 - $35,000
2016 - $37,000
This year, we will have to pay $41,000. The increase comes about as we can no longer claim relief for our children as they are working now.
Each time when we see the tax we have to pay we cringed. Thats where a chunk of our passive income goes. Sigh.
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That's very low already, at least Sg don't charge capital tax. If like other countries charging gains tax, I would be paying close to $1 million everytime I make a successful investment.
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09-04-2017, 03:55 AM
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Quote:
Originally Posted by Unregistered
That's very low already, at least Sg don't charge capital tax. If like other countries charging gains tax, I would be paying close to $1 million everytime I make a successful investment.
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wow.... you are really successful.
the income tax that you pay is equivalent to the annual salary of average singaporean.
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09-04-2017, 11:34 AM
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Quote:
Originally Posted by Unregistered
wow.... you are really successful.
the income tax that you pay is equivalent to the annual salary of average singaporean.
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39 yr old
my income tax is around $1200
I am a regular employee
can you guys give tips on how to start building passive income? I don't want to spend money taking courses or asking bank staff for these details. Bank staff just tell us what is the best deal for them. They are not customer oriented and they fool us into taking something that is not worth for us.
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11-04-2017, 07:11 AM
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Quote:
Originally Posted by Unregistered
39 yr old
my income tax is around $1200
I am a regular employee
can you guys give tips on how to start building passive income? I don't want to spend money taking courses or asking bank staff for these details. Bank staff just tell us what is the best deal for them. They are not customer oriented and they fool us into taking something that is not worth for us.
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1. Pump 7K into cpf SA every year
2. If possible, top up SA till it hits ERS
3. Sit back and enjoy the compounding at Super Low risk levels
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