| 31-08-2023 07:56 PM |
| Unregistered |
Quote:
Originally Posted by Unregistered
nope not true, majority of reputable resources don't include and will even tell you that they didn't include in their fine print.
|
Go on then, name these "resources" that state what you described about not factoring in CPF.
|
| 29-08-2023 02:11 PM |
| Unregistered |
Quote:
Originally Posted by Unregistered
The vast majority of online resources reporting on median income in SG clearly state that the figures are INCLUSIVE of employer CPF contribution. Hence, it is fair to ask if this is the case here too.
|
nope not true, majority of reputable resources don't include and will even tell you that they didn't include in their fine print.
|
| 29-08-2023 10:10 AM |
| Unregistered |
Quote:
Originally Posted by Unregistered
Is this inclusive of employer CPF? How about bonuses?
For example, if someone's has:
Base salary: $10,000
Employee CPF: $1,200
Take home salary: $8,800
Employer CPF: $1,020
Annual bonus: $20,000 (For simplicity, I'm going to pretend there is no CPF on this bonus)
Does this mean his total income is calculated as:
A) $10,000 x 12 = $120,000
B) ($10,000 x 12) + $20,000 = $140,000
C) ($10,000 x 12) + ($1,020 x 12) + $20,000 = $152,240
D) $8,800 x 12 = $105,600
E) ($8,800 x 12) + $20,000 = $125,600
Which value (A to E) is correct?
|
I think you should use (B), which is what your employer would submit to IRAS as your assessable income.
|
| 29-08-2023 10:08 AM |
| Unregistered |
Quote:
Originally Posted by Unregistered
The vast majority of online resources reporting on median income in SG clearly state that the figures are INCLUSIVE of employer CPF contribution. Hence, it is fair to ask if this is the case here too.
|
This tool uses YA2022 data published by IRAS. And the data is about "assessable income", which is the income you report to IRAS when you file tax. In other words, it should not include CPF. It's all gross income.
For example, my case for YA2022 would be:
Gross salary from day job filed by employer in auto-inclusion scheme -- $102,000
Rental income with 15% assumed expense -- $24,480
Total = $126,480
|
| 29-08-2023 10:05 AM |
| Unregistered |
Quote:
Originally Posted by Unregistered
You never add CPF into TC or total income comparisons. It makes 0 sense.
|
+1
Cpf cannot be immediately liquidated and used.
|
| 29-08-2023 03:52 AM |
| Unregistered |
Quote:
Originally Posted by Unregistered
You never add CPF into TC or total income comparisons. It makes 0 sense.
|
The vast majority of online resources reporting on median income in SG clearly state that the figures are INCLUSIVE of employer CPF contribution. Hence, it is fair to ask if this is the case here too.
|
| 28-08-2023 10:30 PM |
| Unregistered |
You never add CPF into TC or total income comparisons. It makes 0 sense.
|
| 28-08-2023 10:12 PM |
| Unregistered |
Is this inclusive of employer CPF? How about bonuses?
For example, if someone's has:
Base salary: $10,000
Employee CPF: $1,200
Take home salary: $8,800
Employer CPF: $1,020
Annual bonus: $20,000 (For simplicity, I'm going to pretend there is no CPF on this bonus)
Does this mean his total income is calculated as:
A) $10,000 x 12 = $120,000
B) ($10,000 x 12) + $20,000 = $140,000
C) ($10,000 x 12) + ($1,020 x 12) + $20,000 = $152,240
D) $8,800 x 12 = $105,600
E) ($8,800 x 12) + $20,000 = $125,600
Which value (A to E) is correct?
|
| 28-08-2023 09:49 PM |
| Unregistered |
Quote:
Originally Posted by admin
If you make $100k yearly, you are at the 73.1th percentile.
To be in the top 10%, you need an annual income of $191k.
If you aspire to be in the top 5%, your annual income has to be $284k.
An income of $439k places you in the top 2%, and an income of $696k places you in the top 1%.
Benchmark your income at:
[s://.salary.sg/2023/compare-your-annual-income-2023/[/
|
Do we input assessable income from 2023 or 2022?
|
| 28-08-2023 09:26 PM |
| Unregistered |
Quote:
Originally Posted by Unregistered
bombardment gogogo
|
I am a fresh grad 26M and earning 200k p.a.
|
Topic Review (Newest First)
