This month was rather muted for me as there wasn’t any returns on my investment portfolio. But apart from the regular income from my day job, I have earned $600 from my active income this month. Active Income: $600 Website Maintenance Project ($300) During my reservist, a former client of mine sent me an email requesting for…
The Government and Monetary Authority of Singapore (MAS) are planning to introduce Singapore Savings Bonds (SSB), a new type of bonds to help individual investors get a better return on their savings. “In short, the Singapore Savings Bonds will offer the higher returns of a long-term bond and give what investors call a term premium,…
The Singapore government has always been encouraging the spirit of philanthropy and giving and one of the best policies that was implemented was giving tax deductions for donations made to a tax-deductible charity. Since 2009, qualifying donations have been entitled to a 250 per cent tax deduction. There are a few ways to reduce taxable income in…
It’s that time of the year again when you receive a letter or SMS from the Inland Revenue Authority of Singapore (IRAS) to file an Income Tax Return for income earned in 2014. If you only have auto-included income and their relief claims are the same as the previous year, IRAS may waive the requirement for you to…
As I started planning for my retirement, I began to pay attention to how our Central Provident Fund (CPF) system works for retirees. As retirees reach the age of 55, CPF allows them to withdraw $5,o00 and transfers the rest of the money from their Ordinary Account (OA) and Special Account (SA) to their Retirement Account…
Happy Lunar Year! I hope the month has been as good for you as it was for me. Thanks to my awesome clients Apart from the regular income from my day job, I have received $634.79 from active, passive and investment incomes this month. Active Income: $450 Shopify Project ($250) A friend-turned-client of mine wanted to set…