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Archive for March, 2010

Income Tax Singapore YA2010

Tuesday, March 30th, 2010

Do you know that Singapore uses a progressive tax system? The tax rate increases as the chargeable amount increases. (See IRAS tax rates.) A person with a chargeable income of $100k is taxed $7,100 or 7.1%. But if the chargeable amount was $300k he has to pay $39,300 in taxes or 13.1%. Fair? Here’s the [...]


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High COE Prices – Can You Afford That Car?

Wednesday, March 24th, 2010

The latest COE Bidding Results are out. With the exception of the motorcycle category, all other categories recorded their highest prices in recent years. To buy a small car, you now have to pay $28,389 for that “Certificate of Entitlement”. (I heard an NUS degree costs less. ) Car dealers have also promptly adjusted their [...]


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44 Percent of Workforce Are Non-Citizens (our estimate)

Monday, March 15th, 2010

The next time you hear the word “locals”, tell yourself it actually means “PRs and citizens”. Similarly, “foreigners” means “foreigners who are non-PRs”. Locals aren’t all Singapore citizens, and foreigners don’t include PRs. Confusing? In yet another good example of the locals-foreigners confusion, the Manpower Ministry has proclaimed in its Labour Market 2009 report that [...]

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Do You Earn More Than $52,350 The Median Annual Income?

Wednesday, March 10th, 2010

$52,350 is the median income of all resident taxpayers for YA2008, which I calculated based on the numbers in IRAS annual reports. You can use this income comparison tool to see which percentile you belong to. However, the main objective of this article is to show how much the median income has grown over the [...]

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