Other Money Mattersat Salary.sg – Your Salary in Singapore |
In a recently concluded Salary.sg poll, 31% of the respondents indicated that their medisave balance reached the prevailing medisave contribution ceiling before they were 33 years old. Are you one of them? Once your medisave balance hits the MCC, the excess will be transferred to your Special Account. How soon you hit the MCC is an [...]
The prevailing CPF Minimum Sum will be increased to $123,000 effective 1 July 2010 (source: Straits Times). This is a $6k increase from the previous $117,000. If you are thinking of using CPF to pay for a second property, you will need to set aside half of the prevailing Minimum Sum. This amount is currently [...]
Did you have enough cash when the stock market plunged to its lowest points between late 2008 and early 2009? If you did, and you were confident enough to buy stocks, you would have made good money using the market cycle investing strategy. Someone told me he had very much wanted to buy some cheap [...]
Read the full article at Hold Cash To Exploit Market TurmoilDo 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 [...]
Read the full article at Income Tax Singapore YA2010The 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 [...]
Read the full article at High COE Prices – Can You Afford That Car?We can reasonably expect Singapore to plunge back into recession at the end of this quarter. If it does, we will be the first country in Asia, and possibly the world, to experience a double dip recession in the aftermath of the global financial crisis. Our economy first dipped into a technical recession in Q3 [...]
Read the full article at Double Dip RecessionOne good way to achieve financial success (i.e. make lots of money) is to do business. This is a view shared by one of the (few) millionaire forummers at Salary.sg Forums: “- If I want to be rich, what’s your advice for me? It seems to me that the only way to be rich for [...]
Read the full article at Setting Up a Small BusinessIf you are a car owner, does your pay match your car ownership status? If you don’t have a car, how do you know whether you can afford one? In this article, Salary.sg proposes using $7,650 as an income guideline for car ownership in Singapore. We all know that owning a car in Singapore is a [...]
Read the full article at Car Owners: Do You Make More Than $7,650?Many people often wonder if they can afford to stay in private housing. There are various ways to find the answer. You can ask a bank, calculate your debt ratios, use our 7.6x guideline, or compare your income with the average income of your desired housing type – which is the main topic of this [...]
Read the full article at Does Your Income Match Your Housing Type?I remember watching the NKF charity show on TV as a kid. The whole thing seemed so meaningful to me that I picked up the phone and repeatedly dialled the donation number. No, I didn’t seek my parents’ permission, but let’s not sidetrack. I continued watching these heartwarming and often emotional charity shows into my [...]
Read the full article at Raising Funds for Charities – the Wrong and Right Ways
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