They chose financial independence over home ownership.

This is somewhat extreme but watch how this Canadian couple chose financial independence over home ownership.  They are in their 30s and,...

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"E-book" by AK

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Tea with Matthew Seah: The top 8% of the world's wealthy.

Saturday, March 22, 2014

Son : Why are we not rich ?
Dad : Who says we're not rich ?
Dad :Being rich is not about how much you have , but how much you give .
Dad : Somehow when you give, you'll be happier .
Boy: *sulks, and after reflecting*, I wasn’t happy.

Watch this video:

Do you feel like the boy, or the dad?

In Singapore, the circumstance is such that many live from paycheck to paycheck and have no money or worse, they are in debt. These people will be thinking like the boy.

The tax rebate on your taxable income is 2.5 times your donation for the year. This turns out to be an effective tax rate of 40%.

$1 donation / $2.5 income recognized by IRAS = 40%

Whenever you give, you are actually giving at a tax rate of 40%!

Now if you are thinking like this, you definitely won’t be happy as well.

If you can read and understand this, then count your blessings, give and be happy!

Let’s all show some beautiful display of free, gracious generosity.

Related posts:
1. Counting our blessings.
2. An appeal by AK71 for funds.
3. Ways to reduce income tax.
4. Make a donation to help needy students. 

(Added on 8 Oct 15).


SnOOpy168 said...

8% ? Like x 3, but always that little bit more

Elaine K said...

Thank you for sharing.

Its terrible to be watching the video and crying in the office on a Monday morning.

ivan said...

Thanks for sharing this AK! Put a lot of things into perspective at current times :)

Warm Regards,

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