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People get confused sometimes what the CPF is supposed to do. We should be clear what each tool in personal finance is supposed to do for us. Don't be confused.
C
... May I know how much should I top up my SA cpf by cash if I want to avoid paying tax?
Assi AK
You could do MS Top Up to your SA. Tax relief will be given for the first $7K of top up per year.
C
Thanks. Tax relief meaning the entire tax payment is waived or only partially waived?
Assi AK
Learn how to invest? You can start by reading some books. Go to my blog's right side bar and look for the box with the heading "Food for thought".
Related post:
Build a cornerstone in retirement funding.
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10 comments:
very nice answers nowadays from ak.
less categorical "1 size fits all" prescriptions.
more fact-based sometimes opinionated but always informed answers.
the above is a compliment.
Hi SMK,
I want people to know that I don't have all the answers or at least not the type of answers they often want from me...
Nowadays , seems AK's side is having more and better info of Q& A section than CPF Board's website ,,, Gambateh !!!
Cheers ! 👏🏽👏🏽
Hi STE,
Alamak. Dun liddat say. I got all the info from CPFB's website de.
there's a whole lot more info from scheduling a meeting with a CPF officer than the CPF website which is archaic to say the least.
I believe C has confused taxable income with actual payable income tax.
Ak is a ambassador from CPF, good job!
Hi Dennis,
I didn't receive any letter of appointment from CPFB.
So, I am just a kay poh...
Dear AK,
I salute you for your patience!!
Hi Kah May,
I am not always patient but I hope I am getting better at it as I age. :)
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