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Pay less income tax in future.

Monday, March 5, 2018

It is that time of the year again.

Remember to file your income tax.

Ouch.





Taxes are a necessary evil because a country's revenue is from taxes and a country like any modern day entity needs revenue to be viable.

So, if we have to pay some taxes, we are contributing to nation building.

Not a bad thing, really.






However, if it is possible for us to pay less income tax, why not?

I am talking about doing it legally, of course.
















As I don't have any significant earned income anymore, I don't pay any income tax.

When was the last time I paid income tax?

You might want to read it: HERE.


Investing for income has helped me to increase my income but not my income tax and you can do it too by creating dividend machines: HERE.





Related post:
Income tax payable.

2 comments:

P Lee said...

Dear AK, if you dont have income, but contribute to your CPF voluntarily, then will you get "flag" by IRAS in that sense no income declared but got $$$ to top-up CPF?? Where do you get the money from??

Just curious only

AK71 said...

Hi P Lee,

I have passive income from my investment. ;)

http://singaporeanstocksinvestor.blogspot.sg/2017/05/when-will-i-have-as-much-passive-income.html

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