The lowest income tax payable in many years (YA 2015).

I just did my income tax filing for Year of Assessment 2015. 

Yes, I am always quite early, preferring to get it out of the way ASAP.

My estimated income tax payable has reached a new low.

I have shared some ways which could help us pay less income tax before and I have included the links at the end of this blog.

This year, the government, to celebrate SG50, is allowing all qualifying donations a tax deduction of 300% of the donation amounts in 2015. 

This is up from 250% in recent years.





As we journey towards financial freedom, let us not forget the less fortunate. 

Do good and pay less income tax? Why not? 

I am sure all of us can find a charitable cause that we support in 2015.

Reference:
What type of donation is tax deductible?





So, how much is my estimated income tax payable for YA 2015?

Estimated income tax payable is $772.14.

Related posts:
1. Ways to reduce income tax. (YA 2013)
2. Double your income but not your tax. (YA 2014)
3. One of the most noble things we can do.

Green is not just the color of money.

People remember Mr. Lee Kuan Yew for saying many things before but I think few would remember him making a statement regarding global warming and whether governments around the world were doing enough to tackle the problem.

He will be sad if the polar bears vanish from the North Pole, but sadder still should the ice cap melt at the South Pole. These dire consequences of global warming featured prominently in Minister Mentor Lee Kuan Yew's inaugural Singapore Maritime Lecture at the Fullerton Hotel yesterday. 

"When the polar bear disappears from the Arctic, I will be sad when I see them at the zoo. But I will be sadder when the Antarctic ice cap melts because the water level will rise so much," he said. The calamity confronting humanity has no easy solutions nor are governments doing enough to tackle this problem, said Mr Lee. 

"I am not optimistic about the will of governments to attack this cause," he told some 300 top maritime executives, in response to a question about how Singapore can contribute to climate change. "I do not see any leaders saying let us eat less, eat more vegetables, eat less meat." 

Source: 
http://www.wildsingapore.com/news/20070910/070926-1.htm

Close friends would know that I am a bit of an environmentalist. I carefully wash and clean what could be recycled and deposit these in recycling bins regularly. I also try to grow some plants at home. I am careful to conserve water and electricity while still having a comfortable life.

I also try to reuse product packaging where possible and friends are constantly amazed by how I actually find a purpose for stuff that many would have simply thrown away. Some readers would remember how I put a Bengawan Solo mooncake tin to good use, for example.

So, I suppose it is not surprising that what Mr. Lee Kuan Yew said so many years ago stayed at the back of my mind. Then again, why the sudden flashback?

Well, I have been eating less meat recently. This is partly because I think I do not need much meat in my diet as I grow older and partly because I think they make me fat. The fact that not having meat helps the environment is a plus.

Do you know what else is a plus? The cost savings.

Here are some photos of my meals this week:

Price: $2.50

Price: $2.30

Price: $2.60

For dinner this evening, I decided to boil some broccoli I bought from the supermarket in an Ikan Bilis soup stock.
Price: $0.87. Ok, add water, heating and some Ikan Bilis.
Maybe $1.20?

Want to try doing something meaningful beyond your weekly routine? If you are not a vegetarian, try cutting back on meat this week.

I am not sure if you would like it but I think you would see the many benefits of doing so. Of course, you would also be doing your bit for the environment although you might not know it.

Have a good week ahead!

Related posts:
1. AK71 on climate change.
2. AK71 on more frequent storms.