Time for AK to be paid $12,750.

Who? Who?

Who is paying AK so much money?

Why? Why?

Make a guess?

Pause.

Pause.

Pause.

Give up?






It is the last quarter of 2013 and I am making my yearly contribution to my SRS account. 

So, I am paying myself $12,750.

Aiyoh, who threw something rotten at me? 

Hey, must have a sense of humour mah. LOL.





Although the contribution cap is S$ 12,750, we do not have to contribute the maximum if we don't need to or are unable to.

Don't need to? 

Well, a person who pays relatively little income tax could be tax free simply by contributing a few thousand dollars to his SRS account.

Unable to? 





Everyone's circumstances are different. $12,750 is quite a bit of money for many. 

If a person could only contribute $5,000 comfortably, then do so. 

Although he would not enjoy the maximum tax savings, he would still enjoy some savings.

I hope you will remember to contribute to yours before the end of the year.

The SRS is part of the Singapore government’s multi-pronged strategy to address the financial needs of a greying population by helping Singaporeans to save more for their old age. 

It began in 2001 and is operated by the private sector. 

Writing out a cheque to myself.

NOTE:
From 2016, the max SRS contribution is $15,300 a year.





Download the SRS Handbook: here.

Related posts:
1. Be rewarded for opening an SRS account.
2. A war chest called "SRS".

Supporting my companies and getting 'paid' in the process.

Recognise these brands?

Or these?

These are brands that belong to QAF Limited.

Today, I was pleasantly surprised to see Cowhead brand's organic rolled oats.

Better still, they were on special offer. S$4.95 for two packets (500 grams each) at NTUC Fairprice.

Pesticides free!

What makes the purchase even more satisfying is that I am a shareholder of QAF Limited (and also NTUC Fairprice).

I like supporting my companies and getting some dividends in the process. Good idea?
------------

Update (18 June 2016):

Money from NTUC Fairprice.
Net of deductions, it is a rebate of 3.35% on my purchases.

This is on top of receiving Link points ($1 spent = 2 pts. Exchange 3,000 points for $20 Fairprice voucher. 1.33% rebate.) and also a 5% cashback from my credit card! 

AK will get more free grocery this month!

Like supporting our companies and being paid for it? I am sure we do!

Related post:
Thank you for investing in INCOME.