Tuesday, December 6, 2016

Just Contributed More Money To SRS Account

I just contributed another lump sum of monies to my SRS account. There are good reasons for me to do so since I get to enjoy tax reliefs and will end up paying less taxes for the next year.

I figure that I have contributed about $10000 and upwards so far this year to my SRS account. There is a cap to how much relief I can claim so I will probably max that out by end this year ( which really does not give me much time!).

I have also maxed out my CPF minimum sum top up by contributing $7000.

Good tax reliefs so why not?

4 comments:

  1. Locking up assets for retirement long before its time and retirement planning is progressing well ahead of its time is two different animal.

    ReplyDelete
    Replies
    1. So you don't recommend contributing to SRS?

      Delete
    2. Not sure how many know the difference! Not easy to understand!

      Delete
  2. Use ocbc srs account. Very good with prompt monthly statements

    ReplyDelete

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