Working in Singapore v9, How to save 100k in 3 years to buy HDB?
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 Dec 21 2011, 02:54 PM
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#1
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Senior Member
623 posts Joined: Sep 2005  
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IRAS has revised the tax rate for 2012. I've wrote a simple online calculator to calculate personal income tax. Feel free to use it and give me your feedback, if you guys found any miscalculation please let me know.
http://tax.chenhow.net |
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 Jan 11 2012, 11:08 AM
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#2
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Senior Member
623 posts Joined: Sep 2005
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QUOTE(sylar111 @ Jan 10 2012, 06:32 PM) IT Developer You can check from salary.sg http://www.salary.sg/2010/top-100-jobs-in-singapore-2010/6.5 years Degree in Computer Science cum degree in physics Is that a good salary SGD 4700? If contract how much should that increase to. Thanks  QUOTE 97. Systems programmer – $4,907 There are a few things you should take into consideration, like being a contractor you don't get to enjoy staff benefits that permanent staff do like bonus, medical expenses and with lesser annual leave and lack of job security.98. Software engineer – $4,900 Nevertheless, SGD 4700 is very good money, is the 'happiness' salary for single men. If you have family, then abit susah but still manageable la. |
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Jan 11 2012, 11:34 PM
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#3
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Senior Member
623 posts Joined: Sep 2005
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QUOTE(sylar111 @ Jan 11 2012, 07:19 PM) It's not the top earner but then it's higher then most of the average ppl. My friend who is 35 years old and graduated from NUS doing support in IBM is only earning about SGD5500 and he is also a citizen over there. It depends on the industry you're in. My brother who got a first class honurs in engineering and was on the dean's list in NUS . He is only about 25 years old but he might be earning SGD 5k. Do you think that he can be used as a valid example for comparision? If I was earning SGD 6600 in Singapore, position wise, I will be much much above as compared to my position right now. To be honest, I think you really have to be very very lucky to be earning more then what you are earning in Malaysia. Well, i think you are talking about a different case here. Yeah they are subjected to a paycut but if say there is a permanent worker in their ranks the contract worker has to always earn more then the permanent worker unless those contract worker are from India or Bangladash then different story. My point being that contract worker has to always earn more then permanent no matter what even if the benefits are similar to the permanent worker because the contract worker has sacrificed his job security he should be compensated for that. Just would like to know how much more a contract worker has to be paid. Anyone with any experience can share with me? Added on January 11, 2012, 7:21 pm Well what if they get retrenched. Would they still commit suicide? In IT industry, if you refer to the list that i sent earlier 4 to 5k is for junior level 6 to 8k is for senior/manager/AVP level 9k and above is from VP/SVP/MD up to CEO level (higher executive level) I'm not sure whether this applicable to IT developer, but you can use it as reference. I agree contract worker should be compensated with more money, but from the employer's perspective, they have their budget and internal pay-scale reference points. If SGD4700 is the agreed deal, i think is not wise to go back to them and ask for more. But if the negotiation is still on, you can try to ask for another 10%. If they dont accept, also no need to be sad because the offer is not that bad. If you try to benchmark your annual income: (based on salary.sg [URL= http://www.salary.sg/2010/compare-your-annual-income-2010/]) Your annual income of $61,100 (SGD 4700 x 13 months) is higher than 58.3% of all resident taxpayers. |
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Jan 17 2012, 09:36 PM
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#4
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Senior Member
623 posts Joined: Sep 2005
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QUOTE(senyii @ Jan 17 2012, 08:51 PM) They ask me start march too.. You can surrender your SPR and withdraw your outstanding CPF balances in full.Added on January 17, 2012, 8:52 pmThen is it better to get a PR?the cpf need wait till retire oli get?wut if before retire I wish to go back Msia?then all my cash stuck inside? |
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Jan 17 2012, 10:51 PM
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#5
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Senior Member
623 posts Joined: Sep 2005
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QUOTE(deodorant @ Jan 17 2012, 09:41 PM) Sure or not? Oh ya, you were right, i forgot about this.http://mycpf.cpf.gov.sg/CPF/my-cpf/Overseas/LivO9.htm Need to be 50 and above or OKU then only can withdraw ler. QUOTE(senyii @ Jan 17 2012, 09:42 PM) Ic...wut is SPR?wut is the requirement to apply PR?nd to work 2yr b4apply? SPR means Singapore PR. And you will need to fulfill all the conditions mentioned by Deodorant in order to withdraw your CPF. To apply SPR. You can check the ica webiste. (http://www.ica.gov.sg) QUOTE Eligibility The following categories of foreigners are eligible to apply for permanent residence: (a) Spouse and unmarried children (below 21 years old) of a Singapore Citizen (SC)/SingaporePermanent Resident (SPR) (b) Aged Parents of a SC © P, Q or S work pass holders (d) Investors/Entrepreneurs |
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Jan 19 2012, 09:55 AM
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#6
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Senior Member
623 posts Joined: Sep 2005
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QUOTE(elvenchou1987 @ Jan 18 2012, 10:28 PM) Seems like quite a number of ppl into networking field. I am too!! Currently working with AT&T as Network Consultant. Come on Network Engineers. REVEAL yourself!!! me me  |
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