Dec 21 2021, 05:50 PM
QUOTE(Wedchar2912 @ Dec 21 2021, 05:31 PM)
This is not a big concern for the time being. When one retired, one technically do not have any income right? Then only remit back your cpf slowly, year on year.
The remitted funds, even if one cannot prove they are capital vs income, is at most going to be taxed at normal income rate. So technically every year, the first 40K rm is basically tax free.
Assume Covid19 is gone and Spore Msia open again like last time, use the old and tested strategy lor. Put monies inside shoes, underwear, bags etc hide a bit here and there and not too big amount will do. Best is with a group ask each of them to help hide for you also. Once cross customs then treat them meal lor. But that was my times where x-ray machine not so advanced (some days spoilt not working but remain there let ppl see machine etc). Now 2021 I don't know they got buy better x-ray machine to scan ppl or not.The remitted funds, even if one cannot prove they are capital vs income, is at most going to be taxed at normal income rate. So technically every year, the first 40K rm is basically tax free.
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