SRS Account Singapore Guide 2019: How to Start, Schemes & Penalty

It is no secret that Singapore is one of the lowest income tax rate countries in the world. 

But wouldn’t it be better if you could pay even less taxes and save more for the future? After all, a dollar saved is a dollar earned. 

“So how?” you might wonder.

Today you will learn a government tax savings program called Supplementary Retirement Scheme. Here, we will cover what is SRS about, how to set it up, how much tax savings can you get and whether is it worth considering it.

So without further ado let’s start!

What Is Supplementary Retirement Scheme?

Supplementary Retirement Scheme (SRS) is a voluntary saving scheme that complements your CPF savings for retirement.

The Scheme is open to everyone living in Singapore. This means that Citizens, Permanent Residents and Foreigners are all allowed to open an SRS account. Other than to increase

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