My calender just reminded me to e-file my income tax return again. Have you?
A kind friend of mine just shared with me that we can opt-in for Supplementary Retirement Scheme (SRS), which offers attractive tax benefits. It is a voluntary scheme to encourage individuals to save for retirement, over and above their CPF savings. Contributions to SRS are eligible for tax relief. Investment returns will also be tax-free before withdrawal and only 50% of the withdrawals from SRS are taxable at retirement.
The following table shows the yearly maximum SRS contribution for a Singaporean/SPR and a foreigner.
Singaporean/SPR Foreigner SRS Contribution rate 15% 35% Maximum SRS contribution= SRS contribution rate X Absolute income base (15% x $76,500) = $11,475 (35% x $76,500) = $26,775
Source: Inland Revenue Authority of Singapore
The current absolute income base is $76,500. This is based on 17 months of $4,500, which is the current CPF monthly salary ceiling.
This sounds like a great deal indeed especially if you have some spare cash in the bank. Anyway, click on the link above to find out more at the IRAS website.
A gentle reminder from me. Just be wary of fake websites from the nasty phishers when you surf online or submit an online form!
Below is a sharing by Christopher Talampas on how phishers hack into legitimate websites, create spoof sites and steal confidential information. Find out more about the security policies and practices that help ensure attacks like this don’t happen!
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Phishing School Teaches Lessons on Secure Practices
by Christopher Talampas (Fraud Analyst)
The Trend Micro Content Security team discovered a phishing attack that used a software company’s website to lure victims into divulging personal information. The compromised site was that ofSchool Website Solutions, which looks like this:
Figure 1.Clean page.
Phishers were able to hack the site however. Users who were trying to access School Website Solutions using its legitimate URL saw this page instead
Figure 2.Phishing page.
which is no longer related to the software company at all. The phishing site spoofed the login page of Alliance & Leicester, a bank in the UK. Information entered in this page were keylogged and stolen by phishers.
Trend Micro has already notified School Website Solutions of this threat, and the site administrators were able to swiftly respond and resolve the issue. Security policies and practices that help ensure attacks like this don’t happen include:
- Religiously checking OS and software vulnerabilities and taking necessary actions when problems arise.
- Using strong passwords.
- Disabling unneeded services and deleting unnecessary accounts.
- Keeping private files private by not placing them under the public directory on the server.
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Download free software for protection again web threats.
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