Tag Archives: High Income

BUDGET 2015: MUCH HIGHER TAXES FOR HIGH INCOME EARNERS

Top income earners will have to pay more personal income taxes starting 2017, announced Deputy Prime Minister and Finance Minister Tharman Shanmugaratnam in his Budget address today (Feb 23). This move will affect the top five per cent of income earners, who earn at least S$160,000. But it will hit highest income earners the hardest, said Mr Tharman, as marginal income tax rates rise significantly towards the top end of incomes.

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MAN EARNING $12,500 MONTHLY ASKS IF HE HAS ENOUGH SAVINGS

I am 28 years old and I started working at 26 after getting qualified. My starting pay check was 5.2k monthly for 1.5 years before I got headhunted and switched firm half a year ago. The new job started with 11.5k for the first 6 months. My salary just got reviewed and I am currently earning 12.5k this month. How am I doing? Is there a national savings guide on how much one should have saved by 28 (apart from the JP morgan survey). Just looking for mean values across age groups to compare how I fare.

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