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In The Money
Tax savings from SRS can add up
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The yearly maximum SRS contribution allowable from Singapore citizens and permanent residents is $15,300 while that from foreigners is $35,700.
PHOTO: THE BUSINESS TIMES
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Q: Should I start contributing to my SRS now that I’m in my late 30s?
As the end of 2023 draws near, many people will be considering contributing to the Supplementary Retirement Scheme (SRS) to reduce their tax payable.
