Category Archives for Financial Planning
Singapore Government to Guarantee all Deposits
In a joint press statement issued by MAS and Ministry of Finance yesterday night, the Singapore government announced that it would guarantee all Singdollar and foreign currency deposits of individual and non-bank customers in licensed banks, finance companies and merchant banks. The guarantee of up to S$150 billion will be more than enough to cover […]
Changes to SRS Scheme
During Budget 2008, the government announced a number of changes to the Supplementary Retirement Scheme (SRS) to make it more attractive. These changes take place from 1st October 2008. If you are not aware what SRS is, it is basically a voluntary scheme started in 2001 to help people save on their income tax. Contributions to […]
Change in CPF Rule for Home Sellers Above 54
Currently, home owners aged 55 and above who have pledged their property to meet the Minimum Sum requirement have to pay back to CPF the amount they have pledged (with interest) when they sell their property. From 1st Jan 2009, there will be a change in this rule. Instead of returning just the amount indicated […]
Growth Dividends in October
The second installation of the Growth Dividends due to us will be deposited into our bank accounts in 1st October 2008. As announced during the recent National Day Rally, there will be an increase in the amount for the second payment. If you have signed up for the GST Credit, you will automatically qualify for […]
Rich Debt Poor Debt
In the current financial climate, companies find it harder and harder to obtain credit. Refinancing of existing debt is also done at a higher cost. Ironically, access to capital has never been easier for consumers. Banks continue to promote credit cards and credit lines relentlessly. My phone rings regularly with a promotion from XX bank […]