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Budgeting in Singapore: Here's how to live on $600 a month as a young working adult

Back when we were students, we largely survived on a shoestring budget and relied on funds from our families, student loans or even part-time jobs. But, after we graduated and started working, we might have started spending more. Because in the words of a wise soap salesman: Granted, his views are extreme. But, being frugal is a virtue, as it...
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MediSave Basic Healthcare Sum: 5 things you should know about it

$49,800 Since 2016, the Basic Healthcare Sum has been rising by four+per cent to five per cent every year. From here, you can extrapolate what your BHS might be when you reach age 65. But that’s really only a guess. BHS might increase more sharply than 5per cent in response to medical inflation. 3. Should we try to hit the Basic Healthcare Sum? You are free to top up your MediSave Account up to the BHS if you wish. Making MediSave top-ups will let you enjoy MediSave interest rates, which are ...
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Aditya Birla Sun Life Insurance presents DigiShield - first-of-its-kind fully customizable term plan

Aditya Birla Sun Life Insurance presents DigiShield - first-of-its-kind fully customizable term plan ANI | Updated: Feb 11, 2021 11:59 IST Mumbai (Maharashtra) [India], February 11 (ANI/NewsVoir): Aditya Birla Sun Life Insurance (ABSLI), the life insurance subsidiary of Aditya Birla Capital Limited (ABCL), announced a hyper-personalized term plan, ABSLI DigiShield Plan, to cater to the unique protection needs of customers. This single plan will offer multip...
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Source: aninews.in

3 things to know about MediShield Life premiums & coverage changes in 2021

A lot has changed in the past year, but the upcoming changes to the government’s health insurance scheme, MediShield Life, might have gotten lost in the noise. While the system has undergone little tweaks every now and then, in early 2021 there will be a major review of the MediShield Life scheme — which also means significant premium hikes! Since...
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How Companies Can (Legally) Reduce Their Corporate Income Tax In Singapore

6 minute read Singapore corporate income tax is a flat 17% of a company’s chargeable income. This is already one of the lowest and most competitive corporate income tax rates in the world. Nevertheless, there are still ways to further reduce your corporate income tax. Tax Exemption Scheme For New Start-Up Companies Introduced in YA 2005 to support entrepreneurship and help new local companies grow, the tax exemption scheme provides tax savings for new companies in your first 3 consecutive Yea...
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Health insurance in Singapore: Everything you need to know to survive

$34,531 So as you can see, one seemingly “simple” medical procedure like this can set you back a few months’ salary. Ouch. But I already have Medisave. I can use Medisave to pay, right? Every working Singaporean would have some money in their Medisave accounts. Channelled from your CPF savings, Medisave is basically a bucket of funds which are meant for healthcare costs.  The short answer is: yes, you can use Medisave to defray some of the costs of your treatment (or your immediate famil...
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