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$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 currently a pretty attractive, almost risk-free four per cent. You also get to enjoy tax relief for ...

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 multiple plan options, added benefits linked to life stages, joint life protection, critical illness cover...

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...

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 Year of assessments (YA). From YA 2020 onwards, new start-ups are given 75% exemption on the first $100...

$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 family’s). But there are withdrawal limits that apply to specific medical bill components: Surgery: D...