SGD 7k monthly offer

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Member since 12 February 2016

pavanallankiMember12 February 2016 09:16:49

Hi,
I am a sofware engineer with 8 years of experience and am getting an Permenant opportunity in Singapore.
The annual salary offered is 7K.
I have a school going kids and my spouse is a housewife. Am aware that accommodation and schooling is expensive; hence wanted feedback if the annual salary is good enough for having a decent lifestyle with sufficient savings and the objective is to聽 maximize savings over the next 5 years.

Naomi ViP

Member since 01 December 2015

NaomiViP12 February 2016 09:42:40

559

Hello pavanallanki,

Welcome to 禁漫天堂

I invite聽 you to browse through Cost of living in Singapore on the forum. You will find interesting points about cost of living which may help you.

Naomi.

beppi Germany - Singapore Expert

Member since 08 August 2010

Germany & Singapore Expert

beppiGermany - Singapore Expert13 February 2016 09:37:22

15383

An ANNUAL salary of S$7000 (i.e. S$7000 per year) is not nearly enough to survive at all.
If you mean monthly salary (S$7000/month) it is o.k. for your level, but might be tight depending on your spending choices. There won't be much savings. You should budget S$3000/month for rent (and be happy if you find a cheaper place) plus S$1500-3000/month for school fees (international school, since it's difficult to get a place in local schools that cost S$500/month). Other than that you need S$600-1000/month per person for daily living expenses.

Efshan Active member

Member since 20 November 2014

EfshanActive member14 February 2016 17:42:24

Beppi i have a question,
Is it correct that income tax on 6000 SGD per month salary (as i read on MOM that 20 % income tax is applicable) is 1200 per month ?
if u have more info on taxes please share.

beppi Germany - Singapore Expert

Member since 08 August 2010

Germany & Singapore Expert

beppiGermany - Singapore Expert14 February 2016 19:52:20

15383

You can find authoritative information on the website of the Singapore tax office:
聽聽
Income tax rates for residents are quite low: On S$72000/year (12 months of S$6000 each) you'd have to pay a maximum of S$2800 after the end of the year - that is below 4%!

Andrewoca Guest

AndrewocaGuest17 March 2016 08:23:10

214245

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fornight Serial expat

Member since 29 February 2012

fornightSerial expat19 May 2016 02:02:28

395

Efshan wrote:
Beppi i have a question,
Is it correct that income tax on 6000 SGD per month salary (as i read on MOM that 20 % income tax is applicable) is 1200 per month ?
if u have more info on taxes please share.

20% is CPF and not tax...it is like Pension.

surya2k VIP Member

Member since 22 June 2014

surya2kVIP Member25 May 2016 17:08:35

2890

Salary of 6k per month, you may pay max 1400 to 1600 SGD as tax per annum. You can see the tax slab available at iras website.

20% is not CPF, for PR n citizens below is the details:

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