Webinar: Minimising and Optimising Your Taxes

Watch the webinar replay

Chapters‍

00:00 – Introduction

‍02:37 – How does income tax work in Singapore?

‍04:04 – How can we reduce our income tax?

‍06:07 – About the Supplementary Retirement Scheme (SRS)

‍19:25 – Using your SRS savings for investments

‍24:54 – What’s your biggest pain point with income tax?

‍26:35 – Different ways to pay your taxes, including credit card

‍27:10 – Earning card rewards for big expenses like taxes, rent, mortgage

‍28:43 – What to think about when choosing a credit card

‍31:01 – How paying your taxes with CardUp works

‍37:40 – Special offer: enjoy your first payment for free

‍44:57 – Q&A: What to consider for SRS withdrawals

‍45:54 – Q&A: Using GIRO and credit card to pay your taxes

‍47:07 – Q&A: Do I need to inform the insurance firm or IRAS if I am using CardUp?

‍48:06 – Q&A: Do CardUp payments include insurance premiums?

‍50:07 – Q&A: I’m a local and my kids are studying overseas. How do I lower my tax bill?

About the session

Feeling the pain of paying higher income tax in the latest tax season? If you’ve recently received your Notice of Assessment (NOA) from the Inland Revenue of Singapore (IRAS), you might be baulking at the size of your tax bill. But there are actually ways to cut your tax bill — if you know where to look.

The Supplementary Retirement Scheme (SRS), for one, is an attractive income tax deferment scheme in Singapore that more Singaporeans and foreigners living in Singapore should take advantage of.

Come join us at our upcoming webinar — jointly organised by Endowus and CardUp — to learn how to utilise SRS to reduce your taxable income, maximise your retirement savings, and achieve peace of mind.

In this curated session, Chiam Sheng Shi, Business Development and Partnerships Lead, Endowus, and Candice Gallagher, Head of Payments Marketing, CardUp, will provide actionable tips and guide you through how best to use your SRS savings for retirement. They’ll also discuss the benefits of the scheme, and how to streamline your tax payments while earning air miles along the way. 

Topics to be discussed include:

1. How income tax is calculated in Singapore
2. An introduction to the Supplementary Retirement Scheme
3. How to grow and manage your SRS savings effectively
4. Different methods you can use to pay your taxes
5. How to choose the best credit card for payments
6. Benefits of shifting tax expenses onto your credit card

View the questions from the live audience here.

About the speakers

Candice Gallagher, Head of Payments Marketing, CardUp

Candice is a fintech marketer who loves great storytelling. Whether running multi-million-dollar brand partnerships or picking email subject lines, she prides herself on building integrated marketing campaigns that resonate. As Head of Payments Marketing for CardUp, she leads a team of rockstar marketers shaping next generation B2B financial solutions for SMEs. Candice holds an MBA from IMD, a love for Southeast Asia, and a knack for making TikTok videos.

Chiam Sheng Shi, Business Development and Partnerships Lead, Endowus

Sheng Shi is a personal finance enthusiast who believes that good investment advice and products should be made accessible to everyone. Prior to Endowus, he was with CapitaLand covering China private equity funds. He graduated with a B.B.A (Hons) in a double specialisation in Finance and Supply Chain Management from National University of Singapore and is a CFA Charterholder.

About CardUp

CardUp is on a mission to provide individuals and businesses with a better way to pay and get paid. We allow any domestic or overseas expenses – previously made by cash, cheque, or bank transfer – to be shifted onto a credit card, even if your recipients do not accept cards. This includes expenses like income tax, mortgage loans, renovation, rent, insurance, school fees, and many more. With CardUp, you can easily rack up miles, points, and cashback on all your payments.

CardUp operates regionally across Singapore, Hong Kong and Malaysia, and is licensed by the Monetary Authority of Singapore (MAS) as a Major Payment Institution under the Payment Services Act.

About Endowus

Invest better to live easier today and better tomorrow. Endowus is the first and leading digital advisor for CPF, SRS, and cash savings, helping everyone invest holistically, conveniently, and with expert advice at the lowest cost possible. Endowus is a fee-only independent advisor paid solely by its clients, allowing its advice to be unaffected by conflicts of interest. The firm provides its end-to-end digital solution to individual and institutional investors. Endowus is licensed by the Monetary Authority of Singapore.

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This article is for information purposes only and should not be considered as an offer, solicitation or advice for the purchase or sale of any investment products. It is recommended that you seek financial advice as to the suitability of any investment. Whilst Endowus Singapore Pte. Ltd. (“Endowus”) has tried to provide accurate and timely information, there may be inadvertent delays, omissions, technical or factual inaccuracies or typographical errors.

Any opinion or estimate above is made on a general basis and none of Endowus, nor any of its affiliates, representatives or agents have given any consideration to nor have made any investigation of the objective, financial situation or particular need of any user, reader, any specific person or group of persons. Opinions expressed herein are subject to change without notice.  

Investment involves risk. The value of investments and the income from them can go down as well as up, and you may not get the full amount you invested. Past performance is not an indicator nor a guarantee of future performance.

Please note that the above information does not purport to be all-inclusive or to contain all the information that you may need in order to make an informed decision. The information contained herein is not intended, and should not be construed, as legal, tax, regulatory, accounting or financial advice.