In 2022, I deducted 6-figures of income from my expat taxes.
Yes, the day has finally arrived. In this deep dive, weâre going to explore the beautiful world of juicy tax optimizations for my kindred spirits: Expats in Singapore and American Expats. đ
Not you? Donât fret â Iâll tackle Portugal, Netherlands, and other expat hubs soon. DM me if youâd like me to cover your country!
Today in 10 minutes or less, youâll learn:
đ¸đŹ 4 tax benefits for expats in Singapore: Retirement Scheme, New Startup Company Scheme, tax reliefs, & more
đşđ¸ 3 tax benefits for American expats: Foreign Earned Income Exclusion, Foreign Housing Credit, & more
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đ¸đŹ 4 must-know tax benefits for expats in Singapore
đď¸ Supplemental Retirement Scheme
The Supplemental Retirement Scheme (SRS) is a voluntary, tax-advantaged account available to foreigners.
Why invest?
Tax deferral: You can deduct your contributions from your taxable income that year
Investments compound tax-free
Upon retirement, 50% of your withdrawals are tax-free
How much can you contribute?
Singaporeans/PRs: up to S$15,300 annually
Foreigners: up to S$35,700 annually
How much taxes can you save?
