Hi, I just converted into PR and I'm not sure how the CPF stuff will work.
If I make, say, $100 in a month, how much would this go to
a) Personal income tax? (my 2nd year in Singapore)
b) CPF from my salary
c) CPF from the employer (is this correct?)
Also, they say I can buy an apartment using CPF money. Would I still need to give some exhorbitant down payment at the insane rates in Singapore now, or can CPF be used to buy the house without a down payment?
The cpf.gov.sg website is a labyrinth of options without telling me a simple breakdown of how much will go where.
Thanks for any tips!