I've been reading around quite a bit the last couple of days and I feel the salary I have in mind will work out fine in terms of being able to live comfortably and save. I'm just now trying to figure out if it's acceptable for the responsibilities of the position on offer.
I was wondering if anyone feels the high rent costs (3000-4000 is my outlook, living alone) make up for the lack of high taxation? In that, does it feel like you're left with as much free cash at the end of the month as you would have in a place with a higher tax percentage? (Say 33%) I'm going off an almost exact conversion of my old salary on Euro into SGD and at the moment it looks like it'll be fine. Has anyone found/wished they'd added a bit of inflation to theirs if they followed this method?
Also, can anyone explain this part of the tax for me?
Taken from: http://www.mof.gov.sg/taxation/indiv_in ... rates.html
On the first S$80 000 0% S$4 300
On the next S$80 000 14% S$11 200
The last sum being the Gross Tax Payable. Does this mean that until 80k has been earned in Singapore, the max payable is 4 300? Once going over that, it's 14%? And does it reset each tax year?
Thanks very much