Taxi self employed question
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When I receive taxi vocational licence, cpf automatic add me in as a self employed member. They will send a medisave letter every yr.
If I no longer drive taxi, can I opt out of being a self employed person status in cpf?
If want to hold taxi vocational licence but not driving taxi, I must need to remain as a self employed status in cpf?
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Medisave contribution is based on your income declaration as a self employed person.
unless its zero income for u, then I doubt they request u to pay..
am I right?
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Once you are employed, is the responsibility of your employer to notify CPF board.....
By than you also need to start contribute compulsory CPF as employee.....
Your status of self employed will cease from there lor.....
Than definitely your contribution of CPF will split into Ordinary, Special and Medisave account accordingly by percentage.....
So when time cum for renewal of TDVL, from your CPF status, they will know you are employed and notify LTA lor.....
Than you will fall under not active TD lor.....
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If you under employment and moonlight as TD.....
The 1 you need to scare is your current employer lor, nothing to do with CPF board, LTA or taxi coy.....
Becos they contribute CPF for you mah.......
Some coy don't allow their staff to moonlight, regardless of what kind of jobs you are doing secretly.....
So check with your current employer properly before you want to part time driving taxi lor.....
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Once your Medisave is contribute constantly thru full time employment......
When time to renew TDVL, LTA won't assess your status as self employed lor......
That's why, most time, you need not have to top up Medisave if not active TD but holding full time job.....
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People here holding taxi license and no longer driving taxi, and not working or working as employee, does CPF still put you as self employed?
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Originally posted by sg11:
People here holding taxi license and no longer driving taxi, and not working or working as employee, does CPF still put you as self employed?
If you are not employed and not active in TD.....
CPF board will look at your Medisave contribution.....
Becos is a veto in order to renew your TDVL.....
If no contribution at all, most likely have to top up before you can renew unless your Medisave account got substantial amount inside lor......
This self-employed term don't really so important.....
When renewal cum, every 3 years, things they look out for is your Medisave, medical checkup, refresher course.....
Of course if active TD, good lor, tia gong got discounted rate for renewal fee.....
If non active, than non active lor.....
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1 thing you must understand, this TDVL is just only a licensing issue by LTA.....
Once granted extension, basically we are safe for at least 3 years.....
During this period, you can be an active or non active TD.....
But when cum to renewal time, whatever you have been doing for the past few years will be assess again.....
Than the cycles goes round again.....
So during this few years, if you have not been employed or driving taxi, not even contribute a single cent to Medisave(if your account is low), non declaration of IRAS, than be prepare to get knock by LTA lor.....
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Just conclude it in few sentencse lah, so lor sor. Govt needs your money in medisave for them to invest. Refresher course is for lecturers income. Renewal fees is for LTA to pay Ah Liu and his men paid
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Got lor sor than you meh?.....
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if i declare 2k income, how much Medisave i need to pay a year?????
thanks
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7% of yr annual income if you are below 35yo, abt 8% if you are above 40 and so on, highest can be 9%, as you work and aged, the contribution increases, but once you retired, no more income, everything stopped. Earning per annum also play a part, as most of us are earning above 18,000 per year shall fall into the above, so for yr case, $2k per month, annual will be 24k, medisave 7% of 24k..compulsory
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As I mentioned earlier in some post, govt is going to introduce medishieldlife come June, and for that, medisave will increase more..coming soon.
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You can qualify for Workfare Income Supplement (WIS) Scheme if you:
A) are a Singapore Citizen;
B)are 35 years old or over on 31 December of the work year;
C) work at least two months in a three-month period;
D)earn an average gross monthly income1 of not more than $1,900 for the period worked;
E) live in a property with annual value of no more than $13,000 assessed as at 31 December of the preceding year;
F) do not own two or more properties; and
G) have completed the necessary income declaration and Medisave contribution requirements;
If you are married,
1) you and your spouse together must not own two or more properties; and
2) the assessable income of your spouse must not exceed $70,000.
Your age in work year 2013 You can get up to ( gov will give you )
35 - 44 $1,400
45 - 54 $2,100
55 - 59 $2,800
60 and above $3,500
http://www.workfare.sg/wis-employee.htmlCPF Call Centre ( Hotline Very Very Hot )
1800-227-1188 -
Originally posted by TTan65:
You can qualify for Workfare Income Supplement (WIS) Scheme if you:
A) are a Singapore Citizen;
B)are 35 years old or over on 31 December of the work year;
C) work at least two months in a three-month period;
D)earn an average gross monthly income1 of not more than $1,900 for the period worked;
E) live in a property with annual value of no more than $13,000 assessed as at 31 December of the preceding year;
F) do not own two or more properties; and
G) have completed the necessary income declaration and Medisave contribution requirements;
If you are married,
1) you and your spouse together must not own two or more properties; and
2) the assessable income of your spouse must not exceed $70,000.
Your age in work year 2013 You can get up to ( gov will give you )
35 - 44 $1,400
45 - 54 $2,100
55 - 59 $2,800
60 and above $3,500
http://www.workfare.sg/wis-employee.htmlCPF Call Centre ( Hotline Very Very Hot )
1800-227-1188Must pay medisave,if not never give u!
I only earn $1k per month,,,,48 yrs old,so medisave around $3xx,,,!
i just appeal to them n top up $ into medisave to get my workfare $!
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You can use the Workfare Calculator to find out how much you need to contribute to Medisave and also how much $$ you can get from the gov.
https://www.cpf.gov.sg/cpf_trans/ssl/financial_model/wis/wis_calc.asp
Select "Disclaimer"...."Self Employed".... Date of Birth.... Annual Delcared Income.... Calculate.
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last year when i calculate 1.6k p mth, my medi cost me bout 1300
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How about those full time super reliefs?
how they calculate?
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Then declare yourself not full time lah, like me, casket, super relief, normal relief, yard contractor, car downloader, funneral helper..how? you declare, IRA also dunno what to do? so never declare, IRA happy, i happy
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You guys very sure you all will declared that kind of low income in order to get this smlj WIS?.....
D)earn an average gross monthly income1 of not more than $1,900 for the period worked;
Taxi pai dang?.....
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Cheng Hu money dun anyhow take lah, later hv to give back more...this type is to lure you in to declare, then, from there, they will start to trace you, end up...hv to pay back thru Income tax