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Pro Tip: If you have 2 properties, one for deriving rental income, for tax planning, you might want to maintain your loan for the investment property as high as possible to maximize your interest expense deduction and thereby, reduce your net rental income.. this means if you have spare cash and wish to reduce your overall debt, you should reduce your own stay property as the own stay property has no income element

@savvyericchiew

3 ай бұрын

Very good tip! 👍👍

Extremely useful! Thanks!

@savvyericchiew

3 ай бұрын

🙏🏼🙏🏼

Great video again!

@savvyericchiew

3 ай бұрын

🙌🏼🙌🏼

Very informative, Sifu Eric 🙏

@savvyericchiew

3 ай бұрын

🙌🏼🙌🏼

Hi Eric, looking to buy a 3BR condo, should buy a new launch in one of Grand Dunman, Tembus Grand or Continuum (but have to rent for 3 years until TOP), or buy a D15 resale condo which is ready to move in? Love to hear your views. Thank you.

@savvyericchiew

3 ай бұрын

You have very good budget for city fringe. If you need me to recommend good projects and guide you to buy at my target price, consider 1-1 consultation program. Get details from my team here bit.ly/savvywa

what do you think of Ecopolitan?

Doorknob???? Ohajajahajajaah. Sibey suan Eric. Really love your videos. Even on lazy Sunday afternoon. I can also find authentic jokes from your video. Hahahaha. Awesome video overall seriously. Lol

@savvyericchiew

3 ай бұрын

Glad you love it! 😆😆

Hi Eric, what do u think about Sims Urban Oasis?

@savvyericchiew

3 ай бұрын

i only know dont have 2b2b in this 1024 units project 😂

thank you shifu

@savvyericchiew

3 ай бұрын

🙏🏼🙏🏼

What do you think of botanique bartley 3b2b?

@savvyericchiew

3 ай бұрын

Nothing to eat there 😢

👋🏼👋🏼Master Chiew good evening!

@savvyericchiew

3 ай бұрын

Yo yo Huat kueh!

Eric, if u choose 15% expense, u still can put in mortgage interest as deduction

@savvyericchiew

3 ай бұрын

Don’t think so but you can try 👍

@weijinlee3606

3 ай бұрын

@@savvyericchiew yap, hv been doing this for few years

@sevisons

3 ай бұрын

Yes I did the same, using 15% expense can still add on the mortgage interest for deduction.

@TheBebemom

3 ай бұрын

Yes we did this every year

Timely reminder for April

@savvyericchiew

3 ай бұрын

👍👍

Hi Eric, how to reach you for 1-1 mentorship?

@savvyericchiew

3 ай бұрын

My team will send you 1-1 info here bit.ly/savvywa

You could leave the 15% checked, and in addition, also add the mortgage interest, right? That's what I see on my page and that's also shown on your video...

@savvyericchiew

3 ай бұрын

Yes but still not worth it cos maintenance and property tax alone is 15%, not to forget other expenses

Double taxation.....paid increased property tax % yearly under property that was rented out and still tax the rental income from the same leased property! But as some ppl say...they are the law loh!😆😆😆

@savvyericchiew

3 ай бұрын

Wealth tax means you are Huat too 😆

Review The Hill @ one north pls

@savvyericchiew

3 ай бұрын

Sure!

@crestz1

3 ай бұрын

@@savvyericchiew propnex estimated $2600 psf 😔

@savvyericchiew

3 ай бұрын

@@crestz1 I haven’t do any research. If this is under new harmonisation calculation, is around $200psf more. City fringe is normally at $2400, so $2600 is correct. If not it will be at $2400 👍🏻

@crestz1

3 ай бұрын

@@savvyericchiew Thanks bro for replying. Subscribed 😄

@savvyericchiew

3 ай бұрын

@@crestz1 appreciate! 🙏🏼🙏🏼

I thought you wanted to share how much of income tax you pay sia

@savvyericchiew

3 ай бұрын

No rental income tax to share 😆

I think we all want to know if Eric's income tax is higher than our take home pay a not. Hehehe.

@savvyericchiew

3 ай бұрын

It will be my honor 😂

Eh...15% Deemed expense still can deduct Mortgage Loan Interest. You may wish to correct yourself.

@david888a

3 ай бұрын

Unchecked the 15% n do manual deductions including the mortgage interest…Eric is correct …

@Brightyization

3 ай бұрын

@@david888a You can deduct mortgage interest under actual expense or deemed expense. You can refer to the IRAS rental calculator to see what I mean.

@weijinlee3606

3 ай бұрын

You are right.

@savvyericchiew

3 ай бұрын

Yes you are correct. However for my example, 15% deemed exp + mortgage loan is not worth it. Cos maintenance fees + property tax is already at 15%. Still haven’t include agent fees and other expenses. You can play with the calculator, whichever lesser tax works for you then do it that way 👍

Luckily Eric you never teach top up CPF SA with cash to reduce income tax 🤭

@savvyericchiew

3 ай бұрын

I don’t even know you can do that 😂

@lauratan7674

3 ай бұрын

@@savvyericchiew yea this kind of 1m65 nonsense better not know, else Mr Bom Bom will disown you 🤣

Mr loo 1m65 pay much less cause he got capital gains and live hdb lol. Should include this in your comparison with him

@savvyericchiew

3 ай бұрын

😂😂

Hi Eric! Thinking of buying 2Br condo. Is Stirling Residences a good buy at current price or should I wait for Margaret Drive GLS tender to be done to decide? 🥲

@savvyericchiew

3 ай бұрын

Highly depends on budget 👍