Going freelance? Here's how you should plan your CPF & finances for 2022


Going freelance? Here's how you should plan your CPF & finances for 2022

Quick summary:

1. Contributions to your Ordinary Account (OA) and Special Account (SA) are not compulsory for freelancers, but you will need to make a compulsory annual contribution to your MediSave Account after filing your taxes each year so long as you have made more than $6,000.

2. On the other hand, if you're just letting your money sit in the bank, consider making a voluntary transfer to CPF, as unlike savings account interest rates, CPF interest rates are actually good.

3. - HSBC Everyday Global Account (personal banking) - multi-currency account which supports foreign clients and other currencies

#biyro #usa #shcinternational #amsterdam #iqoptions

More: https://biyro.com/blog/freelance/going-freelance-heres-how-you-should-plan-your-cpf-finances-for-2022/

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