03 Jan '13, 8am

Buying a Singapore property is better than GOLD: - Page 2

High earners face major tax increase The bill approved in Congress to avert the fiscal cliff would bring the first major tax increase on high earners in 20 years. Taxpayers earning more than USD450k will face an income tax rate of 39.6% in 2013, up from last year’s rate of 35%. Taxes on capital gains and dividends for most investors will remain the same in the aftermath of the fiscal cliff deal. For individuals earning more than $400,000, rates on both dividends and capital gains jump to 20% from 15%. (In addition, as part of the deal to pay for the Affordable Care Act, those making more than $250,000 will also pay an additional 3.8% on investment income, including both dividends and capital gains.) The upshot is that for the highest earners both dividends and gains will be taxed at 23.8%.

Full article: http://forums.condosingapore.com/showthread.php?p=351332#...

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