Using SRS contributions to invest in the StashAway Simple account, you can reduce your taxable income by SGD15,300 per year and save the maximum payable tax by up to SGD3,366 per year but subject to your tax bracket. Furthermore, you can hold 2 Simple accounts with StashAway at the same time. One for your wealth, and the other for your SRS contributions, so you should utilize the full benefits of both worlds. Besides, you can enjoy a 50% tax concession and withdraw the distributions for up to 10 years to minimize the tax.