Individual Physical Proficiency Test (IPPT) sessions for operationally ready NSmen have been suspended since 31 Mar till 30 Sep 2020.
IPPT has been finally opened for booking from 1 Oct 2020 onwards.
As fit Singaporean sons, this is either an annual national service liability to attempt and pass it or rather an opportunity to reap some monetary rewards from acing it.
For the past 10 odd years, I have been seeing this as an annual affair to earn back some money from taxes for my war chest to cover some brokerage costs for buying stocks. This is despite me being an unfit guy who seldom exercise or go for runs.
This year is no different. I passed the IPPT with 63 points and qualified for $200 incentive despite having not run for the past 6 months and merely did some push-ups and sit-ups occasionally at home. I ended up with cramps, aches all over body after the test but it's worth it.
Monetary incentives from IPPT are actually classified as active income and will be taxed.
It is an irony that passive income from interests and dividends are not taxed in Singapore while any income earned using body, mind, blood or sweat will be taxed by the government. This is how the capitalist system works and hence the more we should be motivated to own more income producing assets to generate more passive income that do not require physical effort to earn.
Thanks for reading.
With love & peace,
Qiongster
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