As a self-employed, should I do CPF contribution to all 3 accounts, SA or MA first?

Hello all,

I'm a self-employed and have started my CPF contribution recently to all three accounts. The main reason for choosing this option (instead of RSTU or MA) is because I'll be getting my BTO in the next two months and I figured I can get tax relief as well as use the money in my CPF OA to pay for the house.

Once I've gotten the house im planning to pay the monthly installment by cash and then do monthly CPF topups to either my MA or SA.

is this a sound strategy for my monthly CPF topups? And should i focus on MA or SA first?

4

Discussion (4)

What are your thoughts?

Learn how to style your text

Emma

Edited 08 Dec 2023

Hi OP, a self-employed person's contributions to CPF will definitely look much more different than a salaried person's contributions. You might actually find it useful to check out this article which not only talks about CPF but also income tax :)

Reply

Save

View 1 replies

Elvan Tong

26 Nov 2023

You could look at tax planning as well. Since there is a cap on individual account top-ups for tax relief, VC3A might help to contribute to a higher tax relief. This is highly dependent on the amount of annual income you earn:)

Reply

Save

tinycents

21 Nov 2023

No right or wrong, see what's your preference in your different layers of strategy. if house is cons...

Write your thoughts