DanHayashi

02 Jan 2022

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Does your monthly salary contribution to SA form part of the CPF Cash Top Up for Tax relief?

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Wrong Sean

02 Jan 2022

Monthly salary contributions are considered as mandatory CPF contributions. Required by law.

https://www.cpf.gov.sg/member/cpf-overview

And there is tax relief on your mandatory employee CPF contributions too.

https://www.iras.gov.sg/taxes/individual-income...

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Tan Choong Hwee

02 Jan 2022

Solutions Specialist at Providend

No, it doesn't. CPF Cash Top Up for tax relief refers to RSTU (Retirement Sum Top Up) where you top up your SA voluntarily.

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CPF top up to Special Account - After hitting the SA limit, can I invest using SA such that I do not meet the limit and top up SA with cash for tax relief? After top up, I liquidate back to SA.

If today you’re a self employed and have $20k set aside for tax reduction, which would you choose and why? CPF voluntary contribution VS CPF Cash Top up relief VS SRS contribution?

My current main investment mode is monthly investment plan in STI ETF. Topping up CPF SA seems likes an attractive option at 4% p.a. and tax relief. Is there ever a possibility of losing CPF money?

Would it be better for me to 1) Contribute to CPF SA to generate a guarantee 4% return and at the same time get tax relief OR 2) Purchase and annuity plan that provides monthly income from retirement?

Is it worth doing cash top up to CPF (~$500) for tax relief if my tax is only $10? At which threshold should I consider cash topup to CPF instead? (Assuming I have already exhausted all other relief)