facebookHi all! Would like to enquire about income tax relief for topping up parent’s CPF account. Any advice if there is an income threshold for parents? - Seedly

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Anonymous

24 Jun 2020

CPF

Hi all! Would like to enquire about income tax relief for topping up parent’s CPF account. Any advice if there is an income threshold for parents?

I viewed IRAS’s FAQ and the website only mentioned the spouse or sibling must not earn more than $4k. The website did not mention if there is any income threshold for parents. Reason being I want to top up my mom’s CPF account but she intends to find a job.

Discussion (3)

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If you referring to RSTU, tax relief is $7k/yr for yourself and additonal $7k/yr for your loved ones (1 pax only) so max is $14k/yr.

Theres no restriction / requirement for income threshold for parents

Elijah Lee

24 Jun 2020

Senior Financial Services Manager at Phillip Securities (Jurong East)

Hi anon,

There is no income threshold for parents. As stated on the IRAS website:

This income threshold does not apply to parents, grandparents, handicapped spouse or handicapped siblings.

So even if she finds a job, it won't affect you topping up her CPF SA/RA.

Nigel Tan

24 Jun 2020

Executive Senior Financial Planner at Great Eastern Life

The income threshold of $4k per year only applies to spouse and siblings.

Parents and grandparents...

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