facebookI have top up 6k for CPF medisave voluntary contribution in Jan 2020 but it does not reflect tax relief in my income tax year of assessment 2020? - Seedly

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Anonymous

31 Dec 2020

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Saving Hacks

I have top up 6k for CPF medisave voluntary contribution in Jan 2020 but it does not reflect tax relief in my income tax year of assessment 2020?

Will it reflect next year income tax? Do i have to manually filed the tax relief or system auto?

Discussion (3)

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Elijah Lee

31 Dec 2020

Senior Financial Services Manager at Phillip Securities (Jurong East)

Hi anon,

For Year of Assessment 2020, the assessment is for income earned from 1 Jan 2019 to 31 Dec 2019.

Thus if you topped up in Jan 2020, you will have to wait till around Mar 2021 to see it reflected when you are filing your taxes/reliefs.

CPF board will automatically send the information to IRAS.​​​

Ang Yee Gary

26 Dec 2020

Medicine at National University Of Singapore

Yes it should be reflected
Check that you don't exceed the cap of 80k in income relief

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