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Anonymous

Edited 04 Oct 2021

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If I want to top up $10k into my dad’s CPF. Should I top up $7k via cash straight into his CPF, then another $3k into my CPF and then xfer from my CPF to his CPF?

I believe the cap of tax relief is at $7k each (my dad’s + my personal). Also, not sure if my pay would warrant going through so much hoops just to qualify for tax relief. My annual salary is around $45k.

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Wrong Sean

04 Oct 2021

That is possible.

Would be good to use the calculator on the IRAS to check/model what would be your payable tax first?

https://www.iras.gov.sg/irashome/Quick-Links/Ca...

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tinycents

04 Oct 2021

Sounds like a great plan. best way to get all possible rewards.

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Hi I’m a 24 years old working freelance with about 3k of spare cash every month. Should I top up my CPF? If yes, should I top up directly to SA or MA or all 3?

Does cash top-ups to one another's CPF accounts for loved ones also qualify for a tax rebate?

How can I max my SA if CPF says I am unable to contribute $7k cash top up to my SA as it has already met the minimum retirement sum (currently $100+k)?

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