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Anonymous

Edited 24 Dec 2021

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If one is earning S$250,000 income a year, will topping up S$7,000 to my cpf help to reduce the taxable income? Or is there a cap? Got abit confused.. thank you!

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Wrong Sean

27 Dec 2021

You can use the calculators on IRAS to estimate your tax and also do any tax reliefs before the year ends.

https://www.iras.gov.sg/quick-links/calculators

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Tan Choong Hwee

24 Dec 2021

Investor/Trader at Home

For $250k income, you are in the 19.5% tax bracket. Refer to IRAS Income Tax Rates for residents here:

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

RSTU cap to CPF SA is prevailing FRS ($186k this year, $192k next year), but tax relief up to $7k. That $7k tax relief will reduce your taxable income to $243k.

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Justin Kieran Ong

24 Dec 2021

In your example, your taxable income becomes 243k.

For cpf top ups, they are changing how the cap w...

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