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Anonymous

21 Dec 2020

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When is the last day to top up MA and SA for tax reduction 2020? SRS will be 31 Dec?

Wondering when is the last day to top up MA and SA for tax reduction 2020?

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Wrong Sean

21 Dec 2020

Do it a few days before 31 Dec in order for the transaction to clear. Although with PayNow now, it is pretty much immediate for SA top ups.

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If my SA account has reached FRS balance (181k for this year). For tax relief next year, should I top up cash $7K to SA or OA by Dec 2020 or Jan 2021?

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If my SA account has reached FRS balance (181k for this year). For tax relief next year, should I top up cash $7K to SA or OA by Dec 2020 or Jan 2021?

Income year assessment is from 1 Jan 2019 to 31 Dec 2019 right? Means i must faster top up $7k to my SA if i want the tax relief for financial year 2019 is it?

Want to top up Medisave for tax relief, but my monthly pay varies for me to calculate how much exactly. How should I do so? MA then SRS and SA or simultaneously?

Which do you prioritise for tax reduction, SRS or topping up SA?

Would like to check if I top up $7K to my CPF SA account, does it mean that I could only top up to $8.3K in SRS so that I max out $15.3K maximum contribution per SRS limit for tax deduction?

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