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Anonymous
Hi, I’ve been depositing $1k every month into my VC CPF all three accounts. I’m a self employed. Will they lower my tax? Thank you!
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https://www.iras.gov.sg/irashome/Individuals/Lo...
There should be relief on the CPF contributions if it not over the cap. You can refer to the section on CPF contributions relief. The relief is deducted from the assessable income.
Depending on the final assessable income level and tax bracket, the tax payable may be lower. Please check with your tax advisor.