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HL Low

24 Dec 2022

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Within this yr June 22 and December 22 I have TopUp my mom RA account and my MA account. Do I entitled the tax relief for next year?

Age 33 this year, below is the amount I have TopUp.

Mom RA account - $1,500

My MA Account - $1,400

How much tax relief do I get for next year?

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Tan Choong Hwee

Edited 18 Jan 2023

Solutions Specialist at Providend

Yes, you are entitled to a total of $2,900 tax relief in next year income tax assessment, assuming you and your mom RA didn't hit the prevailing FRS after the top up.

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Ace

27 Dec 2022

Just add up what you top up - i.e. $2,900. For top up this year 2022 is entitled for tax relief next year 2023.

Actually FYI, I noticed we can also check the tax relief for top ups in our CPF - just login Singpass to CPF website - scroll down to DashboardRetirement DashboardScroll down to Tax Relief for 2022 - the amount of tax relief you can get is stated there. It also states the amount you still can top up...

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