Can i get tax relief if i topup my parents' medisave account? - Seedly
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Asked 5d ago

Can i get tax relief if i topup my parents' medisave account?

From what i recall, we can get tax relief if we topup our own MA voluntarily. If i were to topup my parents' medisave account with my bank account, will i be able to get any tax relief?

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Kenneth Lou
Kenneth Lou, Co-founder at Seedly
Level 9. God of Wisdom
Answered 5d ago

Yes you do get tax relief! up to $7k a year :)

me and my brother pan to do it this year for our mother's account, it will be tax deductible.

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ūüĎć
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Yang Teng
Yang Teng
Top Contributor

Top Contributor (Aug)

Level 9. God of Wisdom
Answered 5d ago

Retirement sum topping up scheme (RSTU) is only to SA/RA accounts. You can help build your parents' medisave account by helping to pay for their medisave premiums and still gain tax benefits: https://investmentmoats.com/uncategorized/how-you-can-pay-for-your-parents-medishield-life-premiums-and-top-up-your-cpf-medisave-for-tax-reliefs/

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ūüĎć
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Thank You!
Can you clarify
I wonder if
This is so helpful ūüĎć
What about
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