Anonymous
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
14 Sep 2020
Co-founder at Seedly
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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Retirement sum topping up scheme (RSTU) is only to SA/RA accounts. You can help build your parents' ...
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The tax relief is only if you top up to your own MA account.
In the CPF website, you are only able to top up to own Medisave account, unlike your own or recipient SA.
If you top up using your bank account, your parents will get the tax relief.