Can my dad (who is working) and me who is working, contribute to my mum's CPF RA (she currently has zero income, get 7k of tax relief each?

If my dad contribute 7k already, means I cannot contribute 7k and expect to get a tax relief?

Discussion (2)

What are your thoughts?

Learn how to style your text

Loh Tat Tian

20 Apr 2020

Founder at PolicyWoke (We Buy Insurance Policies)

The tax relief is for each person contributing. So both you and your dad will get the 7k tax relief (up till your mum one hits FRS). 2 person contribute just means in the future, no more tax relief lo lol!. but good thing also if you hit it faster.

Save

View 1 replies

Write your thoughts

If you are above age 55 with cpf>FRS and still working, are you able to withdraw 7k and put in the same 7k for income tax relief?

Would it be better for me to 1) Contribute to CPF SA to generate a guarantee 4% return and at the same time get tax relief OR 2) Purchase and annuity plan that provides monthly income from retirement?

I have been using CPF to service my HDB loan. I have also contributed to my CPF SA to get tax relief. I was thinking what is a wiser way..?

I have top up 6k for CPF medisave voluntary contribution in Jan 2020 but it does not reflect tax relief in my income tax year of assessment 2020?

I'm currently working as a freelancer, getting 2-2.2k per month without CPF contribution. However my expenses are also 2-2.5k per month. Any ideas on how to better manage my situation?

If you are above age 55 with cpf>FRS and still working, are you able to withdraw 7k and put in the same 7k for income tax relief?

I have been using CPF to service my HDB loan. I have also contributed to my CPF SA to get tax relief. I was thinking what is a wiser way..?

I have top up 6k for CPF medisave voluntary contribution in Jan 2020 but it does not reflect tax relief in my income tax year of assessment 2020?

I'm currently working as a freelancer, getting 2-2.2k per month without CPF contribution. However my expenses are also 2-2.5k per month. Any ideas on how to better manage my situation?