Asked by Anonymous

Does voluntary top up to our CPF MA counts towards reduced income tax? Or does it only count for CPF SA top up?

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  • Loh Tat Tian
    Loh Tat Tian
    Level 6. Master
    Answered on 22 Nov 2018

    For CPF MA top-up,

    If you are an employee, you can write in to your HR to credit more into your medisave (which also allows them additional 1% tax relief for the company), while you enjoy tax relief from the employment.

    If you are a self-employed, yes, you will enjoy reduced income tax (depending on your tax bracket). You must declare your self-employment to CPF too.

    CPF SA top up confirm counts towards tax-relief (ceveat, its only reserved for FRS, can't use it for BRS).

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  • Xinyi Lum
    Xinyi Lum, Content Strategist at Seedly
    Level 5. Genius
    Answered on 22 Nov 2018

    Yes, it counts!

    From IRAS website: "...Voluntary Medisave (VC-MA) contributions may be claimed as tax reliefs to reduce the amount of tax payable."

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  • Yong Kah Hwee
    Yong Kah Hwee
    Level 6. Master
    Answered on 22 Nov 2018

    It counts! :)

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  • Lok Yang Teng
    Lok Yang Teng
    Level 6. Master
    Answered on 22 Nov 2018

    Top up of CPF MA counts too! Here's some conditions by IRAS: Tax Relief for Voluntary Contributions

    You may claim tax relief for your voluntary Medisave contributions if:

    • You are a Singapore Citizen or Permanent Resident;
    • You have made voluntary contributions to your Medisave account in the previous year; and
    • You derived any source of income (e.g. from rental, director's fees, etc.) in the year you made the voluntary contributions.
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