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

      Top Contributor (Jan)

      232 Answers, 331 Upvotes
      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
      38 Answers, 105 Upvotes
      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

    Top Contributor (Jan)

    458 Answers, 621 Upvotes
    22 Nov 2018

    It counts! :)

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