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Anonymous

30 Dec 2020

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How is CPF tax relief calculated for people with contributions starting mid-year?

I want to make a voluntary contribution to Medisave to increase my tax relief, but unable to determine maximum allowed tax relief as I have started my CPF contributions from mid of this year (due to residency status change as Permanent Resident). I am confused if the 'annual CPF contribution cap' of $37,740 applies to my case as well.

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JK

30 Dec 2020

Salaryman at Random Company

Basically, any amounts that your employer had taken out of your salary to put into your CPF. Take note that it is only the amounts taken out of your salary, not the additional portion that your employer pays for your CPF.

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