Income year assessment is from 1 Jan 2019 to 31 Dec 2019 right? Means i must faster top up $7k to my SA if i want the tax relief for financial year 2019 is it? - Seedly
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Anonymous

Asked on 23 Dec 2019

Income year assessment is from 1 Jan 2019 to 31 Dec 2019 right? Means i must faster top up $7k to my SA if i want the tax relief for financial year 2019 is it?

Does anyone know if i can split the top up? Eg, 5k today and 2k tmr?

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Geraldo L.
Geraldo L.
Level 7. Grand Master
Answered on 06 Mar 2020

Yes, the funds have to reach CPF by the end of the calender year and the fastest you can do so is via PayNow QR.

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Rais M
Rais M
Level 7. Grand Master
Answered on 06 Mar 2020

Yes. You must top up before the end of the financial year. In fact, it is recommended you top up the $7k early in the year so as to maximise the interest of 4% you can earn throughout the year.

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Ernest Yeam Wee Leong
Ernest Yeam Wee Leong
Level 7. Grand Master
Answered on 23 Dec 2019

Yes, you have until next week deadline to do it.

Did my in the past week also.

I write cool stuff about personal finance and money-saving hacks here.​​​

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Yes and yes, you can top up 20/day for 350 days also can. :)

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