Anonymous

24 May 2020

∙

When you withdraw from your SA at age 55, do you have to pay income tax on it?

This is because I know that if you withdraw from SRS, you have to pay income tax, so I was wondering if this was the same for SA.

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Pang Zhe Liang

23 May 2020

Fee-Based Financial Advisory Manager at Financial Alliance Pte Ltd (IFA Firm)

No, there is no tax on withdrawal for Special Account.

I share quality content on estate planning and financial planning here.

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Related Posts

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?

After setting aside the FRS, does withdrawal from CPF (from age 55 onwards) incurred income tax?

47 years old, 2k in oa and 64k in sa, and 55k in ma, 25k to pay off hdb loan how much must I have in sa to reach the frs at age 55? and once u hit the frs at age 55. u still only can take out 5k?

For CPF, after age 55, can top-up any amount in SA account to earn the 4% interest rate, eg $50k? And afterwhich can withdraw any amount anytime? Or have to top-up just below age 55?

Under RSTU, does OA to SA CPF transfer contribute into RA at age 55? Will the transfer be counted into the withdrawal at age 55?