What is the cut-off date for self-employed MediSave contributions to be eligible for tax relief?
To be eligible for tax relief for the year, the MediSave contributions made by self-employed persons must be credited to their CPF accounts by the last working day of the year.
If you have made MediSave contributions during the year, the contribution amounts will be automatically transmitted to the Inland Revenue Authority of Singapore (IRAS) for tax relief in the following year.
There is no tax relief for your MediSave CPF contributions if your assessed net trade income for the year of assessment is zero or negative.
For more details on tax deductions, please visit the IRAS website or call the Individual Income Tax / Property Tax Helpline at 1800-356-8300.
This information is sourced from CPF
Related questions
I do not have outstanding MediSave payable as a self-employed person. Can I make MediSave contributions to offset my future payables?
When is the deadline to make my MediSave contributions?
I am a self-employed person and I have made contribution to my CPF account. How do I claim the CPF relief?
What benefits do self-employed persons enjoy from making MediSave contributions?
Need more help?
Get in touch