When you make voluntary cash top-ups to (i) your MediSave Account or (ii) your loved ones, you can enjoy tax relief for cash top-ups made in each calendar year of up to:

 

1. $ 8,000 if you make a top-up to yourself ; and
2. an additional $ 8,000 if you make a cash top-up to your loved ones *.

* Loved ones refer to parents, parents-in-law, grandparents, grandparents-in-law, spouse and siblings.

 

To qualify for tax relief for cash top-ups made to spouse/siblings, the recipient must (i) not have an annual income exceeding $8,000 in the year preceding the year of cash top-up (e.g. salary, tax exempt income such as bank interest, dividends and pension), or (ii) be handicapped.

 

Please note the above tax relief cap applies to both voluntary cash top-ups to MediSave Account and Special/Retirement Account. You can find out more on the conditions to qualify for tax relief.