Do I enjoy tax relief for cash top-ups made to persons with disabilities?

If you are making a cash top-up to a member eligible for the Matched Retirement Savings Scheme (MRSS), including persons with disabilities, the first $2,000 of your cash top-up will enable your recipient to enjoy the matching grant of up to $2,000 per year from the Government and will thus not be eligible for tax relief.
You can continue to enjoy tax relief of up to $16,000 a year for your cash top-ups that do not attract the MRSS matching grant ($8,000 per year for top-ups to yourself and another $8,000 per year for top-ups to your loved ones).
Find out more on the conditions to qualify for tax relief.
This information is sourced from CPF
Need more help?
Get in touch