Will the estimated income that I provided for the computation of my Contribute As You Earn (CAYE) contribution rate be used as the income to compute my MediSave payable?
The estimated income information you provided via the Contribute As You Earn (CAYE) digital services is only used to compute the CAYE contribution rate. It will not be used as your actual income to compute your MediSave payable for the year.
You will still need to declare your actual net trade income (NTI) to the Inland Revenue Authority of Singapore (IRAS) in the following year. Your MediSave payable for the year will then be computed based on your assessed NTI.
This information is sourced from CPF
Related questions
How will participating in Contribute As You Earn (CAYE) affect my MediSave contributions payable?
Why do I still need to declare my income to the Inland Revenue Authority of Singapore (IRAS) when I have already provided my estimated income via the Contribute As You Earn (CAYE) digital services?
Under Contribute As You Earn (CAYE), how much MediSave contribution would I have to make from my service fee?
Will I get into trouble if my actual income declared to the Inland Revenue Authority of Singapore (IRAS) in the following year is different from the estimated income which I provided via the Contribute As You Earn (CAYE) digital services?
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