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This relief is given to encourage Singapore Citizens and Permanent Residents to top up their Retirement Account or Special Account under the CPF Minimum Sum Topping-Up Scheme to meet their basic retirement needs.  You will also get the relief if the top-up is made by your employer into the above accounts.

Additional relief is given to you for topping up your family members’ Retirement Account or Special Account under the above scheme.

Topping-up through transfer of funds from your own CPF Account to that of your own or 
family members' Retirement Account or Special Account does not qualify for the tax relief.

For more information on the conditions and procedures for topping up the Retirement Account or Special Account under the CPF Minimum Sum Topping-Up Scheme, please visit 
CPF website.

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Who can claim

  • CPF Cash Top-up Relief is automatically given to you if:

    • you are a Singapore NRIC holder and 
    • you or your employer has made cash top-ups to your own Special Accounts (for recipients below age 55) or Retirement Accounts (for recipients age 55 and above) under CPF's Board Minimum Sum Topping-Up Scheme
  • Additional relief will be automatically given to you for cash top-ups made by you to the following family member's Special Account (for recipients below age 55) or Retirement Account (for recipients age 55 and above) :

    • Parents or Parents-in-law
    • Grandparents or Grandparents-in-law
    • Spouse
    • Siblings 

 


Income threshold for spouse or siblings

To qualify for tax relief for cash top-ups for your spouse or siblings, they must not have an annual income (includes salary or tax exempt income such as bank interest, dividends and pension) exceeding $4,000* in the year preceding the year of top-up.

The above income threshold does not apply to parents, grandparents, handicapped^ spouse or handicapped^ siblings.

*Prior to Year of Assessment 2012, the income threshold was $2,000.
^Incapacitated by reason of physical or mental infirmity.

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How much you can claim

 

Cash topped-up

Amount of relief you can get

(a) by you or your employer to your Retirement Account or Special Account

For cash top up below $7,000:
Amount of relief = Amount of cash top up

For cash top up $7,000 or more:
Amount of relief = $7,000

(b) by you to the Retirement Account or Special Account of your spouse, siblings, parents, parents-in-law, grandparents and grandparents-in-law.

For cash top up below $7,000:
Amount of relief = Amount of cash top up

For cash top up $7,000 or more:
Amount of relief = $7,000

Maximum CPF Cash Top-up Relief per year

$14,000

Note: The capping at $7,000 is applied separately to cash top-ups in (a) and (b).



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How to claim

You do not need to claim this relief as it will be granted automatically based on your eligibility and records sent to us by CPF Board. 

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FAQ

Q1.  I have received my tax bill for the Year of Assessment (YA) 2014.  The amount of CPF Cash Top-up Relief is not correct.  What should I do?

Please write to us email, fax or post within 30 days from the date of your tax bill, stating your request to revise the relief for YA 2014.

 

 

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Last Updated on 4 November 2014


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