An eligible citizen National Serviceman will be awarded between $5,000 and $5,500 by the time he completes his Operationally Ready National Service training cycle. The awards disbursed to your Post-Secondary Education Account and CPF MediSave/Ordinary Account are tax-exempt.
New! From 1 Apr 2022, an additional $2,000 is disbursed to National Servicemen in credits via the LifeSG mobile application. These are taxable at the time when MINDEF credits the amount to the LifeSG account.
Reporting NS HOME Award
You do not need to declare the taxable value of the LifeSG credits in your Income Tax Return as MINDEF will transmit the information to IRAS.