CPF Basic Healthcare Sum to rise to $79,000 for those under 65 from Jan 1
https://www.straitstimes.com/singapore/cpf-basic-healthcare-sum-to-rise-to-79000-for-those-under-65-from-jan-1
If you have met your FRS you won't be able to top up your SA. Starting today your MA limit is raised from 75,500 to 79,000. You can quickly do a top up of 3,500 to less tax for self cpf top up (up to $8k a year) before your salary credit CPF in. This adds on top of what you contribute into SA. A maximum of $8k a year less income assessed.
Why not do it end of the year? Cos CPF interest is incurred monthly, you lost out of interest doing it at the end of the year. That is if you have a higher interest in earning above 4%.
CPFB | How is my CPF interest computed and credited into my accounts? https://share.google/0nBrbEtyMWlzRM4Ue
CPFB | Earning CPF interest https://share.google/uTzvYziFoFNzqABz0
#tips #lesstax #singapore
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