Posts Tagged ‘CPF’

Minimum Sum topping up Scheme

What: The government will reward you with tax benefit up to $14,000 a year if you use cash to top you and your family CPF account. $7000 tax relief if you use cash to top up your own and additional $7000 if you use cash to top up your siblings/Spouse/parent/grand parent. Conditions: 1) Your Siblings/spouse/parents…

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CPF changes from budget 2011 is good news right?

2 key changes to the CPF contribution took place in the recent 2011 budget announcement. Generally good news for employees and not so good news for employers (see table below for details). Here is are the changes: 1) Increase contribution ceiling from $4500 to $5000 2) Increase contribution from employer from 15.5% to 16% So in general good…

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