For effective tax planning to reduce one''s income tax payable, please advise whether one should make SRS contribution first followed by CPF top up or vice versa? What are the benefits of SRS over CPF top ups or vice versa in terms of timing of withdrawals, amounts, etc?
Submitted by: Stella
Generally speaking, if one can claim tax relief for both the SRS and CPF top up, one should make the CPF top up then followed by SRS contribution. CPF and SRS are subject to different rules and conditions and they serve different objectives in the process of retirement planning.
