I do not have outstanding MediSave payable as a self-employed person. Can I make MediSave contributions to offset my future payables?
You may make MediSave contributions to offset your future payables, up to the prevailing CPF Annual Limit.
The total CPF contributions (voluntary and mandatory CPF contributions) made for the calendar year should not exceed the prevailing CPF Annual Limit. Any contributions made in excess of the CPF Annual Limit will be refunded without interest.
The Board must receive the MediSave contributions by the last working day of the year for them to be counted towards the year’s CPF Annual Limit. Backdating of MediSave contributions to previous years is not allowed.
You can enjoy tax relief on your MediSave contributions, if eligible, based on your annual net trade income.
