What are the conditions for applying to limit my MediSave payable as a self-employed person?
You can apply to limit your MediSave payable if your total employment income (excluding Additional Wages) for the year exceeds the maximum total annual income.
Additional Wages are wage supplements which are not granted wholly and exclusively for the month. Examples are the annual bonus, leave pay, incentive and other payments made at intervals of more than a month.
Please refer to the table below for the total employment income (excluding Additional Wages) that qualifies you to limit your MediSave contributions as a self-employed person.
Year
|
Maximum Total Annual Income (excluding Additional Wages)
|
1993 - 2003
|
$72,000
|
2004
|
$66,000
|
2005
|
$60,000
|
2006 - 2010
|
$54,000
|
2011
|
$56,000
|
2012 - 2015
|
$60,000
|
2016 - 2022
|
$72,000
|
2023
|
$73,200
|
2024
|
$81,600
|
2025
|
$88,800
|
2026 onwards
|
$96,000
|
