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Do I get tax relief for my voluntary top-up to my or my loved ones' MediSave Account?

When you make voluntary cash top-ups to (i) your MediSave Account or (ii) your loved ones (who are not self-employed persons with outstanding MediSave liabilities), you can enjoy tax relief for cash top-ups made in each calendar year of up to:

  1.  $ 8,000  if you make a top-up to yourself ; and
  2.  an additional $ 8,000  if you make a cash top-up to your loved ones *.

* Loved ones refer to parents, parents-in-law, grandparents, grandparents-in-law, spouse and siblings.

To qualify for tax relief for cash top-ups made to spouse/siblings, the recipient must (i) not have an annual income exceeding $8,0001 in the year preceding the year of cash top-up (e.g. salary, tax exempt income such as bank interest, dividends and pension), or (ii) be handicapped.

Please note the above tax relief cap applies to both voluntary cash top-ups to MediSave Account and Special/Retirement Account. You can find out more on the conditions to qualify for tax relief.

1The income threshold for tax relief for cash top-ups to spouse or sibling has increased from $4,000 to $8,000 and will apply to cash top-ups made on 1 January 2024 or after.

If you made a cash top-up to your spouse and/or sibling between 1 January 2024 and 16 February 2024 and wish to claim tax relief for the top-up made due to the increase in income threshold, you may submit an application to update your tax relief records for top-ups made in 2024.