In computing your self-employed MediSave contributions, we will first take your annual net trade income (NTI) assessed by IRAS [A], and deduct your net earnings from platform work as declared to CPF Board by your platform operator(s) [B]. The remaining income [C]* is stated in your notice of CPF contributions for self-employed persons, and will be used to compute your mandatory MediSave contributions.
* [C] = [A] – [B]
To verify the income stated in your notice of CPF contributions
[C], you should first ensure that you have declared each source of income from self-employment and platform work separately to IRAS. Refer to
IRAS’ guide for details. You can then download your consolidated statement from IRAS to verify the income shown in your notice of CPF contributions:
- Log in to IRAS’ tax portal
- Navigate to Inbox > View notices > Individual
- Select the notice that you wish to download, and click “Download selected”
- Your consolidated statement will show the breakdown of your income (in the “Adjusted profit/loss” row), by nature of business.
- E.g. assume you are a freelance tutor and private hire car driver. You can verify the NTI stated in your notice of CPF contributions [C] against the “Adjusted profit/loss” reflected under “Tutor/Lecturer” in your consolidated statement.
If you are on paper returns for tax filing and are not issued a consolidated statement, you can follow the same steps above and verify against your paper individual Income Tax Return (Form B) instead.
If you have difficulties accessing the tax portal, locating notices issued by IRAS, or need to redeclare your income for self-employment and platform work separately, please
contact IRAS.
If the income reflected in your notice of CPF contributions
[C] differs from the “adjusted profit/loss” stated in the consolidated statement (for the nature of businesses not relating to platform work), please
Write to Us and provide us with:
