CPF SA Shielding hack - RIP (Obsolete)

[reddevil0728]

Hi, I just recently chanced upon supercharging one's CPF accounts. I have two questions about MA and topping up. I understand that topping up (up to $8000 for self, not family members) will provide some income tax relief

topping up certain family members will also get your the relief

but when is the window/ time frame for topping up so that I qualify for the tax relief and avoiding over & multiple top ups within the same taxation window? Is the qualifying top up period from Jan to Dec or is it Apr to Mar?

calendar year

Am I right to say that once my BHS hits the maximum amount, subsequent monthly CPF MA contributions from personal and employer will be transferred into my OA, assuming I have also hit FRS for SA or will it go into my SA?

Thank you.

generally yes depends on your age. see below.

 

[shengliang1981]

Sorry, noob question as first time doing cash top-up. To minimize interest loss, is the last day of the month (e.g.: 31 Oct) the best time to do cash top-up to CPF SA via PayNow? Thanks in advance.

 

[reddevil0728]

Sorry, noob question as first time doing cash top-up. To minimize interest loss, is the last day of the month (e.g.: 31 Oct) the best time to do cash top-up to CPF SA via PayNow? Thanks in advance.

technically yes. but then you also run the risk of technical fault and end up the money only being dated the following month.

so depends on how much risk you willing to take. do it a few days earlier better

 

[BBCWatcher]

Sorry, noob question as first time doing cash top-up. To minimize interest loss, is the last day of the month (e.g.: 31 Oct) the best time to do cash top-up to CPF SA via PayNow?

That’s right, but try October 30 if you want a little safety margin. Sometimes you might have a PayNow limit to raise or some other issue.