Any cash top-up for me goes straight in RA and no tax relief.
Correct. That's a voluntary contribution, not a compulsory one. Your compulsory contributions (from work in Singapore), if you have any, still qualify for tax relief.
Issue is CPF deductions after 55 are lower and Chargeable Income becomes higher. Trying to think a way to reduce.
Medisave!
Voluntary contributions to Medisave still qualify for tax relief, to your own Medisave account. You can make those voluntary contributions if you are below the CPF Annual Limit. You should have a pretty good idea, right now (as I write this) about how much room, if any, you have below your 2017 CPF Annual Limit. If you have some room, and if your Medisave Account is below the Basic Healthcare Sum ($52,000 for 2017), there's still time if you run down to the CPF office with a paper check to make a voluntary top-up to your Medisave Account.
And, starting on January 1, the BHS will increase to $54,500 for 2018. (I believe it still increases up until your 65th birthday, when it's then locked in.) If you expect to have $2,500 worth of room below your CPF Annual Limit, then you can top up another $2,500 on January 1, 2018 (or maybe on January 2, 2018, if CPF's online systems are shut down at the very beginning of the new year).
I believe it's somewhat easier to fall below the CPF Annual Limit once you hit age 55, because of the reduction in compulsory contribution rates. So that could work for you, unless you have a rather large amount of variable compensation (bonuses, etc.)
You can also rush in with Medisave top-ups after a Medisave withdrawal for insurance premiums and medical bills, again assuming you have room below the CPF Annual Limit of $37,740. It's prudent for you to assume medical insurance premiums and medical bills for the household from your Medisave Account if you're in the higher tax bracket and can make these voluntary contributions, with tax relief.
Another possible option is that your employer could make voluntary Medisave contributions via the Additional Medisave Contribution Scheme (AMCS). That can be up to $1,500 in 2017 and up to $2,730 in 2018 (and in future years, unless changed again). AMCS is not subject to the Basic Healthcare Sum (BHS) limits, nor is it subject to the CPF Annual Limit. AMCS is technically
per contributor, so if you have a couple different employers, then at least hypothetically you can double up on that.
You can also try finding tax qualified CPF member recipients who have not reached the Full Retirement Sum (FRS), notably a parent (if you have one). If you top up that qualified person's Retirement Account, you can claim the second $7,000 CPF SA/RA tax relief.
Tax reliefs are capped at a total of $80,000, please bear in mind. And more tax relief doesn't help if you've already driven your income below the taxable threshold (below the 2% tax bracket).
