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We should voluntarily contribute to SA as early as possible to reach FRS, once reach the FRS the SA interest will cover for subsequent FRS yearly increase, remaining SA contribution above FRS can withdraw when 55 - just consider as a saving 😬
thanks for your video! Sorry, wanted to check, if my SA has already hit FRS, but now my Medisave is at the old BHS amount (of $71,500), if i top up $4000 in my Medisave to the new BHS in 2025, will I still be eligible for tax relief? (the CPF website doesn't seem v clear on this...)
Why die die want to top up medisave when you reach or close to reach BHS? I mean can't just pluck it in SA?Is it to Supercharge SA? But 7400* 0.37*0.24= 657 incremental to SA per month if you actually earn 7.4k at least. If not, why not throw in SA as early as possible to build up PASS FRS as early as possible to enjoy the excess funds above FRS growth at 4% to withdraw at 55 especially cpf shielding doesnt work now?
Thanks to the $400 MediSave Bonus causing my MA to temporarily exceed BHS, I am not able to do a MA top up following my CareShield Life premium deduction which happened a few days later. 😢😢
Hi a question if you top up 4% and inflation is above that eg.5-6%, would cpf be able to raise the interest rates, as the amount in special account is effectively locked?
Hi My employer and employee cpf contributions is already at max 37,740. In this case, any point in further topping up medisave? I mean like it will no longer attract tax relief.
@@limcheeheanthank you! I just top up 1k to SA to test if the tax relief will be reflected in my march NOA. Haha if reflected will continue to top up via RSTU. Not sure why i always had the impression if ordinary wage + additional wage already at cap, then when u voluntary top up no more tax relief. But i guess im wrong. Thanks!
@@junjun906 That was in the past. They have change their ruling. So now you top up to MA/SA, the 37,740 limit will not be a factor. Instead the 8k tax relief is shared between top ups to MA and SA.
@@draxuanthank you very much for the clarification! Grateful for ur reply. Coz I was really under the belief it was last time. Glad I didn't rmb wrongly
📈 Click hmsg.link/ibkr to see my preferred broker 💹 Interactive Brokers
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🔭 Telegram Group: t.me/HoneyMoneySG
What are your thoughts on MA moneys not being transferred to OA even though above BHS?
will your $400 medisave bonus be trf to O/A or S/A since your medisave acct has reached BHS? thx
Saw you in Finfluencers CNA licensing news..... What do you think of the requirements for you to 'be license'?
(Just received 2k (Majulah Package) in our MA!) My wife and me will do VC MA on first week of 2025. Thanks.
Same thing. I am not topping more. Agree.
We should voluntarily contribute to SA as early as possible to reach FRS, once reach the FRS the SA interest will cover for subsequent FRS yearly increase, remaining SA contribution above FRS can withdraw when 55 - just consider as a saving 😬
can this 4k top up use to deduct tax?
Why u still get top up 400 to your MA when it has reached max of 71,500?
Because this is for all Singaporeans born in 1974 to 2003
thanks for your video! Sorry, wanted to check, if my SA has already hit FRS, but now my Medisave is at the old BHS amount (of $71,500), if i top up $4000 in my Medisave to the new BHS in 2025, will I still be eligible for tax relief? (the CPF website doesn't seem v clear on this...)
Why die die want to top up medisave when you reach or close to reach BHS?
I mean can't just pluck it in SA?Is it to Supercharge SA? But 7400* 0.37*0.24= 657 incremental to SA per month if you actually earn 7.4k at least. If not, why not throw in SA as early as possible to build up PASS FRS as early as possible to enjoy the excess funds above FRS growth at 4% to withdraw at 55 especially cpf shielding doesnt work now?
i think he hit FRS already.
Snowball effect
Why you have the MA bonus? 😮
Shdnt it be to OA or SA?
Your amount in your SA is staggering considering how young you are 😅
So on 1 Jan for those who have $71,900 in MA we could top up $3600 into MA ?
And $4400 into SA to
Maximise the $8000 CPF tax relief ?
Is that the only aircon unit in your living room, or there is only more? Want see if one 1800BTU unit is sufficient 😄
Panic? No la deadly fearful ma. We love worrisome persons. Can everyone like you?
Thanks to the $400 MediSave Bonus causing my MA to temporarily exceed BHS, I am not able to do a MA top up following my CareShield Life premium deduction which happened a few days later. 😢😢
If you leave your profits in your business, won't it be taxed at 17%? Or is it because of the Iras tax exemption scheme for new companies?
house tour... house tour...
FRS+1
👍
Why your OA is close to $5k (Is it buy 5 rooms BTO or Condo?) , SA close to $230k, MA $72k?
How to get SA to $200k+
He invested his OA into the equity markets to get higher returns.
Hi a question if you top up 4% and inflation is above that eg.5-6%, would cpf be able to raise the interest rates, as the amount in special account is effectively locked?
Hi My employer and employee cpf contributions is already at max 37,740. In this case, any point in further topping up medisave? I mean like it will no longer attract tax relief.
Top up to SA (RSTU) and MA (VCMA) not counted part of the 37740.
@@limcheeheanthank you! I just top up 1k to SA to test if the tax relief will be reflected in my march NOA. Haha if reflected will continue to top up via RSTU.
Not sure why i always had the impression if ordinary wage + additional wage already at cap, then when u voluntary top up no more tax relief. But i guess im wrong. Thanks!
@@junjun906 That was in the past. They have change their ruling. So now you top up to MA/SA, the 37,740 limit will not be a factor. Instead the 8k tax relief is shared between top ups to MA and SA.
@@draxuanthank you very much for the clarification! Grateful for ur reply. Coz I was really under the belief it was last time. Glad I didn't rmb wrongly
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