1。The maximum amount of VC for a person is the difference between the CPF Annual Limit of $37,740 and the amount of mandatory contributions (MC) made for the calendar year. No further VC can be made if the MC and VC have already reached the current CPF Annual Limit of $37,740.
2。From 1 January 2017, a personal income tax relief cap of $80,000 will apply from Year of Assessment 2018. This cap applies to the total amount of all tax reliefs claimed, including any relief on voluntary CPF contributions. For non-self-employed person, only voluntary contribution to Medisave Account is tax deductible.
