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Insights · Guide · Tax relief

Less tax this year.
More income later.

Your tax, line by line. Then what S$31,300 of CPF top-up and SRS saves at your income.

Income taxReliefs, CPF top-up, SRS

Income tax · 1 of 3

Income tax, worked out

The IRAS calculator, one part at a time.

Part A of 4Tell us about yourselfYear of Assessment 2027 · year ended 31 Dec 2026
Age on 31 Dec 2026Sets Earned Income Relief and the CPF rate
Do you support a spouse?Spouse Relief needs their income last year to be $8,000 or less, unless they have a disability
How many children qualify?Under 16, or in full-time study, and earning $8,000 or less
Are you a working mother?Working Mother's Child Relief depends on when the child was born
Do you support your parents?Up to two; each aged 55 or older and earning $8,000 or less
Are you an NSman?Operationally ready national serviceman in the year
Are you a Singapore Citizen or PR?Sets the SRS cap

Which first

Your own CPF first.
SRS when the rate earns it.

Employee under 55, CPF from pay: the 7% band from S$ 51,300 a year, the 11.5% band from S$ 100,200. From 55, the 7% band from S$ 56,100.

  1. 1Cash and coverAn emergency fund and the protection gap, before money that is locked or penalised.
  2. 2Your own CPFfrom S$ 51,300From the 7% band. Up to S$ 8,000, up to the Full Retirement Sum. Saved for good; builds CPF LIFE.
  3. 3SRSfrom S$ 100,200From the 11.5% band, or the 7% band from 55. Up to S$ 15,300.
  4. 4Family CPFAnother S$ 8,000, when a parent, spouse or sibling needs the income. The money leaves for good.
  5. 5Stop at the 0% bandRelief that takes chargeable income below S$ 20,000 saves nothing.

By income

What S$ 31,300 of top-ups saves,
at every income.

Own CPF S$ 8,000, then SRS S$ 15,300, then family S$ 8,000, each from what the one before leaves. YA 2027.

Pay a yearTop rateOwn CPFSRSFamily CPFSaved in allStart with
S$ 40,0003.5%S$ 175S$ 60NilS$ 235Not for tax yet
S$ 60,0007%S$ 525S$ 441S$ 74S$ 1,040Own CPF
S$ 80,0007%S$ 560S$ 1,061S$ 280S$ 1,901Own CPF
S$ 100,0007%S$ 560S$ 1,071S$ 560S$ 2,191Own CPF
S$ 120,00011.5%S$ 920S$ 1,602S$ 560S$ 3,082Own CPF, then SRS
S$ 150,00015%S$ 1,200S$ 1,823S$ 920S$ 3,943Own CPF, then SRS
S$ 200,00018%S$ 1,440S$ 2,649S$ 1,200S$ 5,289Own CPF, then SRS
S$ 300,00019.5%S$ 1,560S$ 2,984S$ 1,560S$ 6,104Own CPF, then SRS
S$ 500,00022%S$ 1,760S$ 3,366S$ 1,760S$ 6,886Own CPF, then SRS

Bars: own CPF navy, SRS blue, family gold. Employee, CPF worked out from pay, Earned Income Relief, no other reliefs; Citizen or PR. Income tax from YA 2026 rates and reliefs (unchanged by Budget 2026) until IRAS publishes its YA 2027 calculator.

CPF top-up or SRS

One is locked in for life.
One stays yours, at a price.

CPF top-upSRS
Tax saved nowTop rate, up to S$ 8,000 + S$ 8,000Top rate, up to S$ 15,300
Tax laterNoneHalf of each withdrawal; S$ 40,000 a year tax-free with no other income
The moneyLocked; becomes CPF LIFE incomeYours; before 64, fully taxed plus 5%
Grows atThe CPF interest rateWhatever it is invested in
FamilyYes: a separate S$ 8,000No
Deadline31 Dec 2026, for YA 202731 Dec 2026, for YA 2027

Conversations

Six clients.
Six different answers.

$60,000 a year, age 35S$ 525saved by S$ 8,000 into own CPF. The same into SRS on top saves S$ 441, and locks S$ 15,300 away to 64.Own CPF. SRS can wait.
$120,000 a year, age 40S$ 2,522a year from own CPF and SRS together: S$ 920 and S$ 1,602, from the 11.5% band.Both, every December.
$150,000 a year, age 577 yearsto wait before SRS comes out penalty-free. S$ 1,760 saved a year on the way in; S$ 40,000 a year out tax-free if nothing else is taxed.SRS now, while the lock-up is short.
$200,000 a year, parents retiredS$ 1,200saved by S$ 8,000 into a parent's CPF, on top of S$ 4,089 from own CPF and SRS. A parent on a matched grant gets the match instead: that part earns no relief.Family when the parent needs the income.
Retired, $30,000 of rent, age 66S$ 160saved by an S$ 8,000 top-up, at 3.5%. SRS on top saves S$ 40: S$ 13,300 of its S$ 15,300 lands in the 0% band.Top up for the income, not the tax.
Taking SRS outS$ 400,000out over 10 years with no tax, at S$ 40,000 a year when nothing else is taxed: half of each withdrawal counts. Before 64, all of it counts, plus a 5% penalty.Spread it, from the retirement age.

Each worked by the calculator above for YA 2027: employee, CPF from pay, no other reliefs. SRS penalty-free from 64 for a first contribution from July 2026 (62: Before Jul 2022; 63: Jul 2022 to Jun 2026; 64: From Jul 2026, or not yet). Matched grants: the matched part of a top-up earns no relief. Not tax advice.