How much tax can SRS and CPF top-ups save you?
Put money into SRS or top up CPF by 31 Dec 2026 and pay less tax next year (YA2027).
- Free
- No sign-up
- What you type stays on your device
How it works
- Tax reliefs lower the income you pay tax on. You save at your top tax rate.
- SRS: up to $15,300 a year for citizens and PR, $35,700 for foreigners. Open an account with DBS, OCBC or UOB.
- CPF cash top-up: up to $8,000 for yourself and $8,000 for family members (citizens and PR).
- All reliefs together are capped at $80,000 a year.
Tax rates (YA2024 onwards)
| Chargeable income | Rate |
|---|---|
| First $20,000 | 0% |
| $20,001 – $30,000 | 2% |
| $30,001 – $40,000 | 3.5% |
| $40,001 – $80,000 | 7% |
| $80,001 – $120,000 | 11.5% |
| $120,001 – $160,000 | 15% |
| $160,001 – $200,000 | 18% |
| $200,001 – $240,000 | 19% |
| $240,001 – $280,000 | 19.5% |
| $280,001 – $320,000 | 20% |
| $320,001 – $500,000 | 22% |
| $500,001 – $1,000,000 | 23% |
| Above $1,000,000 | 24% |
Questions
What is the deadline for YA2027?
Money must be in your SRS account or CPF by 31 Dec 2026. Banks get busy in the last week, so don’t leave it to the last day.
Is SRS worth it if my tax rate is low?
Usually not. At 2% or 3.5% you save little, and the money is locked until retirement. SRS works best from the 11.5% band up.
Can foreigners use SRS?
Yes. Foreigners can put in up to $35,700 a year, more than citizens and PR. You need to submit a declaration to your SRS bank each year.