MPF System

MPF Tax Matters

Tax Deductible Voluntary Contributions (TVC)

Tax incentives

TVC account holders can enjoy tax deduction under salaries tax or tax under personal assessment.

Tax deduction cap

For the 2019-20 year of assessment, the maximum tax deduction cap per year is $60,000, which is an aggregate limit for both TVC and qualifying deferred annuity policies premiums. 

Filing tax returns

Every year, trustees will provide scheme members with a TVC contribution summary with amount of TVC made in the assessment year to facilitate scheme members in filling their tax returns. 

 

Learn more about TVC.