
MPF System
MPF Tax Matters
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.