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.