Employers contribution to CPF shoud be added in total income or not.
Rajat Singhal CA,CS,CFA
(Senior Manager (F&A))
(254 Points)
Replied 10 March 2010
Nature |
Taxable/ Not taxable
|
|
---|---|---|
1 |
Employer's portion relating to employment in Singapore
|
|
a) Compulsory payments under the CPF Act
|
Not taxable
|
|
b) Voluntary payments, i.e. amount in excess of compulsory contributions to be made by employer
|
Taxable |
|
2 | Contributions made from 1 Jan 2004 relating to employment outside Singapore |
Not taxable since the contribution is a foreign-sourced income
|
3 |
Contributions relating to director's fees
Regards Rajat |
Taxable as these are voluntary contributions |
GST Live Certification Course (39th Batch) - April 2024 (Weekend Batch) (With Certificate)
"Live class on Python for Financial Analysis: Unlocking Efficiency in Accounting and Finance"