Singapore legislation
Clause 10
Clause 10
Amendment of section 14
Section 14(1) of the principal Act is amended by deleting paragraphs (fb) and (fc) and substituting the following paragraphs:“(fb)any sum contributed by an employer in 2013 or any subsequent year to the medisave account maintained under the Central Provident Fund Act in respect of any of the employer’s employees engaged in activities relating to the production of the income of the employer, up to a maximum deduction for each employee’s medisave account, of —
$1,500 per year (for contributions made before 2018); or
$2,730 per year (for contributions made in 2018 and in each subsequent year),less any previous contribution that is made to the same medisave account in the same year by the employer in the employer’s capacity as a person of a prescribed description under paragraph (fc) (if applicable), and that is deductible under that provision:Provided that no deduction is allowed in respect of any sum contributed by an employer to the medisave account maintained under the Central Provident Fund Act in respect of an employee who holds a professional visit pass or a work pass or who would be required to obtain such a pass if the employee were to work in Singapore;
(fc)any voluntary contribution in cash made in 2013 or any subsequent year by a person of a description prescribed by the Minister for the purposes of this paragraph, to the medisave account of a self‑employed individual maintained under the Central Provident Fund Act, up to a maximum deduction for each individual’s medisave account, of —
$1,500 per year (for contributions made before 2018); or
$2,730 per year (for contributions made in 2018 and in each subsequent year),less any previous contribution that is made to the same medisave account in the same year by the person of the prescribed description in the person’s capacity as an employer under paragraph (fb) (if applicable), and that is deductible under that provision;”.