Clause 22

in subsection (2)(a) and (i)(iv), after “$4,000 in that year”, insert “(where the year of assessment is between the years of assessment 2010 and 2024 (both years inclusive)) or not more than $8,000 in that year (where the year of assessment is 2025 or any subsequent year of assessment)”;

in subsection (2)(p)(iii), replace “either —” with “satisfies any of the following conditions:”;

in subsection (2)(p)(iii)(A), delete “or” at the end;

in subsection (2)(p)(iii)(B), delete “or any subsequent year of assessment”;

in subsection (2)(p)(iii)(B), replace the comma at the end with a semi‑colon;

in subsection (2)(p)(iii), after sub‑paragraph (B), insert —“(C)where the year of assessment is the year of assessment 2025 or any subsequent year of assessment — did not derive income that exceeds an aggregate of $8,000 from any trade, business, profession, vocation or employment or a combination thereof in the year preceding the year of assessment,”;

in subsection (3)(c)(i), after “such payments”, insert “(after deducting the prescribed amount of any MRSS grant, or the total of the prescribed amounts of any MRSS grant, given or to be given in connection with that payment or those payments if the payment or payments was or were made on or after 1 January 2025)”;

in subsection (3AA), replace paragraph (b) with —“(b)either —

where the year of assessment is between the years of assessment 2011 and 2024 (both years inclusive) — that spouse’s or sibling’s income exceeds $4,000 in the year preceding the year in which the payment or medisave contribution was made; or

where the year of assessment is 2025 or any subsequent year of assessment — that spouse’s or sibling’s income exceeds $8,000 in the year preceding the year in which the payment or medisave contribution was made.”;

in subsection (3A)(c)(i), after “such payments”, insert “(after deducting the prescribed amount of any MRSS grant, or the total of the prescribed amounts of any MRSS grant, given or to be given in connection with that payment or those payments if the payment or payments was or were made on or after 1 January 2025)”;

after subsection (3B), insert —“(3C) In subsections (3) and (3A), “prescribed amount of any MRSS grant” means —

the full amount of a grant under the public scheme known as the Matched Retirement Savings Scheme, as described on the website https://cpf.gov.sg; or

if an amount of such grant is prescribed by rules made under section 7 for the purposes of this subsection — that amount.”; and

after subsection (12B), insert —“(12C) Subsections (2)(k), (12) and (12A) cease to have effect from the year of assessment 2026.”.