Clause 31

in subsection (2)(c), replace “a wife from whom he” with “a spouse from whom the individual”;

in subsection (2)(d)(v), replace “(being his wife) from whom he” with “from whom the individual”;

in subsection (2)(ga)(i), replace “the individual’s life or, in the case of a male individual, on the life of the individual’s wife” with “the life of the individual or the individual’s spouse”;

in subsection (2), replace paragraph (ha) with —“(ha)has carried on a trade, business, profession or vocation and has made voluntary contributions to the Central Provident Fund then, subject to subsection (10B), there is to be allowed for the year of assessment 2026 or a subsequent year of assessment a deduction in respect of such contributions of an amount to be determined by the formula A – B, where —

A is the lower of —

37%, or such other rate as may be prescribed, of the amount of his or her income derived in the basis period for that year of assessment from his or her trade, business, profession or vocation on which contributions were obligatory under the Central Provident Fund Act 1953 (excluding any income on which contributions are obligatory as a Group A worker); and

$37,740, or such other amount as may be prescribed; and

B is the amount of any deduction allowed under paragraph (haa),except that if A – B is less than or equal to zero, the amount of deduction is treated as zero;

in subsection (2)(hb), replace “sub‑paragraphs (ga) and (ha)” with “paragraphs (ga), (ha) and (haa)”;

in subsection (2)(hb), replace “sub‑paragraph (ha)” with “paragraph (ha)”;

in subsection (3)(c)(ii), after “medisave contributions”, insert “(after deducting the prescribed amount of any MMSS grant, or the total of the prescribed amounts of any MMSS 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 2026)”;

in subsection (3A)(b), replace “section 39(2)(h)” with “subsection (2)(h) for the year of assessment 2025 or any preceding year of assessment, or under subsection (2)(ha) for the year of assessment 2026 or any subsequent year of assessment”;

in subsection (3A)(c)(ii), after “medisave self‑contributions”, insert “(after deducting the prescribed amount of any MMSS grant, or the total of the prescribed amounts of any MMSS 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 2026)”;

replace subsection (3C) with —“(3C) In subsections (3) and (3A) —

in subsection (10B), replace “and (ha)” wherever it appears with “, (ha) and (haa)”;

in subsection (10B)(d), replace “subsection (2)(ha) (in respect of contributions which are obligatory under the Central Provident Fund Act 1953)” with “subsection (2)(haa)”;

in subsection (10B)(d), replace “paragraphs (b) and (c) do” with “paragraph (b) does”; and

in subsection (10B)(d), replace “, allowable under subsection (2)(ha)” with “, allowable under subsection (2)(haa)”.

the full amount of a grant under the public scheme known as the Matched MediSave 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;

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.”;