Medisave is always tax deductible up to 7k. The others are not once you hit the min sum (aka "BRS" I think). I believe the total is 7k for tax deduction to your own account but you can also contribute to your spouse etc for more tax deductions I believe.ProvenPracticalFlexible wrote: ↑Mon, 04 Jan 2021 11:04 amPNGMK, sorry to bug you again, but did I get it correctly that if I top up medisave by 3k to 63k now. I can still top up 7k on my SA and both will be fully tax deductible (total 10k). Or is it total 7k only (3k medisave and can only add 4k to SA)?
BTW you guys are absolutely right that this stuff didn't interest me much 10 years ago, but now learned some of the benefits of the CPF system, as I need to start thinking life after 55-65, I'm quite happy to contribute cpf these extras where I can.
You've either hit the max level of VC (which is unlikely this early in the year but is $37,400) or you have close to the max limit for SA (which is the FRS - $179,000 or so) or most likely you are using PayNow which seems to have a daily limit of $1,000.
How much is in your SA?
Yeah 1000 is the default but Maybank won't change it for me.ProvenPracticalFlexible wrote: ↑Fri, 08 Jan 2021 1:29 pmyou can have higher limits for PayNow, just did this week 3k for the medisave topup. you just need to make your limits higher. at least UOB allows that. 1000 might be the default.
You must be in their high risk drinking and gambling profile or something like that. Maybank for me has given the highest default credit card limit; 8 months salary by default. Citi and SCB 5-6 month and local banks UOB and OCBC max 2 months. Not that it matters as I could ask it to be changed but just my experience in default credit limits and how easy on those the banks are has always been that local banks are really conservative and international not to mention regional like Maybank or ANZ (when still here) were pretty loose with their limits and credits.PNGMK wrote: ↑Sat, 09 Jan 2021 11:19 amYeah 1000 is the default but Maybank won't change it for me.ProvenPracticalFlexible wrote: ↑Fri, 08 Jan 2021 1:29 pmyou can have higher limits for PayNow, just did this week 3k for the medisave topup. you just need to make your limits higher. at least UOB allows that. 1000 might be the default.
My paynow limit is 1000. My credit card limits are similar to yours.ProvenPracticalFlexible wrote: ↑Sat, 09 Jan 2021 11:12 pmYou must be in their high risk drinking and gambling profile or something like that. Maybank for me has given the highest default credit card limit; 8 months salary by default. Citi and SCB 5-6 month and local banks UOB and OCBC max 2 months. Not that it matters as I could ask it to be changed but just my experience in default credit limits and how easy on those the banks are has always been that local banks are really conservative and international not to mention regional like Maybank or ANZ (when still here) were pretty loose with their limits and credits.PNGMK wrote: ↑Sat, 09 Jan 2021 11:19 amYeah 1000 is the default but Maybank won't change it for me.ProvenPracticalFlexible wrote: ↑Fri, 08 Jan 2021 1:29 pmyou can have higher limits for PayNow, just did this week 3k for the medisave topup. you just need to make your limits higher. at least UOB allows that. 1000 might be the default.
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