A Simple, No-Nonsense Guide for Singaporeans. Every year around November and December, Singaporeans suddenly become very hardworking. Not at work… But at saving tax. And it makes sense. Singapore uses a progressive tax system, which means the more you earn, the more tax you pay. So even a small reduction in your chargeable income can translate into real savings. But the moment you start googling “how to save tax in Singapore”, you’ll quickly bump into two common options:

• CPF Cash Top-Ups
• Supplementary Retirement Scheme (SRS) Contributions

Both give you tax relief. Both help with retirement. But they work very differently — and choosing the wrong one can mean locking up your money longer than you expected. Let’s break this down in simple terms, and help you decide which one makes sense for you.

1. Understanding How Chargeable Income Works

Before choosing CPF or SRS, it’s important to understand how IRAS determines what you actually pay tax on. IRAS uses this basic structure for tax residents:...