Enjoy Taxe Benefits and Accumulate Your Retirement Savings with MPF Tax Deductible Voluntary Contributions (TVC)

MPF Essentials

4 mins read

2025-02-27 16:03:52

Introduced in 2019, TVC allows members to make additional voluntary MPF contributions while enjoying tax deductions. Under the current tax system, you can claim tax deduction of up to HK$60,000 per tax year. At the highest tax rate of 17% (for the 2023/24 tax year), this could result in savings of up to HK$10,200 in taxes. However, it’s important to note that this deduction cap applies to both TVC and qualifying annuity premiums.