MPF Voluntary Contribution Tax Deduction Calculator (HK 2027)
Calculate the tax savings from making MPF Tax-Deductible Voluntary Contributions (TVC) in Hong Kong — up to HK$60,000/year combined cap shared with QDAP annuity premiums.
TVC vs Mandatory MPF
Mandatory MPF is the 5%/5% employer + employee scheme on salaries up to HK$30,000/month. TVC sits on top — you contribute extra voluntarily to a TVC account, deductible up to HK$60,000/year against salaries tax. Unlike SVC (Special Voluntary Contributions), TVC is locked until age 65 (or earlier under hardship).
HK$60,000 Combined Cap
The HK$60,000 cap is SHARED between TVC and QDAP (Qualifying Deferred Annuity Policy) premiums. If you put HK$30k into QDAP, you can only deduct HK$30k of TVC. Allocate based on whether you want pension lump sum (MPF TVC) or guaranteed income stream (QDAP).
Tax Savings by Marginal Rate
TVC saves tax at your top marginal rate. A 17% top-rate taxpayer making the full HK$60,000 TVC saves HK$10,200/year. A 15% standard-rate taxpayer saves HK$9,000/year. Over 30 years compounding at 5%, the deferred tax savings alone exceed HK$680,000.
TVC Withdrawal Rules
TVC is locked until age 65 with the same hardship exceptions as mandatory MPF (permanent departure, terminal illness, total incapacity, death). Withdrawn TVC is tax-free in Hong Kong.
Source: mpfa.org.hk TVC rules, ird.gov.hk salaries tax allowances. Last updated: May 2026.
Frequently Asked Questions
Is TVC the same as my regular MPF?
No. Regular MPF is mandatory 5%+5% employer/employee. TVC is an EXTRA voluntary contribution you make on your own to a separate TVC account at any MPF trustee, deductible up to HK$60k/year.
Can I withdraw TVC anytime?
No. TVC is locked until age 65 with the same hardship exceptions as mandatory MPF: permanent departure from HK, terminal illness, total incapacity, or death.
Should I max TVC or QDAP first?
TVC offers more flexibility (lump sum at 65). QDAP gives guaranteed monthly income for life. High earners often max BOTH at HK$30k each to use the full HK$60k cap.
Is TVC investment income taxable?
No. MPF investment income is exempt from HK tax both during accumulation and on withdrawal. Only contributions are deductible.
Is my data private?
Yes. All calculations run in your browser. Income, contribution and asset data are never sent, stored, or shared.