Singapore Budget 2015 - #37
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- Category: Singapore News
Increase in personal income tax rate – What does this mean to an individual?
Source: MOF #SGBudget2015
Singapore Budget 2015 - #36
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- Category: Singapore News
Singapore adopts a progressive tax rate system.
In Budget 2010, our first move was to make our property tax regime more progressive.
This year’s Budget will see a 2% raise in personal income tax rates of higher income earners with a chargeable income above $320,000, with effect from YA 2017.
Source: MOF #SGBudget2015
Singapore Budget 2015 - #35
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- Category: Singapore News
Singapore’s fiscal philosophy is to firstly, sustain a vibrant economy that will help to improve Singaporeans’ lives. Secondly, to have a fair and equitable system of taxes and benefits. Thirdly, to keep that tax burden on the middle-income low.
Source: MOF #SGBudget2015
Singapore Budget 2015 - #34
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- Category: Singapore News
Steps and enhancements to strengthen future revenue:
- To include Temasek onto the Net Investment Returns (NIR) framework, which presently includes GIC and MAS
- To raise personal income tax rates of the top income earners
Source: MOF #SGBudget2015
Singapore Budget 2015 - #33
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- Category: Singapore News
Government expenditure is expected to continue increasing over the medium to long term, driven mainly by three areas: expansion in healthcare infrastructure, improvements to public transport and the development of Changi Airport Terminal 5.
Source: MOF #SGBudget2015
