#sgbudget2023

Replacing unproductive jobs is part of healthy economic growth: DPM Wong “This churn is an integral part of healthy economic growth... But it does create uncertainty for workers, because workers will need to reskill and…

Progressivity is not about pitting the well-off against others: Pritam Singh He cautioned against framing the government’s latest fiscal plan as a “Robin Hood” Budget. “Referring to it as such pits one group – high-earne…

#SGBudget2023: Phased raising of CPF monthly salary cap will help employers to adjust However, the Singapore Business Federation said that the CPF change will add to existing manpower cost pressures, such as higher forei…

#SGBudget2023: More progressive tax changes to help fund social support The Budget focuses on social support for parents and lower-income groups, while the wealthier will face higher marginal Buyer’s Stamp Duty for highe…

#SGBudget2023: Higher housing grants may push more demand into HDB resale market: analysts While first-time homebuyers eyeing the HDB resale market will get up to S$30,000 more in housing grants to help buy the pricier f…

#SGBudget2023: Child relief for working mothers to be fixed from 2024 Higher-income mothers would receive a lower amount of tax reliefs than before, while lower-income mothers may get more. Alongside tax changes, a slew…

#SGBudget2023: Singapore Budget 2023 in 90 seconds In case you missed it all - here are the major announcements.

📊INFOGRAPHIC: Curious to see how the numbers from #SGBudget2023 stack up against previous years? Check out our very own interactive infographic putting together this year's Budget in numbers. bt.sg/budgetgraphic23 For m…

#SGBudget2023: S$2 billion deficit in FY22, S$0.4 billion deficit for FY23 The government does not expect to draw on past reserves for FY2023 as it did in the last three financial years as “things return to normal”.

#SGBudget2023: New tax incentive scheme for donors with family offices Donors with family offices operating in Singapore will soon be able to claim a 100% tax deduction for overseas donations through a new Philanthropy T…

#SGBudget2023: FY2022 fiscal deficit revised down to S$2b; FY2021 posts surplus instead of deficit Although government spending was higher-than-expected – to meet priority areas such as housing and projects that were def…

#SGBudget2023: Buyer’s Stamp Duty hike unlikely to hurt property demand; some see it as wealth tax For residential properties, the portion of the value of the property in excess of S$1.5 million and up to S$3 million wil…

#SGBudget2023: Higher marginal ARF rates for cars with OMV of more than S$40,000 The Additional Registration Fee (ARF) – a tax imposed when a vehicle is being registered – will be adjusted to better differentiate between…

#SGBudget2023: Tobacco excise duty increased by 15% To discourage the use of tobacco products, the Singapore government is implementing a 15% increase in tobacco excise duty across all tobacco products. The change takes…

#SGBudget2023: CPF monthly salary ceiling raised to S$8,000 by 2026; senior worker contribution rate to rise The ceiling – last updated in 2016 – will be bumped in four steps from S$6,000 to S$8,000 by 2026. For senior w…

#SGBudget2023: More support to lower-income platform workers when CPF contributions kick in from 2024 To help platform workers cope with lower take-home pay when Central Provident Fund (CPF) contributions kick in from 20…

#SGBudget2023: Top-ups to ElderCare, MediFund to support lower-income individuals, seniors The Ministry of Finance will top up the ElderCare fund by S$500 million. This fund supports means-tested subsidies for seniors wh…

#SGBudget2023: Child relief for working mothers to be fixed from 2024 Working mothers will be able to claim annual reliefs of S$8,000 on the first child born or adopted on or after Jan 1, 2024, S$10,000 on the second chi…

#SGBudget2023: First-time homebuyers to get up to S$30k in increased CPF housing grants, additional BTO ballot For eligible first-timer families buying a two- to four-room resale flat, the CPF Housing Grant will be incre…

#SGBudget2023: S$4 billion top-up for National Productivity Fund Investments will include supporting businesses here in building new capabilities, adding greater value to the domestic ecosystem, and upskilling workers. N…

#SGBudget2023: More cash and support measures to cushion impact of GST hike CDC Vouchers will be increased by S$100 in 2024, meaning Singaporean households will get another S$300 of vouchers in January. Follow our real-t…

#SGBudget2023: Singaporeans to receive up to S$200 more in GST vouchers in 2023 Those residing in homes with an annual value of S$13,000 and below can expect to receive S$700 in 2023, which is S$200 more than before. Thi…

#SGBudget2023: Major uncertainties in year ahead; government to plan for potential downside scenarios Singapore’s economic fundamentals remain strong and the economy is expected to see “positive but slower” growth this y…

#SGBudget2023: Government will not draw from past reserves for FY23 Covid-19 expenditures Total draw on past reserves from FY20-FY22 to come in at S$40 billion, lower than S$52 billion initially expected.

#SGBudget2023 lookahead: A Singapore working mother’s three-item wish list for Budget 2023 Flexi-work arrangements don’t just mean allowing one fixed day for working from home. Perhaps there could be incentives for compa…

#SGBudget2023: 7 things to look out for in Budget 2023 We're just one day away from Budget day, and if you have not been following lookahead coverage up to this point, this handy list will get you up to speed. For more B…