A Place for Singles


C.6. The Jobs Credit that an employer receives will comprise 12% of the first $2,500 of the wages of each employee who is on the CPF payroll. It will be given in four quarterly payments, with each payment being based on the workers who are with the employer at the time. This will therefore provide incentive for employers to retain their local workers. For example, for a worker whose wage is $2,500, an employer will get $900 a quarter, or $300 a month.
 
ie. instead of implementing a CPF cut on employer's portion, the govt is giving 12% of the 1st $2.5k back to the employer. As far as employees are concerned, there is no impact on them.
 
There is something for CNG vehicles. The special tax exemption for CNG (Compressed Natural Gas) vehicles will be extended for two years till 31 December 2011. However, from January 2012, a CNG unit duty will be introduced at $0.20 per kg. With this further two-year extension of tax exemption, CNG vehicle owners would have time to adjust to the changes. The CNG duty rate of $0.20 per kg will be significantly below the equivalent duty that we currently levy on petrol.
 
This time, most of the financial relief and rebates are meant for companies/employer. Gov. want to attract more investors into spore and help the existing companies, so that singaporean will not lose their jobs ...
 
B.9 Fourth, supporting families. We will spend $2.6 billion to support Singaporean households this year. This is on top of the benefits they will derive from the measures to preserve jobs.

Anyone want catch this? Supporting singaporean households, are they going to give $$$ again or in terms of our tax rebate?
 
GST Credits that households will receive in 2009 will be doubled. Each household will get an additional payout of GST Credits, on top of the one that they will receive in July. To help households with their immediate needs, the additional GST Credits will be paid out on 1 March 2009.
 
Additional one month of S&CC rebates for those in one to three-room HDB flats, who will therefore receive a total of 3 to 4.5 months for this year. Those in larger flats will receive a total of one to two months of rebates.

Personal income tax rebate of 20% for tax residents for Year of Assessment 2009. This will provide immediate reduction in their tax payable for last year¡¯s income. The rebate will be capped at $2,000.

Individual tax residents who have lost their jobs in 2008 or lose their jobs in 2009 will be able to pay their personal income taxes this year in instalments of up to 24 months, up from 12 months.

40% property tax rebate for owner-occupied residential properties for 2009.
 
good morning..

No shopping voucher for us like what they did in taiwan?

I thought the government didn't do enough. This depression is quite extraordinary and we cannot just do with the usual budget concessions..

I thought direct cash or at least shopping vouchers would be more useful.
 
im fine with it ..instead of having any bailout package which will raise fear if any company were to use it .. the gov is helping companies swept across the island ..

im only not happy with the vehicle thing ... what got to do with cng .. and percentage off road tax for buses, taxi and goods vehicle..... in a recession .. public transport will have a rise in profit ... so what for subsidise the company as though they will convert their savings down to the public ..
 
powderful,

GST credit also given last year.. nothing creative.. .people can don't spend and save the credit.

voucher - will need to spend and stimulate the economy. We are not very creative leh.. always the same old measure of concessions and GST credit or tax rebate..
 
procrastinator,

doesnt matter.. maybe just a few choices for people to choose.. may favour NTUC but why must be so calculative.

anyway, I don't see much difference in budget compared to previous years.

Biggest still the 2K income tax rebate (same as last year)
 
they should do a proper archival... just create an archival thread and move the archival there..

don't think it is space issue as well.. just some limits.. other thread is OK..
 
procastinator,

there is a tax rebate (capped at 2K) for YA2008 which is exactly the same as for YA2009.. it was supposed to be one-off for 2008 and now they also have for 2009.

Go check your tax statement.. you should have it - how much rebate depends on your income.. 2K is the MAX
 
You see.. the govt is so good in "psycho" us that even you think this 2K rebate for YA2009 is really special for this year when it was also given for last year.
 

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