Budget 2023! 14Feb

[inlinesix]

2 hours ago, Wt_know said:

jiak porridge ... what's the signal .... jialat liao .... 

They eat porridge every year

[Fcw75]

11 hours ago, Wt_know said:

jiak porridge ... what's the signal .... jialat liao .... 

As I always said, everything is relative.

One is Affordable.

The other one is this. Their porridge and our porridge is different too. Look at all the ingredients. 

[Kopites]

On 1/3/2023 at 12:14 PM, Actan72 said:

My prediction is either petrol or diesel tax will increase...  pls pray that i am wrong...

also, property tax and income tax may increase.....

pls brave ourselves for more blood sucking

 Property Tax increased not too long ago.

Last month just made payments. 😓

[Kopites]

19 hours ago, RadX said:

Tmr the day

 

i Wun b around so u all entertain ur selves here 😂

Would it make any difference if you did stick around?😁 

Not need you to be here. 😁😁

[Kopites]

18 hours ago, Wt_know said:

huat ah .... tomorrow we got chocolate and roses from ah wong sir

hearsay, life is like a box of chocolates, you never now what you're gonna get

but roses come with thorns .... jit dong jeng !

Good pure chocolate taste bitter.

Sweetened chocolate taste artificial. 

 

[RadX]

2 minutes ago, Kopites said:

Would it make any difference if you did stick around?😁 

Not need you to be here. 😁😁

running updates...which in recent years is also on the fly and the rest have contributed here alongside with me.... in case you were still under a shell that time....

[Kopites]

17 hours ago, Watwheels said:

You mean got ppl looking forward to this?

What to expect? One off musterbate rebate and what's not that adds up to $100 again lo. To justify the gst hike. Telling ppl it is to narrow the wealth gap and reduce the impact of inflation blah blah blah. I think I can write the script.

One item on the agenda definitely will get mention again.

Gst 1% confirmed and double confirm again. 

[Kopites]

17 hours ago, Daniu82 said:

It's the usual S&CC and electrical bill rebates and maybe some goodies to deal with inflation. I don't expect anything spectacular. 1st time giving budget will give a big ang bao meh? 

Ok...Ang bao for you. 😁

[Fcw75]

18 hours ago, Daniu82 said:

It's the usual S&CC and electrical bill rebates and maybe some goodies to deal with inflation. I don't expect anything spectacular. 1st time giving budget will give a big ang bao meh? 

Second time actually. 

HSK is 财神爷, this one is the scrooge.

Edited February 14, 2023 by Fcw75

[mersaylee]

52 minutes ago, Fcw75 said:

As I always said, everything is relative.

One is Affordable.

The other one is this. Their porridge and our porridge is different too. Look at all the ingredients. 

Ours is dig into the porridge to find ingredient, his is dig through layers of ingredients find porridge 😁

[Fitvip]

Lai laio lai liao!

 

Edited February 14, 2023 by Fitvip

[Mrmilktooth]

Nothing is free… I prefer they don’t keep increasing tax on citizens. Damn it. 😑🤏

[13177]

3 minutes ago, Mrmilktooth said:

Nothing is free… I prefer they don’t keep increasing tax on citizens. Damn it. 😑🤏

Yes yes nothing is free, the more they give the more citizens would get to suffer later.

[Strat]

wah.... like give a lot of ang baos....

(very scary cos high change taking back chicken farm instead of chicken in the future 🤐)

[Kopites]

Assessable income set at 100k pa. Equal to 8k per mth.

Absurd! Go fly kite. 

-----------------

This special payment is expected to benefit about 2.5 million adult Singaporeans.

For eligible Singaporeans who have an assessable income of S$22,000 or less, they will receive S$400.

As for those who have an assessable income of over S$22,000 to S$34,000, they will receive S$300.

Meanwhile, Singaporeans who have an assessable income of more than S$34,000, up to S$100,000, will receive S$200.

Edited February 14, 2023 by Kopites

[FourZero]

@RadX 

Lai Liao........................... how much how much.......................... very free today.................. 🤣

[Kopites]

https://mothership.sg/2023/02/budget-cost-of-living-special-payment/

 

2.5 million S'poreans aged 21 & above to receive S$200-S$400 to address cost of living concerns

The total amount of the Assurance Package will be increased by S$3 billion.

The government will introduce several additional one-off support measures this year under the Assurance Package (AP), Finance Minister Lawrence Wong announced in Parliament on Feb. 14, as part of his delivery for the 2023 budget statement.

 

Wong, who is also Deputy Prime Minister, added that he was cognisant of how many Singaporeans are still concerned about the immediate cost-of-living issues.

 

Wong said that the government will do more to help Singaporeans through this difficult period, tide through the period of higher inflation, and cushion the impact of the new GST rates.

 

One-off measures under the AP

Eligible Singaporeans to receive a payment of S$200-$400 for cost of living

One such measure is a cost-of-living special payment ranging from S$200 to S$400 for each eligible adult Singaporean, have an assessable income of not more than S$100,000 and do not own more than one property.

 

This special payment is expected to benefit about 2.5 million adult Singaporeans.

For eligible Singaporeans who have an assessable income of S$22,000 or less, they will receive S$400.

As for those who have an assessable income of over S$22,000 to S$34,000, they will receive S$300.

Meanwhile, Singaporeans who have an assessable income of more than S$34,000, up to S$100,000, will receive S$200.

-----------------------

Seniors aged 55 and above to receive an additional bonus ranging from S$200 to S$300

Eligible older Singaporeans will also receive additional support in the form of a cost-of-living Senior's Bonus.

To qualify for this special payment, such Singaporeans must be aged 55 and above, have an assessable income of not more than S$34,000, have a residential address which is a property with an annual value that does not exceed S$21,000, and do not own more than one property.

Should the annual value of their property be S$13,000 or less, Singaporeans aged 55 to 64 will receive S$250, while those aged 65 years and above will receive S$300.

As for those who live in properties with an annual value ranging from more than S$13,000 to S$21,000, they will receive S$200.

-------------------------

U-Save rebates to be doubled over the next three tranches of disbursement

Wong added that he would also double the U-Save rebates provided to eligible households over the next three tranches of disbursement in April, July and October.

 

This means households will receive an additional U-Save rebate under the Assurance Package on top of the regular U-Save rebate that they receive.

 

For example one-room and two-room HDB flats will receive an additional S$95 for each tranche of payment.

 

This comes up to a total of S$760 in U-Save rebates for the whole of 2023, once the additional tranche of payment for January 2023 is included.

 

The additional payment per tranche is S$85 for three-room flats, S$75 for four-room flats, S$65 for five-room flats and S$55 for executive/multi-generation flats.

 

This translates to a total U-Save rebate of S$680 for three-room flats, S$600 for four-room flats, S$520 for five-room flats, and S$440 for executive/multi-generation flats, for the entire year.

--------------

Top-ups for households with children

For households with children, each Singaporean child aged six and below will be provided with a one-off S$400 top-up to their Child Development Account (CDA) from September 2023.

In addition, each Singaporean child aged between seven and 16 years old, and between 17 and 20 year old will receive a one-off S$300 top-up to their Edusave account and Post-Secondary Education Account (PSEA) respectively, in May 2023.

These top-ups are in addition to the annual Edusave contribution by the government and will benefit about 770,000 children.

-------------------

Enhancements to the AP

Eligible Singaporeans to receive additional AP cash of between S$300 to S$650

Wong also highlighted that following a review of the AP to account for higher inflation, several enhancements will be made to the package.

One of these is increasing the cash payments to eligible Singaporeans by between S$300 to S$650, which means they will receive between S$700 to S$2,250 over five years.

For Singaporeans to be eligible, they must aged 21 years and above, have an assessable income of not more than S$100,000 and not own more than one property.

For example, a Singaporean with an assessable income of less than S$34,000 will receive an additional S$200 in December of 2023, 2024 and 2025, on top of the initial S$400 for each of these months.

 

They will then receive an additional S$50 for December 2026, on the of the original S$200.

 

Coupled with the first AP cash payment of S$200 in December 2022 and this means such Singaporeans can receive up to S$2,250 over five years.

 

The cash payments will benefit about 2.9 million adult Singaporeans.

------------------------

Additional S$100 Community Development Council Vouchers

Every Singaporean household will also receive an additional S$100 in Community Development Council (CDC) vouchers in Jan. 2024, over and above the S$200 CDC Vouchers announced at Budget 2022.

 

This means each Singaporean household will receive S$300 CDC Vouchers in January 2024.

 

About 1.3 million Singaporean households are expected to benefit from this measure.

 

In summarising the additional one-off measures and enhancements, Wong said that these will cost about S$3 billion, which means the total amount of the Package will increase from S$6.6 billion to S$9.6 billion.

 

Permanent GST Voucher scheme to be enhanced further

The permanent GST Voucher (GSTV) scheme will also be enhanced further so that it continues to defray GST expenses for eligible households, according to Wong.

 

For those residing in homes with an annual value of S$13,000 and below, the GSTV cash quantum will be increased from S$500 to S$700 in 2023, and to a further S$850 from 2024 onwards.

 

As for those residing in home with an annual value of more than S$13,000 and up to S$21,000, the GSTV cash quantum will be increased from S$250 to S$350 in 2023, and then to S$450 from 2024 onwards.

 

Wong said, "These enhancements to the permanent GSTV scheme ensure that most retiree as well as lower-income households will not be impacted by the GST rate increase."

 

The minister explained that under Singapore's GST system, which is defined as the GST and GSTV combined, the more well-off consumers, as well as foreigners and tourists, will bear higher effective GST rates than lower-incomes Singaporeans.

 

"This ensures that those with greater means contribute their fair share of taxes, and will effectively lower the burden of taxes on lower-and middle-income Singaporeans," he said.

 

 

 

Edited February 14, 2023 by Kopites

[Arogab]

17 hours ago, inlinesix said:

They eat porridge every year

Lai lai, I also want to eat porridge leh