SINGAPORE — On the heels of Singapore relaxing the final few Covid-19 controls at the start of the week, Deputy Prime Minister and Finance Minister Lawrence Wong announced on Tuesday (Feb 14) that the Government will spend about S$104.2 billion to reposition Singapore for a “new era” of global development.
from two to four weeks for parents with children born from Jan 1, 2024. However, this extra two weeks will not be mandatory for employers to provide.The tax relief for working mothers will move from a percentage of the mother’s earned income to a fixed dollar relief system, and will apply to women who have children born or adopted from 2024 onwards.
that comprise families with children, and young married couples aged 40 and below. More details will be announced during the debate on the Budget in Parliament.To help first-timer families buy a resale flat, the CPF Housing Grant will be increased, with those getting smaller flats to receive a higher amount. Together with the Proximity Housing Grant, eligible families may receive up to S$190,000 worth of grants when getting a resale flat on or after April 1 this year.
along with their employers. Those earning under S$2,500 a month will get transitional support in the first four years, with more details to be announced during the upcoming Budget debate.Adjustments will be made to the CPF savings of older workers, with the next increase in CPF contribution rates coming in 2024. Employers are expected to get some form of help to alleviate the increase in business costs.
Seniors on the Retirement Sum Scheme will see their minimum CPF monthly payout increase to S$350 a month. Aside from older workers, middle-income Singaporeans will have their CPF monthly salary ceiling raised progressively from S$6,000 to S$8,000 in 2026.To better match the training skills that workers get to the skills needed by employers, “jobs-skills integrators” will be intermediaries connecting industry players with training institutes.
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Singapore Budget 2023 Updates | Yahoo Singapore | Yahoo Singapore
Read more »
Budget 2023: Expected Budget deficit of $2 billion for 2022, says DPM WongThis expected deficit, which makes up 0.3 per cent of gross domestic product, is accounted for by revenue upside, higher spending. Read more at straitstimes.com.
Read more »
Singapore families hope Budget 2023 can help ease cost of living and promote work-life balanceFrom newly-married couples to bigger families, rising costs is one issue that ranked high among those who spoke to CNA.
Read more »
Live: Singapore Budget 2023 key announcements and highlightsThe 2023 Budget statement will be delivered by Deputy Minister and Minister for Finance Mr Lawrence Wong in Parliament on Feb 14 at 3.30pm.
Read more »
Live updates: Singapore Budget 2023 key announcements and highlights🚨 LIVE: Follow the live broadcast and our coverage of Deputy Prime Minister and Finance Minister Lawrence Wong's Budget2023 statement now.
Read more »