*Summary of Budget 2018*
1. *Angbao*
All Singaporean will receive $100 to $300 depending on their income.
2. *Tobacco excise duty*
Increase by 10% from today
3. *GST on overseas import services*
We might have to pay GST for Netflicks, Spotify, app store and even shopping online.
4. *Buyer stamp duty*
Increase to 4% for private ppty worth more than $1mil.
5. *GST hikes*
Increase from 7% to 9% starting from 2021 to 2025.
6. *Tax reduction for donations*
250% tax deduction for donations to charities that are Institutions of a Public Character will be extended for three more years, until 2021.
7. *Foreign domestic helper levy*
Increase from $265 to $300 for first worker. $450 for second. Take effect April 2019.
8. *Extension of S&CC rebates*
Extend for one more year
9. *Enhance housing grant*
Promixity increase from 2km to 4km for living near parents. Grant increase from $20k to $30k.
10. *New Enterprise Development Grant*
Combine IE Singapore and SPRING's existing grants, with up to 70 per cent co-funding
11. *Corporate income tax*
Rebate raise to 40%, cap at $15k for Yr2018.
20%, cap at $10k for Yr 2019.
Meanwhile, to help the marine shipyard and process sectors cope with ongoing weakness, the foreign worker levy increases will be deferred for another year.
SINGAPORE EXPATS FORUM
Singapore Expat Forum and Message Board for Expats in Singapore & Expatriates Relocating to Singapore
2018 Budget aka pork barrels
2018 Budget aka pork barrels
I not lawyer/teacher/CPA.
You've been arrested? Law Society of Singapore can provide referrals.
You want an International School job? School website or http://www.ISS.edu
Your rugrat needs a School? Avoid for profit schools
You need Tax advice? Ask a CPA
You ran away without doing NS? Shame on you!
You've been arrested? Law Society of Singapore can provide referrals.
You want an International School job? School website or http://www.ISS.edu
Your rugrat needs a School? Avoid for profit schools
You need Tax advice? Ask a CPA
You ran away without doing NS? Shame on you!
Re: 2018 Budget aka pork barrels
Not a lot of headline grabbers!!!
But with the largest Budget Surplus ever last year apparently , maybe the Govt thought it prudent to not do a lot , just put the price of cigs up

But with the largest Budget Surplus ever last year apparently , maybe the Govt thought it prudent to not do a lot , just put the price of cigs up



Life is short, paddle harder!!
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