Hi Ladies,
GST Offset Package as below:
Income below $24K a year, with Annual Value of Home less than
$5,000 (3 rooms and below) - $1,000 ($250/yr x 4 yrs)
Income from $24K - $100K a year, with Annual Value of Home less
than $5,000 (3 rooms and below) - $800 ($200/yr x 4 yrs)
Income below $100K a year, with Annual Value of Home more than
$5,000 but below $10,000 (all other HDB unit) - $800 ($200/yr x 4 yrs)
If your Annual Value of Home is more than $10,000 (most private homes) and
earning below $100K a year, you will get $400 ($100/yr x 4 yrs)
If your Annual Value of Home is more than $10,000 and earning more
than $100K a year, you will be getting a one time payment of $100
If you are a NSFs and NSmen - extra $100 (one time payment)
2) Post-Secondary Education Accounts (For those below 20 yrs old):
Range from $100 to $400 depending on age and Annual Value of Home
7-12 yrs old - Annual Value of Home below $10k or less - $200/yr,
otherwise
$100/yr 13-20 yrs old - Annual Value of Home below $10K or less, $400/yr,
Otherwise $200/yr
3) Senior Citizens? Bonus ? Payable by Government over 4 years:
Income below $24K a year staying in 3 rooms and below?
Age 55 to 59 ($600 - $150/yr),
Age 60 and above ($1,000 - $250/yr)
Income above $24K a year staying in 3 rooms and below?
Age 55 to 59($400 - $100/yr),
Age 60 and above ($800 - $200/yr)
Income above $24K a year staying in all other HDB unit?
Age 55 to 59($400 - $100/yr),
Age 60 and above ($800 - $200/yr)
Income $24K to 100K a year staying in private property?
Age 55 to 59 ($200 - $50/yr),
Age 60 and above ($400 - $100/yr)
4) HDB Housing Rebate
If you are staying in HDB Flat, here's the rebate on Conservancy Charges
per month for 5 years:
1 rm - $15
2 rm - $12
3 rm - $8
4 rm - $7
5 rm - $5
Exec Flat - $2.5
5) Property Tax Rebate
Up to $100/year in 2008 & 2009, 3 room and 4 room HDB owners will
pay little to no property tax for 2 years
6) Other Changes
Childcare Subsidies of $20 - $40 more a month for each child
Higher subsidies of $80/mth for Kindergarden Fee
$10 million for Public Transport Fund
Road tax cut by 8%
Remove of 1% cess from hotels and restaurants, from +++ to ++ (10% Service
and 7% GST)
7) CPF Contribution
Increase employer CPF contribution by 1.5% if monthly income is above $1,500
Reduce employer and employee CPF contribution if income is below $1,500
In order to balance up the total CPF contribution for low income earner,
they can apply for Workfare Income Supplement (WIS).
Singapore Citizen above 35 years old, earning below $1,500 a month and
living in HDB flat, who work at least 6 month in a year can apply for the
benefits up to max
of $1,200 a year, depending on age and monthly income.