Friday, February 18, 2005

:: Budget 2005::

damn...just a blog about cigarettes..and now, it gonna cost even more.
but it is all all bad though, couple of good stuff too...
more details here

BUDGET HIGHLIGHTS

  • Singapore revises FY04 $1.3b deficit to $160m surplus
  • Budget aims to create opportunity, build stronger community
  • Government to press on with economic restructuring, give extra help those who are struggling
  • Singapore must foster culture of opportunity, make economy more resilient: PM Lee
  • Top personal income tax to be cut to 21% in YA06, then to 20% in YA07
  • Income tax cuts to save taxpayers more than S$150m in YA06
  • Stamp duty for transfer of properties into REITs waived, withholding tax on REIT distributions halved to 10% for 5 years
  • Decision on casino most likely by mid-April, Tourism Board to invest $40m over 3 years to enhance Orchard Road
  • Tax relief for SMEs to help cope with cash-flow problems in downturn
  • Lower cost for SMEs doing business with Government
  • Government to allow 1-yr loss carry-back for corporate tax, capped at $100,000
  • Govt to top up $500m for Lifelong Learning Fund to help worker re-skilling
  • Govt to finetune foreign worker policies to allow controlled inflow, firms heeding more foreign workers can hire beyond dependency ceiling
  • Another 3% cut in ministry budgets, for total reduction of 5%
  • No move to current year basis of assessment for income tax
  • One-off $100 top-up to Edusave account of primary, secondary students
  • $50-$350 Medisave top-ups for adult Singaporeans, depending on age
  • $100 top-up for CPF Special accounts for 50-year-olds & above
  • Liberalise co-savings portion of Baby Bonus for child's development
  • Foreign maid levy cut by $50 with effect from 1 Apr 2005
  • Excise duty for cigarettes to rise 20%
  • Horse betting duty doubles to 25% of gross betting profits

5 comments:

TR said...
This comment has been removed by a blog administrator.
TR said...

"Horse betting duty doubles to 25% of gross betting profits"Egads! Does that mean no more outings to Turf Club for me? :bawls:

Cowboy Caleb said...

rokok naik harga lagi... sigh

aGent X said...

TR --> Turf Club must pay more money to 'gahmen'...so for the outings..instead of the SSO, it will be Chap Ge Chek Opera Group..heheh

Cowboy --> apa mahu buat? pergi JB lebih banyak kali lagi...heheh

Anonymous said...

Its an amazing story she posted about the . I heard about it at www.horseoutlet.com as well last week.