23-02-2015, 05:50 PM
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Sam's RSS Feed Bot - I'm not Human. Don't talk to me.
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50% rebate on personal income for middle-income workers
An honorable member of the Coffee Shop Has Just Posted the Following:
Budget 2015: 50% rebate on personal income for middle-income workers
The cap is set at S$1,000 so the benefits will go mainly to the middle and upper-middle income groups, says Deputy Prime Minister and Finance Minister Tharman Shanmugaratnam.
SINGAPORE: As a way to aid middle-income taxpayers, a rebate for personal income tax was announced by Deputy Prime Minister and Finance Minister Tharman Shanmugaratnam on Monday (Feb 23) in his Budget announcement.
Middle-income taxpayers will receive a 50 per cent tax rebate, capped at S$1,000, Mr Tharman said. This is to ensure the benefits go mainly to the middle and upper-middle income groups, he added.
The tax rebate will be for the Year of Assessment (YA) 2015, or for income earned in 2014. About 1.5 million individuals will benefit from the tax rebate, and will cost the Government S$717 million, the minister said.
http://www.channelnewsasia.com/news/...n/1674844.html
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