Singapore Budget (edited 23/06/2011)

1. Key Budget Initiatives

1.1 Benefit for Households
The government will distribute total of $3.2 Million under the ‘Grow and Share’ Package. It will benefit all Singaporeans with those in the Lower and middle-income families benefiting more significantly.

1.1.1 One-off Benefits for Household: ‘Grow and Share’ Package

1.1.1.1 Rewarding Working Singaporeans

- Workfare Special Bonus

-- Personal Income Tax Rebate

1.1.1.2 Supporting families with Children

- Child Development Credit
- Top up to School Advisory Committees/School Management Committees Fund and SPED School Boards

1.1.1.3 Providing the best care for our seniors

- Top up to CPF MediSave accounts

1.1.1.4 Helping the needy

- Additional Funding to Voluntary Welfare Organisations and Self-help Groups

1.1.1.5 Additional measures in the ‘grow and share’ package

- Growth Dividends
- Utilities-save and Service And Conservancy Charge Rebates

1.1.2 Longer-Term Social Investments to benefit households

1.1.2.1 Providing the Best Care for our seniors

- Eldercare Fund Top-up

- Community Silver Trust

- Medifund Top-up

1.1.2.2 Helping the needy

- ComCare fund Top-up

- Lifelong Learning

- Lifelong learning endowment funds

1.1.3 Permanent Shifts in Taxes and Subsidies

1.1.3.1 Boosting skills and productivity

- Training Support for Professionals, Managers, Executives and Technicians

1.1.3.2 Rewarding Working Singaporeans

- Reduction of Personal Income Tax
- Removing Radio and Television Licence Fee
- Raising Employer CPF Contribution Rates
- Revision to CPF Salary Ceiling
- Adjustment of Contribution Cap of Supplementary Retirement Scheme
- Helping Self-Employed Persons

1.1.3.3 Supporting Families with Children

- Kindergarten Financial Assistance Scheme and Centre-Based Financial Assistance Scheme for Childcare
- Ministry of Education Financial Assistance Scheme for SPED Schools
- Enhanced Bursaries for Polytechnic and University Students

1.1.3.4 Providing the best care for our seniors

- Programmes to help the Elderly Immobile

1.1.3.5 Helping the needy

- Public Assistance Scheme and Singapore Allowance
- Enhanced Tax Deduction for Donation to Institutions of Public Character

1.1.3.6 Enhancing Homes and Our Quality of Life

- Special CPF Housing Grant
- Rejuvenating our heartlands
- Building a vibrant arts and culture environment
- Miscellaneous Tax Initiatives

1.2 Benefit for Business

1.2.1 One-off Measures for Businesses

1.2.1.1 Helping company with rising costs

- Corporate Income Tax Rebate or SME (Small-Medium Enterprises) Cash Grant

1.2.1.2 Encouraging employment of older, lower-wage workers

- Special Employment Credit

1.2.2 Longer-Term Measures for Businesses

1.2.2.1 Boosting skills and productivity

- Doubling our Investment in the National Productivity Fund
- Enhancing Productivity and Innovation Credit
- Raising Employer CPF Contribution Rate
- Revision in CPF Salary Ceiling
- Further Increases in Foreign Worker Levy

1.2.2.2 Supporting Enterprise Growth

- Enterprise Development Fund
- Foreign Tax Credit Pooling
- Catalysing Cross-Border Financing
- National Research Fund Top-up
- Enterprise Development Assistance Scheme
- Key Tax Changes in Strategic Business Sectors
(a) Financial Sector
(b) Maritime Sector
(c) Biomedical Sector
(d) Specified Services Supplied to Overseas Persons
(e) Commodity Markets

1.2.2.3 Miscellaneous Tax Initiatives

- Helping Self-Employed Persons
- Removing Radio and Television Licence Fees
- Tax Deductions on Pre-Commencement Expenses
- Tax Deductions for Employee Equity-based Remuneration Scheme
- Excise Taxes on Non-Cigarette Tobacco Products
- Extend Green Vehicle Rebate Scheme

2. Division of Budget

1st: Ministry of Defence (MINDEF): $12.08 Billions

2nd: Ministry of Education (MOE) : $10.9 Billions

Last: Ministry of Foreign Affairs (MFA): $407 Millions

Note: For 'Grow and Share' Package, you can refer to this link too