News

BUDGET BITES

SG50 CHARITY

Education institutions will receive Government support for their charity work in the causes of their choice: $20,000 per school, $150,000 per polytechnic and $250,000 per ITE.

SG50 TAX

Tax deduction will be increased from 250 per cent to 300 per cent for donations made. Together with the Care and Share matching grant support, this means that the Government will be doubling every dollar donated this year.

PETROL AND ROAD TAX

From yesterday, petrol duty rates were raised by $0.20 per litre for premium grade petrol and $0.15 for intermediate grade petrol. This will be offset by road tax rebates for this year - 20 per cent for cars, 60 per cent for motorcycles and 100 per cent for commercial vehicles. Foreign worker levyLevy increases for S Pass and Work Permit holders for all sectors will be deferred this year. The current levy for Work Permit holders in manufacturing will be unchanged for two more years.

There will be levy changes in construction to incentivise upgrading and hiring of higher-skilled workers.

INFRASTRUCTURE

Development of Changi Airport T5 will be very costly, so a new Changi Airport Development Fund will be formed, with an initial injection of $3 billion.

There will also be big investments into improving public transport and developing heartlands, as well as expanding the healthcare system.