Singapore Government has just announced that households will get a 20% personal income tax rebate for 2009 assessment. This certainly a good news for most people in Singapore especially at this time of global economy crisis. Year 2009 is going to be a tough year for everyone especially those businesses that is affected by the current crisis.
This measure by the government is certainly much appreciated by everyone in Singapore. Cheers to the effeciency of Singaproe Government
SINGAPORE: Households will get a 20 per cent personal income tax rebate for Year of Assessment 2009, capped at S$2,000.
There will also be 40 per cent property tax rebate for owner-occupied homes in 2009.
Together, these two tax rebates will cost the government S$532 million (S$75 million for property tax rebates and S$457 for income tax rebates).
Home-buyers will also get more help to pay for their first home.
The Additional CPF Housing Grant for first time home-buyers will be increased from S$30,000 to S$40,000.
The household income ceiling to qualify for this will also be raised from S$,4000 to S$5,000.
8,000 home-buyers are expected to benefit from this scheme each year costing the government about S$150 million per year.
source: ChannelnewsAsia
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