Budget 2024: Individuals to get 50% personal income tax rebate for 2024
Add BT as a preferred source
Tan Nai Lun
DeeperDive is a beta AI feature. Refer to full articles for the facts.
AMID concerns around the rising cost of living, all tax resident individuals in Singapore will get a personal income tax rebate of 50 per cent for the year of assessment 2024.
The amount will be capped at S$200 so that the benefits go mostly to middle-income workers, said Finance Minister Lawrence Wong in his Budget speech in Parliament on Friday (Feb 16).
The rebate is expected to cost the government S$350 million.
For more of BT’s Budget 2024 coverage, go to bt.sg/budget24
Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.
Copyright SPH Media. All rights reserved.
TRENDING NOW
‘Boring’ is the new black: The stars are aligning for a Singapore stock market revival
Near sell-out launches in March boost developer sales to 1,300 units after four slow months
China pips the US if Asean is forced to choose, but analysts warn against reading it like a sports result
Genting Singapore’s Lim Kok Thay receives S$7.5 million pay package for FY2025
