If you missed out on the key announcements from this year's Budget, here's a look at the highlights from Finance Minister Lawrence Wong's Budget statement in Parliament on Friday.
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Singapore to raise GST from 7% to 9% in two stages in 2023 and 2024
The Assurance Package to cushion the impact of the GST hike, will also receive a boost of $640 million, totalling $6.6 billion.
What help will Singaporeans get to offset the GST hike?
Households to get more rebates, $100 CDC voucher
Eligible HDB households will receive double their regular GST Voucher - U-Save in April, July and October.
Highlights: GST hike, higher income tax for top earners and CDC vouchers for all
Salary thresholds for new Employment Pass, S Pass applicants to be raised
CPF Basic Retirement Sum to be raised by 3.5% per year from 2023 to 2027
There is no requirement for members to top up their CPF if they are unable to set aside the sum.
Tax rates for residential properties to be raised, as Singapore adjusts wealth taxes
Higher personal income taxes for top 1.2% of taxpayers in S'pore
$100m set aside to help firms implement training and transformation plans
Part of money will go to a new NTUC grant for firms that have set up company training committees to reskill workers.
Carbon tax could increase to $80 per tonne of emissions by 2030
The move will help the nation reach new, more ambitious climate goals announced on Friday.
