Just like the "koyot" seller of old, make a lot of noises, do a lot of stances....put the coconut on the chair...want to chop..but talk, talk, talk, talk...for 30 mins ha ha ha
sounds familiar ??
lots of wayang...
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Budget 2015
- Thread starter Thick Face Black Heart
- Start date
lots of wayang...
Why are you watching?? you waiting to donate some money??
Higher salary ceiling, more contributions for older workers among CPF changes
Budget 2015: Higher salary ceiling, more contributions for older workers among CPF changes
SINGAPORE: A higher salary ceiling and restoring parity in Central Provident Fund (CPF) contributions for workers aged above 50 to 55 with those of younger workers were among the changes highlighted by Deputy Prime Minister and Finance Minister Tharman Shanmugaratnam during his Budget speech on Monday (Feb 23).
Following the Government's acceptance of the recommendations proposed by the CPF Advisory Panel earlier this month, Mr Tharman shed more light on the changes to the CPF system.
For one, the CPF salary ceiling will be raised from the current S$5,000 to S$6,000 with effect from Jan 1, 2016. Middle-income Singaporeans will be able to accumulate more CPF savings during their working years, and the increase will benefit at least 544,000 CPF members, he said.
In line with the increase in salary ceiling, the Government will raise the contribution cap within the Supplementary Retirement Scheme, which offers tax incentives to encourage voluntary retirement savings to complement the CPF, he added.
INCREASED CONTRIBUTION FOR OLDER WORKERS
As for older workers, Mr Tharman said the CPF contribution rates will be restored for workers aged above 50 to 55 to the same level as those for younger workers. Specifically, the contribution rates for these workers will go up by two percentage points in 2016 - 1 per cent from the employer, and 1 per cent from the employee.
For workers aged above 55 to 60, employers' contribution rate will be upped by 1 percentage point, and raised 0.5 percentage points for workers aged above 60 to 65, he said, adding the changes will take effect from Jan 1, 2016.
The increase in employer contributions will go to the Special Account, while the increase in employee contribution will go to the Ordinary Account.
Additionally, Mr Tharman said to make the CPF system "more progressive", it would pay an additional 1 per cent extra interest on the first S$30,000 of CPF balances from the age of 55. This is on top of the existing 1 per cent extra interest provided on the first S$60,000 of balances, he said.
Around 60 per cent of today's CPF members aged 55 and older would earn 6 per cent on their CPF savings, and around 80 per cent will earn at least 5 per cent. This will take effect from Jan 1, 2016, the minister said.
- CNA/kk
http://www.channelnewsasia.com/news/singapore/budget-2015-higher-salary/1674502.html
Budget 2015: Higher salary ceiling, more contributions for older workers among CPF changes
SINGAPORE: A higher salary ceiling and restoring parity in Central Provident Fund (CPF) contributions for workers aged above 50 to 55 with those of younger workers were among the changes highlighted by Deputy Prime Minister and Finance Minister Tharman Shanmugaratnam during his Budget speech on Monday (Feb 23).
Following the Government's acceptance of the recommendations proposed by the CPF Advisory Panel earlier this month, Mr Tharman shed more light on the changes to the CPF system.
For one, the CPF salary ceiling will be raised from the current S$5,000 to S$6,000 with effect from Jan 1, 2016. Middle-income Singaporeans will be able to accumulate more CPF savings during their working years, and the increase will benefit at least 544,000 CPF members, he said.
In line with the increase in salary ceiling, the Government will raise the contribution cap within the Supplementary Retirement Scheme, which offers tax incentives to encourage voluntary retirement savings to complement the CPF, he added.
INCREASED CONTRIBUTION FOR OLDER WORKERS
As for older workers, Mr Tharman said the CPF contribution rates will be restored for workers aged above 50 to 55 to the same level as those for younger workers. Specifically, the contribution rates for these workers will go up by two percentage points in 2016 - 1 per cent from the employer, and 1 per cent from the employee.
For workers aged above 55 to 60, employers' contribution rate will be upped by 1 percentage point, and raised 0.5 percentage points for workers aged above 60 to 65, he said, adding the changes will take effect from Jan 1, 2016.
The increase in employer contributions will go to the Special Account, while the increase in employee contribution will go to the Ordinary Account.
Additionally, Mr Tharman said to make the CPF system "more progressive", it would pay an additional 1 per cent extra interest on the first S$30,000 of CPF balances from the age of 55. This is on top of the existing 1 per cent extra interest provided on the first S$60,000 of balances, he said.
Around 60 per cent of today's CPF members aged 55 and older would earn 6 per cent on their CPF savings, and around 80 per cent will earn at least 5 per cent. This will take effect from Jan 1, 2016, the minister said.
- CNA/kk
http://www.channelnewsasia.com/news/singapore/budget-2015-higher-salary/1674502.html
Re: Higher salary ceiling, more contributions for older workers among CPF changes
Yes Dad!! We will remember Roy fondly as we get drunk over our improved CPF returns while he sells his backside to pay off his bankruptcy.
Yes Dad!! We will remember Roy fondly as we get drunk over our improved CPF returns while he sells his backside to pay off his bankruptcy.
Re: Higher salary ceiling, more contributions for older workers among CPF changes
Calling Tonychat...
Calling Tonychat...
Re: Higher salary ceiling, more contributions for older workers among CPF changes
You are absolutely right.
Roy, thank you. Hui Hui, you too.
You are absolutely right.
Roy, thank you. Hui Hui, you too.
50% rebate on personal income for middle-income workers
Budget 2015: 50% rebate on personal income for middle-income workers
The cap is set at S$1,000 so the benefits will go mainly to the middle and upper-middle income groups, says Deputy Prime Minister and Finance Minister Tharman Shanmugaratnam.
SINGAPORE: As a way to aid middle-income taxpayers, a rebate for personal income tax was announced by Deputy Prime Minister and Finance Minister Tharman Shanmugaratnam on Monday (Feb 23) in his Budget announcement.
Middle-income taxpayers will receive a 50 per cent tax rebate, capped at S$1,000, Mr Tharman said. This is to ensure the benefits go mainly to the middle and upper-middle income groups, he added.
The tax rebate will be for the Year of Assessment (YA) 2015, or for income earned in 2014. About 1.5 million individuals will benefit from the tax rebate, and will cost the Government S$717 million, the minister said.
http://www.channelnewsasia.com/news/singapore/budget-2015-50-rebate-on/1674844.html
Budget 2015: 50% rebate on personal income for middle-income workers
The cap is set at S$1,000 so the benefits will go mainly to the middle and upper-middle income groups, says Deputy Prime Minister and Finance Minister Tharman Shanmugaratnam.
SINGAPORE: As a way to aid middle-income taxpayers, a rebate for personal income tax was announced by Deputy Prime Minister and Finance Minister Tharman Shanmugaratnam on Monday (Feb 23) in his Budget announcement.
Middle-income taxpayers will receive a 50 per cent tax rebate, capped at S$1,000, Mr Tharman said. This is to ensure the benefits go mainly to the middle and upper-middle income groups, he added.
The tax rebate will be for the Year of Assessment (YA) 2015, or for income earned in 2014. About 1.5 million individuals will benefit from the tax rebate, and will cost the Government S$717 million, the minister said.
http://www.channelnewsasia.com/news/singapore/budget-2015-50-rebate-on/1674844.html
Petrol duty rates up, but offset by one-off road tax rebate
Budget 2015: Petrol duty rates up, but offset by one-off road tax rebate
Deputy Prime Minister Tharman Shanmugaratnam also announced that the Carbon Emission Vehicle Scheme, which sees rebates given out with purchase of environmentally-friendly cars based on their emission levels, will be extended for two years, until Jun 30, 2017.
SINGAPORE: Petrol duty rates are set to increase, but this increase in expenditure for drivers will be partially offset by a one-off road tax rebate, Deputy Prime Minister and Finance Minister Tharman Shanmugaratnam announced in his Budget 2015 speech on Monday (Feb 23).
Petrol duty rates are set to rise by S$0.20 for premium grade petrol, and by S$0.15 for intermediate grade petrol, Mr Tharman said. This adds up to a petrol duty rate of S$0.64 and S$0.56 per litre for premium and intermediate grade petrol respectively.
However, vehicle owners will enjoy a one-year road tax rebate. The rebate wsill be 20 per cent for cars, 60 per cent for motocycles and 100 per cent for commercial vehicles.
The Deputy Prime Minister also announced that the Carbon Emission Vehicle Scheme, which sees rebates given out with purchase of environmentally-friendly cars based on their emission levels, will be extended for two years, until Jun 30, 2017. There will be refinements to encourage a further shift to greener cars, he added.
The Early Turnover Scheme will also be enhanced from August this year to further encourage the replacement of older commercial vehicles with greener vehicles, he announced.
- CNA/es
http://www.channelnewsasia.com/news/singapore/budget-2015-petrol-duty/1674428.html
Budget 2015: Petrol duty rates up, but offset by one-off road tax rebate
Deputy Prime Minister Tharman Shanmugaratnam also announced that the Carbon Emission Vehicle Scheme, which sees rebates given out with purchase of environmentally-friendly cars based on their emission levels, will be extended for two years, until Jun 30, 2017.
SINGAPORE: Petrol duty rates are set to increase, but this increase in expenditure for drivers will be partially offset by a one-off road tax rebate, Deputy Prime Minister and Finance Minister Tharman Shanmugaratnam announced in his Budget 2015 speech on Monday (Feb 23).
Petrol duty rates are set to rise by S$0.20 for premium grade petrol, and by S$0.15 for intermediate grade petrol, Mr Tharman said. This adds up to a petrol duty rate of S$0.64 and S$0.56 per litre for premium and intermediate grade petrol respectively.
However, vehicle owners will enjoy a one-year road tax rebate. The rebate wsill be 20 per cent for cars, 60 per cent for motocycles and 100 per cent for commercial vehicles.
The Deputy Prime Minister also announced that the Carbon Emission Vehicle Scheme, which sees rebates given out with purchase of environmentally-friendly cars based on their emission levels, will be extended for two years, until Jun 30, 2017. There will be refinements to encourage a further shift to greener cars, he added.
The Early Turnover Scheme will also be enhanced from August this year to further encourage the replacement of older commercial vehicles with greener vehicles, he announced.
- CNA/es
http://www.channelnewsasia.com/news/singapore/budget-2015-petrol-duty/1674428.html
Re: 50% rebate on personal income for middle-income workers
You sound like a PAP spokesman
You sound like a PAP spokesman
Re: Higher salary ceiling, more contributions for older workers among CPF changes
For those earning $6000 or more, your disposable income is lesser by $200.
Of course CPF contribution is more.
For those earning $6000 or more, your disposable income is lesser by $200.
Of course CPF contribution is more.
Re: 50% rebate on personal income for middle-income workers
Just quoting CNA. You think too much.
You sound like a PAP spokesman
Just quoting CNA. You think too much.
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Re: Higher salary ceiling, more contributions for older workers among CPF changes
Words of amazing clarity from the master. Rare but it happens from time to time.
Words of amazing clarity from the master. Rare but it happens from time to time.
Re: Petrol duty rates up, but offset by one-off road tax rebate
So nice of them to give a one time only tax rebate to offset them raising tax perpetually. I think they collecting pek kim lui in advance, then can shoot fireworks on 1 Mar.
So nice of them to give a one time only tax rebate to offset them raising tax perpetually. I think they collecting pek kim lui in advance, then can shoot fireworks on 1 Mar.
Re: 50% rebate on personal income for middle-income workers
u r suffering from p e ... :o
Strange policy. I've always thought that those earning the 2k to 3k are the ones most affected by retirement funds (minimum sum) and not the 6k and above. This scheme feels like getting more funds for cpf rather than helping middle income to save.
Re: Higher salary ceiling, more contributions for older workers among CPF changes
They just come up with some sham excuse to put more money into CPF.
On 1 hand, they raise the CPF contribution salary ceiling, on the other hand, they give more interest on your first $60,000 when you are 55. Sounds like an enforced ponzi scheme to me.
Always remember that alcohol is the cause of the Little India Riots, funny thing is you don't see burning police cars and ambulances at Clark Quay every wed, fri, sat night.
They just come up with some sham excuse to put more money into CPF.
On 1 hand, they raise the CPF contribution salary ceiling, on the other hand, they give more interest on your first $60,000 when you are 55. Sounds like an enforced ponzi scheme to me.
Always remember that alcohol is the cause of the Little India Riots, funny thing is you don't see burning police cars and ambulances at Clark Quay every wed, fri, sat night.
Re: Higher salary ceiling, more contributions for older workers among CPF changes
For those who are already 55 yo and above and meets the MS, the increase is a good thing. This is because they can withdraw the delta above the MS every year. Further they will pay lesser tax due to the higher tax relief from the higher CPF contribution.
For those who are already 55 yo and above and meets the MS, the increase is a good thing. This is because they can withdraw the delta above the MS every year. Further they will pay lesser tax due to the higher tax relief from the higher CPF contribution.
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