Central Provident Fund
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CPF members who meet the minimum sum in their Ordinary and Special
Accounts must set aside $2,500 in their CPF Medisave account when they
make withdrawals.
This sum will increase by $2,500 every year to reach $25,000 in
2013. |
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The salary ceiling will be lowered from $6,000 to $5,500.
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The limit on voluntary CPF contributions will be lowered to
$23,760, down from the limit of $28,800 last year. |
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The tax deduction limit for the self-employed will be $21,780,
following changes in the salary ceiling. |
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The cap on CPF withdrawal for the purchase of private residential
properties and Housing Board flats financed with bank loans will be
reduced to 144 per cent from 150 per cent. |
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A 2 per cent cash down payment for HDB flats fi- nanced with bank
loans will be introduced. |
Postage
From Feb 3, Singapore Post will be increasing the price for
standard mail weighing 20g and 40g by one cent to $0.23 and $0.31
respectively.
Transport
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The Land Transport Authority's green vehicle rebates will continue
for two more years until Dec 31, 2005. These rebates apply to owners
of electric or hybrid cars and compressed natural gas vehicles.
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From tomorrow, Electronic Road Pricing rates will revert to the
same rates as before December, increasing by 50 cents for all time
periods at most gantries. |
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Motorists who have parking coupons valid for 2001 to 2003 can
exchange them for new ones throughout the year at HDB branch offices,
the Urban Redevelopment Authority Customer Service Centre and URA
carpark kiosks at Changi Airport. |
Education
From this month, every Singaporean child - not just the first three
children of each family - between six and 16 years old will be
eligible for an Edusave account and an annual Edusave Pupils Fund
contribution.
Welfare
The Ministry of Community Development and Sports' Home Ownership
Plus Education (Hope) scheme will take effect this month.
Married couples with no more than two children and with a monthly
household income of $1,500 or below will be eligible for benefits such
as educational bursaries and cash grants.
Civil service
From this month, the Government will cut starting pay in the civil
service by up to 20 per cent to keep salaries in line with private
sector ones.
