Finance Minister Heng Swee Keat delivered the Singapore Budget 2017 on Mon 20 Feb. Since I have spent a few years working in the tax division of accounting firms in Australia and Singapore, the Budget speech is something I have gotten used to following every year. It has become a habit to review the corporate, personal and other tax measures that are announced then. But let’s focus on how this Singapore Budget 2017 is going to impact my wife and I. I’m sure everyone else is doing the same and the impact can vary according to your personal circumstances.

Personal income tax rebate

This is one of the first things I check for every Budget since it usually has the most significant impact on me as a salaried employee. Which is why I was pleased to see that there will be a personal income tax rebate of 20% of tax payable ......