There’s been a lot of news coverage about what Budget benefits you can get, so I won’t go into detail here, but I wanted to focus on
the changes in one’s personal finance strategies that this year’s Budget announcements has called for.
These include:
- New changes to CPF funds and RA caps, after age 55
- Why this may spell the death of the popular 1M65 movement
- Changes to cash top-ups for parents under the Matched Retirement Savings Scheme
- Potentially more tax reliefs for supporting your dependents
Let’s start first with the good news – the cash vouchers and goodies for every Singaporean.
- More vouchers and rebates for individuals and households
This graphic by Today gives a great summary of what we can each expect to get:
Tip: Don’t get too excited and start spending this money as a “bonus”. The payouts are meant to help offset the rising cost of living and 1% GST increase...
