, Singapore
Photo by Jahoo Clouseau: https://www.pexels.com/photo/photography-of-city-during-dusk-867092/

Budget 2024: Singapore to issue 50% personal income tax rebate

The rebate is capped at $200.

Singaporeans will get a 50% personal income tax rebate capped at $200 for 2024 due to concerns over the cost of living.

During his budget delivery, Deputy Prime Minister Lawrence Wong said the move, which will benefit middle-class income workers, will cost the government $350m.

Aside from this, the government will increase the annual income threshold for dependent-related reliefs to $8,000 by 2025.

This is double the current threshold for dependent-related reliefs which stands at $4,000.

Follow the link for more news on

Join Singapore Business Review community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!