This document presents Singapore's budget for fiscal year 2014, including estimates of operating revenue, total expenditure, and various surpluses and deficits. It shows that operating revenue is estimated to increase by 4.1% to $59.51 billion, while total expenditure is projected to rise 8.3% to $56.66 billion. After accounting for special transfers and net investment returns, the overall budget surplus is estimated to be $1.16 billion.

1. T A BLE 1.1 B U D G E T FOR FY2014
Revised
FY2013
Estimated
FY2014
Change over
Revised FY2013
OPERATING REVENUE
Corporate Income Tax
Personal Income Tax
Withholding Tax
Statutory Boards’ Contributions
Assets Taxes
Customs and Excise Taxes
Goods and Services Tax
Motor Vehicle Taxes
Vehicle Quota Premiums
Betting Taxes
Stamp Duty
Other Taxes
Other Fees and Charges
Others
Less:
TOTAL EXPENDITURE
Operating Expenditure
Development Expenditure
PRIMARY SURPLUS / DEFICIT1
Less:
SPECIAL TRANSFERS2
$billion
57.15
12.55
7.65
1.13
0.53
4.23
2.20
9.52
1.69
2.76
2.34
4.05
5.26
2.93
0.32
52.34
40.43
11.91
4.80
8.82
$billion
59.51
13.03
8.79
1.19
0.49
4.35
2.61
10.11
1.36
2.95
2.58
2.84
5.82
3.07
0.32
56.66
42.88
13.78
2.85
12.11
$billion
2.37
0.49
1.14
0.06
(0.04)
0.12
0.41
0.58
(0.33)
0.20
0.25
(1.22)
0.55
0.14
0.00
4.32
2.45
1.87
3.29
% change
4.1
3.9
14.9
5.7
(7.4)
2.7
18.9
6.1
(19.5)
7.1
10.6
(30.0)
10.5
4.9
1.5
8.3
6.1
15.7
37.4
Special Transfers Excluding Top-ups to Endowment and Trust Funds
GST Voucher Special Payment3
Utilities-Save Rebates and Service and Conservancy Charges Rebates
CPF Medisave Top-ups
Pioneer Generation Package
Productivity and Innovation Credit
Productivity and Innovation Credit Bonus
Wage Credit Scheme
SME Cash Grant
Other Transfers4
BASIC SURPLUS / DEFICIT5
Top-ups to Endowment and Trust Funds
Top-up to Endowment Funds6
GST Voucher Fund
Cultural Matching Fund7
National Youth Fund
Pioneer Generation Fund
3.22 3.61
0.68 0.28
0.08 0.08
0.31 0.12
- 0.26
0.65 0.74
0.64 0.32
0.82 1.76
0.04 0.03
0.01 0.02
1.58 (0.76)
5.59 8.50
2.32 0.50
3.00
-0.20
-
0.07 -
- 8.00

2. Add:
NET INVESTMENT RETURNS CONTRIBUTION 7.94 8.10 0.16 2.0
OVERALL BUDGET SURPLUS / DEFICIT 3.92 (1.16)
Note: Due to rounding, figures may not add up. Negative figures are shown in parentheses.
1 Surplus / Deficit before Special Transfers and Net Investment Returns Contribution.
2 Special Transfers include Top-ups to Endowment and Trust Funds.
3 The Special Payment committed in Budget 2013 consists of a cash component, Utilities-Save Rebates and CPF Medisave Top-ups. The Special
Payment introduced in Budget 2014 comprises the GST Voucher – Cash: Seniors’ Bonus and Utilities-Save Rebates.
4 Consists of Growth Dividends, GST Credits, Child Development Credits, Top-ups to Post-Secondary Education Accounts, public transport vouchers
and funds set aside for Self-Help Groups and Voluntary Welfare Organisations.
5 Surplus / Deficit before Top-ups to Endowment and Trust Funds and Net Investment Returns Contribution.
6 Consists of the Community Care Endowment Fund, Edusave Endowment Fund, ElderCare Fund, Lifelong Learning Endowment Fund and Medical
Endowment Fund.
7 The Cultural Donation Matching Fund has been re-named as the Cultural Matching Fund.