The document discusses key budget benefits for different groups in Singaporean society, including families, low-wage workers, elderly retirees, the needy and disadvantaged, professionals and managers, technical executives and specialists (PMETS), and business owners. The budget aims to help Singaporeans through measures like subsidies, tax rebates, skills training programs, and investments in areas like public transport and healthcare. Overall, the government seeks to restructure the economy to create better jobs and quality of life while fostering a fair and inclusive society.
IPPs or Individual Pension Plans are becoming more attractive among business owners and incorporated professionals to minimize corporate taxes, enhance retirement income and creditor protect assets.
"Powered by Mazars", A series of seminars for independant accounts. This presentation focuses on share schemes, employee benefits, pension planning and remuneration planning.
As practitioners, policy-makers and politicians continue to operate in such fragile economic conditions, questions are being asked in relation to responding to the crunch and planning for the upturn. Indeed, a Government colleague contacted me at work the other day in a rush to gather some intelligence on ‘what local authorities are doing to respond to the recession’. Apparently, a Minister had been getting ‘quite vocal that he isn’t hearing about what local authorities are doing and so we’re compiling evidence of what we are doing to help people at the current time’. So in addition to supplying information about what I was doing on behalf of Durham County Council and the County Durham Economic Partnership, I decided to initiate a fact finding mission of what others are doing within the North East and further afield.
IPPs or Individual Pension Plans are becoming more attractive among business owners and incorporated professionals to minimize corporate taxes, enhance retirement income and creditor protect assets.
"Powered by Mazars", A series of seminars for independant accounts. This presentation focuses on share schemes, employee benefits, pension planning and remuneration planning.
As practitioners, policy-makers and politicians continue to operate in such fragile economic conditions, questions are being asked in relation to responding to the crunch and planning for the upturn. Indeed, a Government colleague contacted me at work the other day in a rush to gather some intelligence on ‘what local authorities are doing to respond to the recession’. Apparently, a Minister had been getting ‘quite vocal that he isn’t hearing about what local authorities are doing and so we’re compiling evidence of what we are doing to help people at the current time’. So in addition to supplying information about what I was doing on behalf of Durham County Council and the County Durham Economic Partnership, I decided to initiate a fact finding mission of what others are doing within the North East and further afield.
Alert! Social Security is not enough to live on by itself. Monthly Social Security payments account for 25-30% of a person's total income in retirement. It was never intended to be the only source of income. there is an old saying "if it is meant to be, it is up to me". Saving for one's retirement is not a nice to do, but it is a MUST DO! If you have any further questions on which retirement plan might be best for you to set up, just give me a call to discuss.
10-page summary of all measures announced during Budget 2016
Read web version here: http://www.singaporebudget.gov.sg/budget_2016/BudgetMeasures/BudgetinBrief.aspx
Grant Thornton - Pensions auto enrolment UKGrant Thornton
The Pensions Act 2011 confirming the requirement to automatically enrol staff into a pension plan was enacted on 3 November 2011. Implementing these changes to existing pension and benefit schemes could carry significant costs but with some advance planning it may be possible to mitigate some of the costs and reduce the disruption to your business.
10 Pearls, Rewards, compensation and benefits, Core Values, Innovation, Quality, Transparency, Customer Success, Changes after post- covid, Challenges faced by 10 Pearls, Challenges to be expected in the reward system.
Alert! Social Security is not enough to live on by itself. Monthly Social Security payments account for 25-30% of a person's total income in retirement. It was never intended to be the only source of income. there is an old saying "if it is meant to be, it is up to me". Saving for one's retirement is not a nice to do, but it is a MUST DO! If you have any further questions on which retirement plan might be best for you to set up, just give me a call to discuss.
10-page summary of all measures announced during Budget 2016
Read web version here: http://www.singaporebudget.gov.sg/budget_2016/BudgetMeasures/BudgetinBrief.aspx
Grant Thornton - Pensions auto enrolment UKGrant Thornton
The Pensions Act 2011 confirming the requirement to automatically enrol staff into a pension plan was enacted on 3 November 2011. Implementing these changes to existing pension and benefit schemes could carry significant costs but with some advance planning it may be possible to mitigate some of the costs and reduce the disruption to your business.
10 Pearls, Rewards, compensation and benefits, Core Values, Innovation, Quality, Transparency, Customer Success, Changes after post- covid, Challenges faced by 10 Pearls, Challenges to be expected in the reward system.
Summary of Budget 2016 presented in slide format for grassroots briefing
View the website version here: http://www.singaporebudget.gov.sg/budget_2016/BudgetMeasures.aspx
Employee allowances - compensation management - Manu Melwin Joymanumelwin
Allowance is a sum of money paid regularly to a person, typically to meet specified needs or expenses. Allowances are generally calculated on basic salary.
A Taxation and Benefits System to End Child Poverty - John DickieOxfam GB
John Dickie, head of the Child Poverty Action Group Scotland, talks about how a different taxation and benefits system can help end child poverty.
The Whose Economy? seminars, organised by Oxfam Scotland and the University of the West of Scotland, brought together experts to look at recent changes in the Scottish economy and their impact on Scotland's most vulnerable communities.
Held over winter and spring 2010-11 in Edinburgh, Inverness, Glasgow and Stirling, the series posed the question of what economy is being created in Scotland and, specifically, for whom?
To find out more and view other Whose Economy? papers, presentations and videos visit:
http://www.oxfamblogs.org/ukpovertypost/whose-economy-seminar-series-winter-2010-spring-2011/
CBIZ Manufacturing & Distribution Quarterly Newsletter – June 2021CBIZ, Inc.
This issue newsletter tackles two of the hottest topics for the Manufacturing & Distribution sectors – supply chain challenges and the newly supercharged employee retention tax credit (ERTC). The article on innovations in employee benefits informs another critical operational issue – that of staffing – as employee benefits are key to recruiting and retaining qualified employees. Articles on managing insurance costs (and links to a pre-renewal data checklist) and how to work with the U.S. Commercial Service to access global markets round out this packed issue. As an added bonus, News from the NAM provides cutting edge industry commentary.
Want to know about incentives for expanding your business? You're in the right place. The Greater Burlington Partnership economic development team has organized this presentation to give you an overview of the incentives that could be available for business expansion in Greater Burlington, Iowa.
3. Key Budget Benefits
for Families Mr and Mrs Ong can look forward to easier
access to pre-school education and more
school based student care for their children.
• Reduced FDW levy
• GST Vouchers
- U-Save *Mr Ong’s Family
• Service and Household Income: $7,000
Conservancy Charges Housing Type: 4 room flat
(S&CC) Rebates
Employs a Foreign Domestic Worker
• Personal Income Tax
Rebate
• More progressive
property tax
• Enhanced pre-school
education
• More school based
student care
4. Key Budget
Benefits for Mr Lim will be getting higher CPF contribution from
his employer.
Low Wage His employer will also encouraged to share
Workers productivity gains through pay raises with the WCS.
• Enhanced and
Expanded Workfare
Income Supplement
Scheme * Mr Lim, 45, Cleaner, Income: $1,000
• More training Housing Type: 3 room flat
opportunities with
enhanced WTS
• GST Vouchers
- Service and
Conservancy Charges
(S&CC) Rebates
• Higher CPF contribution
• Wage Credit Scheme
5. Mr and Mrs Halim will enjoy subsidies for a wider
Key Budget range of assistive devices (e.g. motorised wheelchairs,
shower chairs and hearing aids) for to help them
Benefits for stay active and independent.
Elderly Retirees The fund will also subsidise healthcare consumables
for low income seniors living at home.
One-off MediSave Top
Up
GST Vouchers
• Service and
* Mr Halim, 72 and Mrs Halim 68, Retirees
Housing Type: 3 room flat
Conservancy Charges
(S&CC) Rebates
• Expanded Senior’s
Mobility and Enabling
Fund
6. Key Budget Benefits Mary can look forward to more accessible help
for the Needy & with the new one- stop social service offices in
HDB towns.
Disadvantaged
• Increased Public
* Mary, 50, is wheelchair bound and
suffers from chronic illness
Assistance Housing Type: 1 room flat
• GST Vouchers
• Service and
Conservancy Charges
(S&CC) Rebates
• 20 new Social Service
Offices in HDB towns
7. Key Budget Benefits Murali can look forward to upgrading with
for PMETS training programs tailored specially for PMETs
under STEP and CaliberLink, a one-stop service
• Personal Income Tax that integrates training assistance with career
Rebate services.
• Progressive Property Tax
• GST Vouchers *Murali, 30, accountant. Income: $4,500
• Service and Conservancy Housing Type: 5 room flat
Charges (S&CC) Rebates
• Skills Training for
Excellence Programme
(STEP)
• CaliberLink
• Greater protection for
junior PMEs under
extended Employment
Act
8. Benefits over the next 3 years…
Key Budget Benefits
Government will
for Business She can get a fund 40% of wage
Owners 30%
corporate
increases given to
her Singaporean
Further Five- income tax employees earning a
year COE rebate of up gross monthly wage
• Wage Credit Scheme Renewal for to $30,000 of up to $4,000
(WCS) her catering
• Productivity and trucks to ease
cash flow
Innovation Credit (PIC)
Bonus She will get
dollar-for-dollar
• Corporate Income Tax matching cash
(CIT) Rebate bonus of up to
$15,000 if she
• Further Five-year COE The company will
spends more than
also get 30% road
Renewal for tax rebate on $5,000 to raise
Commercial Vehicles commercial productivity.
• Road Tax Rebate vehicles to relieve
business costs.
Ms Woo - Catering Business Owner
9. We are The Budget
continuing the We are also helps make
effort to making
The Budget is transform our a better
important
more than economy to Singapore,
goodies for
create better shifts in our
individuals and
businesses… jobs and allow social policies a better future
for a to foster a fair for all
better quality and more Singaporeans.
of life. inclusive
society.
10. Restructuring our Economy
For Companies Encouraging
• Increased Foreign • Productivity and companies to
Workers Levies Innovation Credit (PIC) share
productivity
• Reduced DRC • Technology Adoption gain with
Programme workers
• Increase in S Pass through Wage
Qualifying Salary For Workers Credit Scheme
• Support in Upgrading
and Retraining
The Government is committed to our ongoing effort to restructure our economy
for better jobs, to allow for a better quality of life.
11. Housing
•Ramping up of flat
supply
•Extension of the
Parenthood
Provisional Affordable home for
Housing Scheme to •Stabilise BTO everyone
married HDB first prices by de-
• First timer singles now
timers linking them
allowed to buy flats from
from the resale
HDB.
•Extend Parenthood market
Priority Scheme to • Further steps to help two
pregnant mothers vulnerable groups of
•Curb speculative second-timers by doubling
demand in our the second-timer quota for
property market 2-room and 3-room flats in
with cooling non-mature estates from
measures 15% to 30%.
The Government has put in place measures to help the majority of Singaporeans
fulfil their dreams of owning their own homes.
12. Transport
• Introduction of quality Shifting peak
incentive framework for
•Bus Service
greater predictability of
hour demand to
Enhancement
bus services ease congestion
Programme to be
completed by 2014 • Study to further
instead of 2016 • Greater priority for enhance incentive for
buses on the road with off-peak travel
•Tapping on private more mandatory bus
operators for more give-way at more bus • Working with
bus routes bays and extending bus employers to
lanes encourage flexi-work
•More new trains and arrangements
upgrading signalling • Higher reliability
system to boost standards for rail
frequency operators
The Government will spare no effort to address the public transport challenges
commuters face today.
13. Healthcare
• Major review of •4,100 new hospital • Enhancing standards
healthcare beds by 2020 for nursing home care
financing
framework. Gov to •Planning for four new •Better support for care
take on larger acute hospital beyond at home with subsidies
share of cost. 2020 for healthcare needs
and respite care
•Extended •More polyclinics by services
MediSave for use 2020
at National Dental •Better service delivery
Centre and •More training capacity with one-stop access
Polyclinics to develop manpower for all aged care
related issues under
Agency for Integrated
Care
The Government is committed to build an inclusive healthcare system that ensures
accessible, affordable and quality healthcare for all.