Sunday, January 11, 2009

Wish List for Budget 2009

Coming 22 Jan 2009, the Singapore government is set to deliver Budget for year 2009. This date is a month earlier than usual in view of current difficult economic conditions.

Budget 2009 is expected to help SMEs and companies to ride through the storm to save jobs. Some analysts predict tax discounts for corporates so employers can send employees for training. Cash handouts, if distributed, should help lower income families most. However, the Singapore government has cautioned Singaporeans not to be over reliant on cash handouts.

I do have my own wish list for this Budget 2009.

I wish individual income tax can enjoy the same 20% discount just like last year.

I wish cash handouts to be distributed, with most consideration on lower income families, and at the same time not neglecting middle income families.

I wish public transport fares to be lowered or at least freeze for the next 2 years.

I wish full time tertiary students to pay the same rates as JCs students.

I wish CPF contribution by employer not to be lowered. If lowered, this will put more stress on house owners who are still paying house loans.

I wish the current S$8,000 ceiling to be eligible for a HDB flat to be raised. This ceiling has been unchanged for donkey years, not tracking inflation rates. Raising it will allow more middle income families to be able to purchase a flat.

I bet many share similar ideas like me.

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