Dear readers, Singapore Budget 2023 has been delivered.
And I believe Singapore Budget 2023 means different things to different Singaporeans, depending on the ways that they are impacted by the different measures from the budget.
I recently watched a show “Ask the Finance Minister” where DPM and Finance Minister, Lawrence Wong answered panelist’s enquiries on the budget and I find it insightful.
You can watch the video below, or click the link here if video below not loading readily.
As for myself, the more noteworthy measure from Singapore Budget 2023 has been on the raising of the income tax, which to me, means less readily disposable income once the income ceiling from $6,000 starts to be raised in stages.
But it also means more CPF savings that will earn at least 2.5% interest per annum risk-free on a continual basis. I will treat the additional monies into CPF once income ceiling account is raised as a savings and investments.