Showing posts with label Parenthood Tax Rebate. Show all posts
Showing posts with label Parenthood Tax Rebate. Show all posts

Wednesday, April 2, 2014

Gift pack for babies born next year to celebrate S’pore’s 50th birthday

Gift pack for babies born next year to celebrate S’pore’s 50th birthday

BY JOY FANG

PUBLISHED: APRIL 2, 6:20 AM(PAGE 1 OF 1) - PAGINATE

SINGAPORE — With ideas from the public pouring in on ways to celebrate the 50th anniversary of the Republic’s independence, it was announced yesterday that all Singaporean babies born next year, including those born overseas, will receive a gift pack from the Government that could consist of practical and commemorative items.

The National Population and Talent Division (NPTD), which will fund the Jubilee Baby Gift, is calling for suggestions on the items to be included in the gift pack. It has ruled out giving cash handouts, as parents of newborns already receive monetary incentives under the existing Marriage and Parenthood Package.

There could be about five to 10 items and the idea is to make the gift pack “a meaningful, significant (and) tangible keepsake with heritage value”, the NPTD said. Among the gift ideas thrown up at a focus group discussion yesterday were a chain with a key, baby shoes and bibs, while Minister in the Prime Minister’s Office Grace Fu suggested a sarong with a national flag motif, which she felt is practical — parents can use it to carry their child or during breastfeeding — and signifies a parental bond.

Separately, the two-month call for celebration ideas from the public — which ended on March 23 — has garnered a wide range of suggestions including organising a local music festival, reviving the Kallang Roar at the new National Stadium and holding nationwide quizzes on the Republic’s history.

A spokesman for the Singapore50 (SG50) Programme Office Secretariat said it is looking through all the ideas submitted via the various platforms to see how they can be incorporated into the celebration plans under the respective SG50 committees.

To date, the secretariat has also received almost 60 formal applications to tap the SG50 Celebration Fund, which was set up to seek and support meaningful ground-up initiatives. The applications ranged from charity and volunteerism initiatives to music and visual arts platforms. Applications for the fund are open until Aug 31 next year.

Speaking at the focus group discussion, Ms Fu described the gift pack as the nation’s little birthday surprise. “As we celebrate Singapore’s past and honour the contributions of our pioneer generation, we also set our sights on the future ... our Golden Jubilee babies symbolise our hopes and aspirations for the Singapore of tomorrow,” she said.

The public can submit ideas through the Jubilee Baby Gift’s microsite (http://www.nptd.gov.sg/jubilee) or at feedback booths islandwide until April 15. The first two booths will be set up at Jurong Point on April 5 and 6, and at VivoCity on April 12 and 13.

Singaporeans can also register their interest to participate in focus groups on what to include in the gift pack by emailing outreach@reach.gov.sg.

Between April 18 and May 15, the suggestions will be collated and curated in consultation with a five-member advisory panel comprising people-sector and community representatives. The panel, which will advise on the suitability of the items and the design, will be chaired by Ms Anita Fam, who serves on the council of Families for Life.

During this period, the public can vote on the shortlisted items.

Responding to TODAY’s queries, an NPTD spokesperson said: “We envision the gift to consist of a small package of items that newborns in 2015 could use in their early years. It would also have commemorative elements and serve as a token from our current generation to the next.”

She added: “As parents of Singaporean newborns already receive a cash gift under the existing Marriage and Parenthood Package, there is no intention to have a cash gift as one of the items.”

The budget for the gift pack will be finalised after the public engagement efforts are completed.

There were 32,000 citizen births last year and the NPTD expects the figure to remain about the same next year, although it is hoping for more.

“I don’t think parents would have children just for the gifts, but I think if we can all celebrate family and newborns, we hope it would encourage more to think about having their own family,” said Ms Fu.

(PAGE 1 OF 1) - PAGINATE


- wong chee tat :)

Friday, February 28, 2014

1.23m taxpayers need not file taxes

1.23m taxpayers need not file taxes

POSTED: 28 Feb 2014 16:43

SINGAPORE: More taxpayers, including 15,000 who will be filing for the first time, will benefit from the no-filing service this year, the Inland Revenue Authority of Singapore (IRAS) said.

The tax filing season begins on Saturday, but for 1.23 million, or 60 per cent of all taxpayers, it will be a non-event.

The IRAS said the no-filing service has grown significantly over the years to benefit 27 times as many taxpayers this year, as compared to when it was first launched in 2007.

Taxpayers who have been informed of their eligibility for the service this year will not need to file a tax return, unless they have additional income to declare or changes to make to their personal reliefs.

- CNA/xq

- wong chee tat :)

Monday, January 21, 2013

More than S$8.3b disbursed in tax rebates to encourage procreation

More than S$8.3b disbursed in tax rebates to encourage procreation
By Imelda Saad | Posted: 20 January 2013 1802 hrs
     
SINGAPORE: The government last year gave out more than S$8.3 billion in tax rebates and reliefs aimed at encouraging procreation in the Year of Assessment 2012.

The Inland Revenue Authority of Singapore also told Channel NewsAsia that more than 850,000 working mums and dads enjoyed such tax breaks in 2012.

Thirty-six-year-old assistant marketing manager Lum Sook Fong collected nearly S$27,000 in child tax reliefs last year.

Together with other rebates, the working mother of two ended up not paying any taxes to the government at all.

Madam Lum said: "I know there should be some kind of relief but exactly what amount, I didn't know until I get the statement, so I was kind of surprised because the amount is quite substantial."

Currently, there are three kinds of rebate and reliefs aimed at supporting working mums with children.

They are: Parenthood Tax Rebate of up to S$20,000 per child; the Qualifying/Handicapped Child Reliefs; and the Working Mother Child Relief.

Both the Parenthood Tax Rebate and the Qualifying/Handicapped Child Relief can be claimed by both mums and dads.

Sums worked out by tax consultant Ernst & Young show that working mums earning about S$94,500 to S$351,000 a year don't have to pay any taxes after taking into account the Parenthood Tax Rebate, the Working Mother Child Relief, and other tax breaks like the Foreign Maid Levy Relief.

This applies to a Singaporean tax payer aged 55 and below, married, with three children.

There are various monetary incentives to support families, including cash gifts like the Baby Bonus.

Those Channel NewsAsia spoke to say while such incentives can ease the financial burden of bringing up baby, money isn't everything.

It may encourage those who already have children to have more but it may not change the minds of couples who don't want any children in the first place.

Joni Ong, president of advocacy group I Love Children said: "I agree that money is useful but money isn't everything. I believe if you love children and you want to have children to complete your family, no matter how much money is there or not there, you will proceed to have the babies anyway."

Experts said what is needed is a supportive environment at home and at work, among other things.

"For my case, I would think it would be useful as well if the Baby Bonus is higher because what we have, could only tied us for the first few years. After that, I have to start paying cash for their childcare," said Madam Lum.

She added: "Another part is also the family support like maybe having grandparents to be there to take care of the kids. As a working mum, I would say that the environment is very important and also the work-life balance that we have."

- CNA/fa

- wong chee tat :)