Singapore Budget 2020: Summary of Government Initiatives - Revision history

Dayana Rizal: /* General background */

2020-02-21T10:17:01Z

General background

← Older revision		Revision as of 18:17, 21 February 2020
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	==General background==		==General background==
	[[File:Heng Swee Keat Budget Speech.jpg\|thumb\|''Heng Swee Keat delivering the Budget 2020 speech on 18 February 2020. Photo from [https://www.~~google~~.com/~~url?sa=i&url=https%3A%2F%2Fwww.channelnewsasia.com%2Fnews%2Fparliament%2Fvideos%2Ffebruary%2Fin~~-full-heng-swee-keat-delivers-budget-2020-speech-video-12447166~~&psig=AOvVaw2qtth2DYNBSUwAu71AeFWC&ust=1582275151208000&source=images&cd=v~~ Channel News Asia].'']]		[[File:Heng Swee Keat Budget Speech.jpg\|thumb\|''Heng Swee Keat delivering the Budget 2020 speech on 18 February 2020. Photo from [https://www.channelnewsasia.com/news/parliament/videos/february/in-full-heng-swee-keat-delivers-budget-2020-speech-video-12447166 Channel News Asia].'']]

	===Weak economic growth===		===Weak economic growth===

Dayana Rizal: /* For Singaporeans */

2020-02-21T03:48:52Z

For Singaporeans

← Older revision		Revision as of 11:48, 21 February 2020
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	====Payouts====		====Payouts====
	With this package, Singaporeans are to receive the following <u>payouts</u> ~~this year~~.		With this package, Singaporeans are to receive the following <u>payouts</u> in 2020.
	{\| class="wikitable"		{\| class="wikitable"
	!Beneficiary		!Beneficiary

Dayana Rizal: /* COVID-19: Stabilisation & Support Package (S$4 Billion) */

2020-02-21T03:47:28Z

COVID-19: Stabilisation & Support Package (S$4 Billion)

← Older revision		Revision as of 11:47, 21 February 2020
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	==COVID-19: Stabilisation & Support Package (S$4 Billion)==		==COVID-19: Stabilisation & Support Package (S$4 Billion)==
	[[File:Singapore Airlines Airbus A380 woah!.jpg\|thumb\|''In February 2020, Singapore Airlines announced that it plans to cancel flights globally until May 2020. The aviation sector is one of the beneficiaries of this package.'']]
	The government has allocated S$4 billion out of the S$106 billion budget to help sectors who have been financially hit by the virus.<ref>Lam, Fiona. "[https://www.businesstimes.com.sg/government-economy/singapore-budget-2020/budget-2020-more-help-for-5-sectors-directly-hit-by-covid Budget 2020: More help for 5 sectors directly hit by Covid-19]". ''The Business Times''. February 18, 2020. Accessed on 20 February 2020.</ref> The sectors that are predicted to be impacted by COVID-19 outbreak are listed below.		The government has allocated S$4 billion out of the S$106 billion budget to help sectors who have been financially hit by the virus.<ref>Lam, Fiona. "[https://www.businesstimes.com.sg/government-economy/singapore-budget-2020/budget-2020-more-help-for-5-sectors-directly-hit-by-covid Budget 2020: More help for 5 sectors directly hit by Covid-19]". ''The Business Times''. February 18, 2020. Accessed on 20 February 2020.</ref> The sectors that are predicted to be impacted by COVID-19 outbreak are listed below.

	===Aviation===		===Aviation===
			[[File:Singapore Airlines Airbus A380 woah!.jpg\|thumb\|''In February 2020, Singapore Airlines announced that it plans to cancel flights globally until May 2020. The aviation sector is one of the beneficiaries of this package.'']]
	Changi Airport will receive a 15% property tax rebate. Additionally, there will be rebates for aircraft parking and landing charges.<ref>Tang See Kit. "[https://www.channelnewsasia.com/news/singapore/budget-2020-s-4-billion-support-package-for-workers-firms-amid-12446082 Budget 2020: S$4 billion support package for workers, firms amid COVID-19 outbreak]". ''Channel News Asia.'' February 18, 2020. Accessed on 20 February 2020.</ref> Shops and cargo agents at Changi Airport will also receive rental rebates.<ref>Tang See Kit. "[https://www.channelnewsasia.com/news/singapore/budget-2020-s-4-billion-support-package-for-workers-firms-amid-12446082 Budget 2020: S$4 billion support package for workers, firms amid COVID-19 outbreak]". ''Channel News Asia.'' February 18, 2020. Accessed on 20 February 2020.</ref>		Changi Airport will receive a 15% property tax rebate. Additionally, there will be rebates for aircraft parking and landing charges.<ref>Tang See Kit. "[https://www.channelnewsasia.com/news/singapore/budget-2020-s-4-billion-support-package-for-workers-firms-amid-12446082 Budget 2020: S$4 billion support package for workers, firms amid COVID-19 outbreak]". ''Channel News Asia.'' February 18, 2020. Accessed on 20 February 2020.</ref> Shops and cargo agents at Changi Airport will also receive rental rebates.<ref>Tang See Kit. "[https://www.channelnewsasia.com/news/singapore/budget-2020-s-4-billion-support-package-for-workers-firms-amid-12446082 Budget 2020: S$4 billion support package for workers, firms amid COVID-19 outbreak]". ''Channel News Asia.'' February 18, 2020. Accessed on 20 February 2020.</ref>

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	===Care & Support Package (S$1.6 Billion)===		===Care & Support Package (S$1.6 Billion)===

	==== Payouts ====		====Payouts====
	With this package, Singaporeans are to receive the following <u>payouts</u> this year.		With this package, Singaporeans are to receive the following <u>payouts</u> this year.
	{\| class="wikitable"		{\| class="wikitable"
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	\|}		\|}

	==== Housing Rebates ====		====Housing Rebates====
	[[File:Singapore HDB.jpg\|thumb\|''Households living in HDB housing can get rebates under the Care & Support Package. Photo from [https://www.asiaone.com/lifestyle/property-what-happens-hdb-flat-after-owner-passes AsiaOne].'']]		[[File:Singapore HDB.jpg\|thumb\|''Households living in HDB housing can get rebates under the Care & Support Package. Photo from [https://www.asiaone.com/lifestyle/property-what-happens-hdb-flat-after-owner-passes AsiaOne].'']]
	As part of the Care & Support Package, residents living in HDB public housing are also to receive <u>Service and Conservancy Charge Rebates</u>.<ref>Cheng, Kenneth. “[https://www.todayonline.com/singapore/budget-2020-s100-s300-cash-sporeans-aged-21-and-older-ride-out-economic-slowdown-covid-19 Budget 2020: S$100-S$300 cash for S’poreans aged 21 and older to ride out economic slowdown, Covid-19 crisis]”. ''Today.'' February 18, 2020. Accessed on 20 February 2020. </ref> The following is a breakdown of the rebates given.		As part of the Care & Support Package, residents living in HDB public housing are also to receive <u>Service and Conservancy Charge Rebates</u>.<ref>Cheng, Kenneth. “[https://www.todayonline.com/singapore/budget-2020-s100-s300-cash-sporeans-aged-21-and-older-ride-out-economic-slowdown-covid-19 Budget 2020: S$100-S$300 cash for S’poreans aged 21 and older to ride out economic slowdown, Covid-19 crisis]”. ''Today.'' February 18, 2020. Accessed on 20 February 2020. </ref> The following is a breakdown of the rebates given.
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	\|}		\|}

	==== Additional Initiatives ====		====Additional Initiatives====
	The following initiatives will only apply to <u>eligible households and individuals</u>:		The following initiatives will only apply to <u>eligible households and individuals</u>:

Dayana Rizal: /* For Singaporeans */

2020-02-21T03:47:03Z

For Singaporeans

← Older revision		Revision as of 11:47, 21 February 2020
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	==For Singaporeans==		==For Singaporeans==
	===Care & Support Package (S$1.6 Billion)===		===Care & Support Package (S$1.6 Billion)===

			==== Payouts ====
	With this package, Singaporeans are to receive the following <u>payouts</u> this year.		With this package, Singaporeans are to receive the following <u>payouts</u> this year.
	{\| class="wikitable"		{\| class="wikitable"
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	\|<ref>“[https://www.singaporebudget.gov.sg/budget_2020/budget-measures/care-and-support-package Care And Support Package]”. ''Singapore Budget.'' Accessed on 20 February 2020. </ref>		\|<ref>“[https://www.singaporebudget.gov.sg/budget_2020/budget-measures/care-and-support-package Care And Support Package]”. ''Singapore Budget.'' Accessed on 20 February 2020. </ref>
	\|}		\|}

			==== Housing Rebates ====
	[[File:Singapore HDB.jpg\|thumb\|''Households living in HDB housing can get rebates under the Care & Support Package. Photo from [https://www.asiaone.com/lifestyle/property-what-happens-hdb-flat-after-owner-passes AsiaOne].'']]		[[File:Singapore HDB.jpg\|thumb\|''Households living in HDB housing can get rebates under the Care & Support Package. Photo from [https://www.asiaone.com/lifestyle/property-what-happens-hdb-flat-after-owner-passes AsiaOne].'']]
	As part of the Care & Support Package, residents living in HDB public housing are also to receive <u>Service and Conservancy Charge Rebates</u>.<ref>Cheng, Kenneth. “[https://www.todayonline.com/singapore/budget-2020-s100-s300-cash-sporeans-aged-21-and-older-ride-out-economic-slowdown-covid-19 Budget 2020: S$100-S$300 cash for S’poreans aged 21 and older to ride out economic slowdown, Covid-19 crisis]”. ''Today.'' February 18, 2020. Accessed on 20 February 2020. </ref> The following is a breakdown of the rebates given.		As part of the Care & Support Package, residents living in HDB public housing are also to receive <u>Service and Conservancy Charge Rebates</u>.<ref>Cheng, Kenneth. “[https://www.todayonline.com/singapore/budget-2020-s100-s300-cash-sporeans-aged-21-and-older-ride-out-economic-slowdown-covid-19 Budget 2020: S$100-S$300 cash for S’poreans aged 21 and older to ride out economic slowdown, Covid-19 crisis]”. ''Today.'' February 18, 2020. Accessed on 20 February 2020. </ref> The following is a breakdown of the rebates given.
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	\|<u>1.5 months</u> worth of rebates		\|<u>1.5 months</u> worth of rebates
	\|}		\|}

			==== Additional Initiatives ====
	The following initiatives will only apply to <u>eligible households and individuals</u>:		The following initiatives will only apply to <u>eligible households and individuals</u>:

Dayana Rizal: /* For companies & employees */

2020-02-21T03:40:05Z

For companies & employees

← Older revision		Revision as of 11:40, 21 February 2020
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	==For companies & employees==		==For companies & employees==
	The government has set aside S$8.3 billion to kickstart the transformation of enterprises and businesses in Singapore.<ref>Tan, Sue-Ann. "[https://www.straitstimes.com/singapore/singapore-budget-2020-83-billion-to-be-allocated-to-enable-economic-transformation-and Singapore Budget 2020: $8.3b to be allocated for economic transformation and growth]". ''The Straits Times''. February 18, 2020. Accessed on 20 February 2020.</ref> Certain new schemes such as the Jobs Support Scheme (JSS) are also meant to protect the interests of employees. The newly introduced initiatives ~~in Budget 2020~~ target a range of beneficiaries - from Small Medium Enterprises (SMEs) to Trade Associations and Chambers (TACs).		The government has set aside S$8.3 billion to kickstart the transformation of enterprises and businesses in Singapore.<ref>Tan, Sue-Ann. "[https://www.straitstimes.com/singapore/singapore-budget-2020-83-billion-to-be-allocated-to-enable-economic-transformation-and Singapore Budget 2020: $8.3b to be allocated for economic transformation and growth]". ''The Straits Times''. February 18, 2020. Accessed on 20 February 2020.</ref> Certain new schemes such as the Jobs Support Scheme (JSS) are also meant to protect the interests of employees. The newly introduced initiatives target a range of beneficiaries - from Small Medium Enterprises (SMEs) to Trade Associations and Chambers (TACs).

	===New initiatives===		===New initiatives===

Dayana Rizal: /* Care & Support Package (S$1.6 Billion) */

2020-02-21T03:37:48Z

Care & Support Package (S$1.6 Billion)

← Older revision		Revision as of 11:37, 21 February 2020
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	\|<ref>Yee, Jonathan. “[https://mustsharenews.com/care-support-package/ S’poreans To Receive One-Off Payouts Up To $300 Under Budget 2020 Care & Support Package]”. ''MustShare News.'' February 18, 2020. Accessed on 20 February 2020. </ref>		\|<ref>Yee, Jonathan. “[https://mustsharenews.com/care-support-package/ S’poreans To Receive One-Off Payouts Up To $300 Under Budget 2020 Care & Support Package]”. ''MustShare News.'' February 18, 2020. Accessed on 20 February 2020. </ref>
	\|-		\|-
	\|Low-wage workers and self-employed individuals ~~aged~~ 35 years old & above		\|Low-wage workers and self-employed individuals (35 years old & above)
	\| + Min. $100 (Workfare Special Payment)		\| + Min. $100 (Workfare Special Payment)
	\|<ref>“[https://www.singaporebudget.gov.sg/budget_2020/budget-measures/care-and-support-package Care And Support Package]”. ''Singapore Budget.'' Accessed on 20 February 2020. </ref>		\|<ref>“[https://www.singaporebudget.gov.sg/budget_2020/budget-measures/care-and-support-package Care And Support Package]”. ''Singapore Budget.'' Accessed on 20 February 2020. </ref>

Dayana Rizal: /* COVID-19: Stabilisation & Support Package (S$4 Billion) */

2020-02-21T03:33:08Z

COVID-19: Stabilisation & Support Package (S$4 Billion)

← Older revision		Revision as of 11:33, 21 February 2020
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	The government has allocated S$4 billion out of the S$106 billion budget to help sectors who have been financially hit by the virus.<ref>Lam, Fiona. "[https://www.businesstimes.com.sg/government-economy/singapore-budget-2020/budget-2020-more-help-for-5-sectors-directly-hit-by-covid Budget 2020: More help for 5 sectors directly hit by Covid-19]". ''The Business Times''. February 18, 2020. Accessed on 20 February 2020.</ref> The sectors that are predicted to be impacted by COVID-19 outbreak are listed below.		The government has allocated S$4 billion out of the S$106 billion budget to help sectors who have been financially hit by the virus.<ref>Lam, Fiona. "[https://www.businesstimes.com.sg/government-economy/singapore-budget-2020/budget-2020-more-help-for-5-sectors-directly-hit-by-covid Budget 2020: More help for 5 sectors directly hit by Covid-19]". ''The Business Times''. February 18, 2020. Accessed on 20 February 2020.</ref> The sectors that are predicted to be impacted by COVID-19 outbreak are listed below.

	===~~Point to point services~~===		===Aviation===
	~~The government has given S$45 million to fund the Point-to-point Package~~. ~~Taxi~~ and ~~private-car operators will fund the remaining S$32 million~~.<ref>~~Ang Hwee Min~~. "[https://www.channelnewsasia.com/news/singapore/~~coronavirus~~-~~covid~~-19-package-~~help~~-~~taxi~~-~~private~~-~~hire~~-~~drivers-12431086~~ S$~~77 million~~ package ~~to help taxi~~, ~~private-hire drivers affected by~~ COVID-19 outbreak]". ''Channel News Asia.'' February 13, 2020. Accessed on 20 February 2020.</ref> ~~This package is meant to help taxi~~ and ~~private hire drivers who have reported lesser passengers daily due to the COVID-19 outbreak. Eligible drivers~~ will ~~be given S$20 per car, per day for three months to defray the lost income caused by lesser passengers~~.<ref>~~Ang Hwee Min~~. "[https://www.channelnewsasia.com/news/singapore/~~coronavirus~~-~~covid~~-19-package-~~help~~-~~taxi~~-~~private~~-~~hire~~-~~drivers-12431086~~ S$~~77 million~~ package ~~to help taxi~~, ~~private-hire drivers affected by~~ COVID-19 outbreak]". ''Channel News Asia.'' February 13, 2020. Accessed on 20 February 2020.</ref>		Changi Airport will receive a 15% property tax rebate. Additionally, there will be rebates for aircraft parking and landing charges.<ref>Tang See Kit. "[https://www.channelnewsasia.com/news/singapore/budget-2020-s-4-billion-support-package-for-workers-firms-amid-12446082 Budget 2020: S$4 billion support package for workers, firms amid COVID-19 outbreak]". ''Channel News Asia.'' February 18, 2020. Accessed on 20 February 2020.</ref> Shops and cargo agents at Changi Airport will also receive rental rebates.<ref>Tang See Kit. "[https://www.channelnewsasia.com/news/singapore/budget-2020-s-4-billion-support-package-for-workers-firms-amid-12446082 Budget 2020: S$4 billion support package for workers, firms amid COVID-19 outbreak]". ''Channel News Asia.'' February 18, 2020. Accessed on 20 February 2020.</ref>

	===Tourism===		===Tourism===
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	\|10%		\|10%
	\|}		\|}

			===Point to point services===
			The government has given S$45 million to fund the Point-to-point Package. Taxi and private-car operators will fund the remaining S$32 million.<ref>Ang Hwee Min. "[https://www.channelnewsasia.com/news/singapore/coronavirus-covid-19-package-help-taxi-private-hire-drivers-12431086 S$77 million package to help taxi, private-hire drivers affected by COVID-19 outbreak]". ''Channel News Asia.'' February 13, 2020. Accessed on 20 February 2020.</ref> This package is meant to help taxi and private hire drivers who have reported lesser passengers daily due to the COVID-19 outbreak. Eligible drivers will be given S$20 per car, per day for three months to defray the lost income caused by lesser passengers.<ref>Ang Hwee Min. "[https://www.channelnewsasia.com/news/singapore/coronavirus-covid-19-package-help-taxi-private-hire-drivers-12431086 S$77 million package to help taxi, private-hire drivers affected by COVID-19 outbreak]". ''Channel News Asia.'' February 13, 2020. Accessed on 20 February 2020.</ref>

	===Food services & Retail===		===Food services & Retail===
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	\|}		\|}
	Eligible commercial properties will also receive a 15% property tax rebate.<ref>Lam, Fiona. "[https://www.businesstimes.com.sg/government-economy/singapore-budget-2020/budget-2020-more-help-for-5-sectors-directly-hit-by-covid Budget 2020: More help for 5 sectors directly hit by Covid-19]". ''The Business Times''. February 18, 2020. Accessed on 20 February 2020.</ref>		Eligible commercial properties will also receive a 15% property tax rebate.<ref>Lam, Fiona. "[https://www.businesstimes.com.sg/government-economy/singapore-budget-2020/budget-2020-more-help-for-5-sectors-directly-hit-by-covid Budget 2020: More help for 5 sectors directly hit by Covid-19]". ''The Business Times''. February 18, 2020. Accessed on 20 February 2020.</ref>

	~~===Aviation===~~
	Changi Airport will receive a 15% property tax rebate. Additionally, there will be rebates for aircraft parking and landing charges.<ref>Tang See Kit. "[https://www.channelnewsasia.com/news/singapore/budget-2020-s-4-billion-support-package-for-workers-firms-amid-12446082 Budget 2020: S$4 billion support package for workers, firms amid COVID-19 outbreak]". ''Channel News Asia.'' February 18, 2020. Accessed on 20 February 2020.</ref> Shops and cargo agents at Changi Airport will also receive rental rebates.<ref>Tang See Kit. "[https://www.channelnewsasia.com/news/singapore/budget-2020-s-4-billion-support-package-for-workers-firms-amid-12446082 Budget 2020: S$4 billion support package for workers, firms amid COVID-19 outbreak]". ''Channel News Asia.'' February 18, 2020. Accessed on 20 February 2020.</ref>

	==For Singaporeans==		==For Singaporeans==

Dayana Rizal: /* Coastal & Flood Protection Fund (S$5 Billion) */

2020-02-21T02:25:27Z

Coastal & Flood Protection Fund (S$5 Billion)

← Older revision		Revision as of 10:25, 21 February 2020
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	===Coastal & Flood Protection Fund (S$5 Billion)===		===Coastal & Flood Protection Fund (S$5 Billion)===
	[[File:Coastal and Protection Fund 2020.jpg\|thumb\|''Photo from [https://sg.news.yahoo.com/budget-2020-5-billion-fund-for-singapore-to-combat-rising-sea-levels-091706238.html Yahoo! News].'']]		[[File:Coastal and Protection Fund 2020.jpg\|thumb\|''The Coastal and Flood Protection Fund is one of the initiatives targeting climate change in Singapore. Photo from [https://sg.news.yahoo.com/budget-2020-5-billion-fund-for-singapore-to-combat-rising-sea-levels-091706238.html Yahoo! News].'']]
	The Singapore government has set aside S$5 billion out of the S$106 billion budget for this fund.<ref>"[https://www.straitstimes.com/multimedia/graphics/2020/02/singapore-budget-revenue-and-spending-breakdown-2020/index.html?shell Responding to challenges in a new decade]". ''The Straits Times''. February 18, 2020. Accessed on 20 February 2020.</ref> This initiative is meant to keep Singapore safe from the threat of rising sea levels.<ref>Tan, Audrey. "[https://www.straitstimes.com/singapore/singapore-budget-2020-new-coastal-and-flood-protection-fund-to-protect-singapore-against Singapore Budget 2020: New coastal and flood protection fund to protect Singapore against rising sea levels]".''The Straits Times''. February 18, 2020. Accessed on 20 February 2020.</ref>		The Singapore government has set aside S$5 billion out of the S$106 billion budget for this fund.<ref>"[https://www.straitstimes.com/multimedia/graphics/2020/02/singapore-budget-revenue-and-spending-breakdown-2020/index.html?shell Responding to challenges in a new decade]". ''The Straits Times''. February 18, 2020. Accessed on 20 February 2020.</ref> This initiative is meant to keep Singapore safe from the threat of rising sea levels.<ref>Tan, Audrey. "[https://www.straitstimes.com/singapore/singapore-budget-2020-new-coastal-and-flood-protection-fund-to-protect-singapore-against Singapore Budget 2020: New coastal and flood protection fund to protect Singapore against rising sea levels]".''The Straits Times''. February 18, 2020. Accessed on 20 February 2020.</ref>

Dayana Rizal: /* For companies & employees */

2020-02-21T02:23:54Z

For companies & employees

← Older revision		Revision as of 10:23, 21 February 2020
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	The following schemes are also to be enhanced.		The following schemes are also to be enhanced.

	*'''Silver Housing Bonus and Lease Buyback Scheme''': ~~Individual s~~ under this scheme will be provided with risk-free interest rates on their savings.<ref>“[https://sbr.com.sg/economy/news/singapore-budget-2020-full-coverage-cpf-housing-grant-be-enhanced-more-jobs-older-worke Singapore Budget 2020 Full Coverage: COVID-hit sectors to get $4b and GST hike moved to 2025]”. ''Singapore Business Review.'' February 18, 2020. Accessed on 20 February 2020.</ref>		*'''Silver Housing Bonus and Lease Buyback Scheme''': Individuals under this scheme will be provided with risk-free interest rates on their savings.<ref>“[https://sbr.com.sg/economy/news/singapore-budget-2020-full-coverage-cpf-housing-grant-be-enhanced-more-jobs-older-worke Singapore Budget 2020 Full Coverage: COVID-hit sectors to get $4b and GST hike moved to 2025]”. ''Singapore Business Review.'' February 18, 2020. Accessed on 20 February 2020.</ref>
	*'''CPF Housing Grant''': Eligible first- time flat buyers can receive up to S$160,000 in housing grants.<ref>Yang, Calvin. “[https://www.straitstimes.com/singapore/singapore-budget-2020-more-help-to-ensure-every-singaporean-student-can-reach-potential Singapore Budget 2020: More help to ensure every Singaporean student can reach potential, regardless of family income]”. ''The Straits Times.'' February 18, 2020. Accessed on 20 February 2020. </ref>		*'''CPF Housing Grant''': Eligible first- time flat buyers can receive up to S$160,000 in housing grants.<ref>Yang, Calvin. “[https://www.straitstimes.com/singapore/singapore-budget-2020-more-help-to-ensure-every-singaporean-student-can-reach-potential Singapore Budget 2020: More help to ensure every Singaporean student can reach potential, regardless of family income]”. ''The Straits Times.'' February 18, 2020. Accessed on 20 February 2020. </ref>
	*'''Central Provident Fund (CPF) Basic Retirement Sum''': The next two cohorts of retirees will enjoy an increased Basic Retirement Sum from S$90,500 (2020) to S$93,000 (2021) and S$96,000 (2022).<ref>Lam, Fiona. “[https://www.businesstimes.com.sg/government-economy/singapore-budget-2020/budget-2020-basic-retirement-sum-set-at-s93000-for-those Budget 2020: Basic Retirement Sum set at S$93,000 for those turning 55 next year]”. ''The Business Times.'' February 18, 2020. Accessed on 20 February 2020. </ref>		*'''Central Provident Fund (CPF) Basic Retirement Sum''': The next two cohorts of retirees will enjoy an increased Basic Retirement Sum from S$90,500 (2020) to S$93,000 (2021) and S$96,000 (2022).<ref>Lam, Fiona. “[https://www.businesstimes.com.sg/government-economy/singapore-budget-2020/budget-2020-basic-retirement-sum-set-at-s93000-for-those Budget 2020: Basic Retirement Sum set at S$93,000 for those turning 55 next year]”. ''The Business Times.'' February 18, 2020. Accessed on 20 February 2020. </ref>

Dayana Rizal at 02:22, 21 February 2020

2020-02-21T02:22:18Z

← Older revision		Revision as of 10:22, 21 February 2020
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	===Tourism===		===Tourism===
	[[File:Marina Bay Sands Singapore (MBS).jpg\|thumb\|''Tourist venues like the Marina Bay Sands (pictured) will receive varying degrees of property tax rebates.'']]		[[File:Marina Bay Sands Singapore (MBS).jpg\|thumb\|''Tourist venues like the Marina Bay Sands (pictured) will receive varying degrees of property tax rebates.'']]
	Companies in the tourism industry will qualify for a Temporary Bridging Loan Programme (starting March 2020). These firms are allowed to borrow up to S$1 million (with a 5% annual interest rate) if need be.<ref>Tang See Kit. "[https://www.channelnewsasia.com/news/singapore/budget-2020-s-4-billion-support-package-for-workers-firms-amid-12446082 Budget 2020: S$4 billion support package for workers, firms amid COVID-19 outbreak]". ''Channel News Asia.'' February 18, 2020. Accessed on 20 February 2020.</ref> The ~~government has also given the~~ following venues property tax rebates in light of the COVID-19 situation.		Companies in the tourism industry will qualify for a Temporary Bridging Loan Programme (starting March 2020). These firms are allowed to borrow up to S$1 million (with a 5% annual interest rate) if need be.<ref>Tang See Kit. "[https://www.channelnewsasia.com/news/singapore/budget-2020-s-4-billion-support-package-for-workers-firms-amid-12446082 Budget 2020: S$4 billion support package for workers, firms amid COVID-19 outbreak]". ''Channel News Asia.'' February 18, 2020. Accessed on 20 February 2020.</ref> The following venues qualify for property tax rebates in light of the COVID-19 situation.
	{\| class="wikitable"		{\| class="wikitable"
	!Venues		!Venues