Singapore Budget 2008

Key Personal Tax Relief’s at a glance

• Estate duty abolished for locals as well as foreigners. Singapore to become world's new wealth accumulation centre.
• One-time income tax rebate of 20% (capped at $2000) for all resident taxpayers for Year of Assessment 2008.
• Government to top up the Medisave accounts of all Singaporeans aged 51 and above by up to $450 this year.
• All Singaporeans to receive a Growth Dividend from government ranging from $100 to $450 depending on their income level.
• Full-time students pursuing higher education to receive scholarships ranging from $800 to $1600 per annum.
• Government to subsidize part-time studies of Singaporeans for up-to 40%.
• The subsidies will be given for programmes at the National University of Singapore, Nanyang Technological University, SIM University and Singapore Management University.