Price range 2023 – a love letter to Singaporeans? 3 takeaways in your private funds
Earlier this week, on 14th February, Deputy Prime Minister and Minister for Finance Mr Lawrence Wong delivered Singapore’s FY2023 Price range Assertion – protecting the Authorities’s technique for the post-pandemic world and addressing considerations for companies, employees, and households. With the theme “Shifting Ahead in a New Period”, Wong introduced that the Authorities has plans to spend round S$104.2 billion within the coming yr, targeted on rising the financial system whereas concentrating on quick cost-of-living pressures. Listed below are Syfe’s high picks from the Price range 2023, and what traders ought to look out for:
1. CPF month-to-month wage ceiling to be raised
The Central Provident Fund (CPF) month-to-month wage ceiling shall be raised to $8,000 by 2026, up from the present $6,000 ceiling cap that can be utilized to drawn CPF contributions. This alteration shall be applied progressively in 4 steps, in order that employers and staff can alter extra comfortably. The final change to…
