My first 2011 passive income comes from the Singapore Government as announced by the Finance Minister, Tharman Shanmugaratnam on 18 Februay 2011. These are in the form of:
- Growth Dividends: All adult Singaporean ie 21 years and above will get between $100 and $800 to be paid out in May.
- Employers will pay 0.5 percentage point more, making it 15% from September. This goes into Special Account.
- Medisave top-ups of between $200 and $700.
- Edusave top up of $130 for students in primary and secondary schools
- Tax breaks: All tax payers get a one-off personal income tax rebate of 20% this year, capped at $2,000. From next year, personal income tax rates have been reduced for the first $120,000 of chargeable income.
- U-save rebates of up to $360 this year. Households living in one to four room HDB flats will also get an extra month of S&CC rebates.
- Refund of $110 from TV & Radio Licence fees.
