SINGAPORE: Finance Minister Heng Swee Keat ended his 2018 Budget speech on a “prosperous” note with the handing out of a one-off SG Bonus to Singaporeans, but he also warned of coming tax hikes that are needed to finance the country’s greater spending in the next decade.
How will Singaporeans and Singapore businesses be affected by the measures Mr Heng announced on Monday (Feb 19)?
Here is Channel NewsAsia’s quick guide to the major Budget announcements:
Singapore — The Government will enhance the Proximity Housing Grant (PHG) to give more support to family members who want to live with or near each other, Finance Minister Heng Swee Keat announced in his Budget speech.
Singapore — Sales of new private homes rose 17.4 per cent in December 2017 compared to the same month a year ago, according to data released by the Urban Redevelopment Authority (URA) on Monday (Jan 15).
Excluding executive condominiums (ECs), developers sold 431 units last month, compared with 367 units in December 2016.