Singapore Budget 2002
 The
Singapore Government has acted decisively to restructure the economy,
and create more jobs for Singaporeans in its 2002 Budget. Deputy
Prime Minister and Finance Minister Lee Hsien Loong also did not
forget families in need, giving out some S$1.2 billion of offsets
and rebates.
At the very heart of what Mr Lee called a "Budget
for a Different World" are:
- Cash shares of up to S$1,200 per person.
- Offsetting the increase in GST to 5% from 3%
- Five years of rental and S&C rebates
- A cut to motor vehicle taxes
- Lower income taxes across the board.
- A cut in corporate taxes.
Mr Lee also announced that the Government now expects
the economy to do better and grow by 2-4%, up from 1-3%.
NEWS
COVERAGE
19/5/2002
• Offset
package will cover GST increase for at least five years: DPM Lee
MORE
>>
BUDGET
SPEECH/MEDIA RELEASES
Read or download the full text of DPM Lee's speech,
view the Budget 2002 highlights, or get the latest press statements.
•
Tax rate with effect from Year
of Assessment 2003
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>>
ANALYSIS
How will the Budget changes affect
Singapore and Singaporeans? Read Andersen's analysis of Budget
2002, including commentary on the effects of the new measures.
•
Singapore
Budget 2002 Synopsis [
473KB]
BUDGET
Q&A- ASK OUR EXPERT
Our tax expert from Arthur Andersen
was on hand to answer your questions on the Budget. Read
the answers >>
BUDGET
2002 FORUM
GST offset package, income tax cuts, Economic Restructuring
Shares - sound off on the measures announced in Budget 2002 at our
forum.
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