Budget 2023: Lawrence Wong announces bigger Baby Bonus, hike in buyer's stamp duty for higher-value properties
Singapore Deputy Prime Minister and Finance Minister Lawrence Wong on Tuesday (Feb 14) announced a slew of measures to help Singaporeans to cope with the rising cost of living in his Budget 2023 statement. There will be a one-off Cost-of-Living Special Payment for adult Singaporeans this year. The Baby Bonus cash gift will be increased and families purchasing a resale flat for the first time will get more in housing grants. The buyer's stamp duty will go up for higher-value residential properties. Luxury cars will also see higher additional registration fees. The CPF monthly salary ceiling will be raised from S$6,000 to S$8,000 by 2026.
Singapore Deputy Prime Minister and Finance Minister Lawrence Wong on Tuesday (Feb 14) announced a slew of measures to help Singaporeans to cope with the rising cost of living in his Budget 2023 statement. There will be a one-off Cost-of-Living Special Payment for adult Singaporeans this year. The Baby Bonus cash gift will be increased and families purchasing a resale flat for the first time will get more in housing grants. The buyer's stamp duty will go up for higher-value residential properties. Luxury cars will also see higher additional registration fees. The CPF monthly salary ceiling will be raised from S$6,000 to S$8,000 by 2026.
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