Budget 2024 debate: Louis Chua on revenue measures, structural improvements and retirement adequacy
In Parliament on Monday (Feb 26), MP Louis Chua gave suggestions on possible revenue measures through wealth taxes and gambling duties, the latter of which could also serve as a deterrent function. He also highlighted the need for structural improvements to personal income taxes and corporate income taxes to better support individuals and businesses while keeping the tax system progressive and up to date. Mr Chua also expressed hope that the Government will consider providing greater tax relief to small- and medium-sized enterprises. Turning to retirement adequacy, he raised concerns over the closure of the CPF Special Account and its impact on seniors. He also wanted to know when the Government will be ready to roll out the Lifetime Retirement Investment Scheme.
In Parliament on Monday (Feb 26), MP Louis Chua gave suggestions on possible revenue measures through wealth taxes and gambling duties, the latter of which could also serve as a deterrent function. He also highlighted the need for structural improvements to personal income taxes and corporate income taxes to better support individuals and businesses while keeping the tax system progressive and up to date. Mr Chua also expressed hope that the Government will consider providing greater tax relief to small- and medium-sized enterprises. Turning to retirement adequacy, he raised concerns over the closure of the CPF Special Account and its impact on seniors. He also wanted to know when the Government will be ready to roll out the Lifetime Retirement Investment Scheme.
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