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recent NEWS

KEY 2004 BUDGET INITIATIVES

For Individuals -- Help Singaporeans Contribute to the Financial Security of their Non-Working Dependents

z Annual tax relief cap for cash top-ups to own CPF Retirement Accounts and the Retirement Accounts of parents and grandparents increased from $6,000 to $7,000, with effect from YA 2005.

z Tax relief extended to individuals making cash top-ups to the CPF Retirement Accounts of their non-working spouses, starting from YA 2005.

For details, please refer to the official Budget 2004 website: www.budget2004.gov.sg.

MINISTRY OF FINANCE
27 FEBRUARY 2004

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Last modified: May 01, 2004