Articles

Parents , Parenting Tips & Lobangs

4 Things Every Parent Should Know About The Budget 2019

Article Title

4 Things Every Parent Should Know About The Budget 2019

4 Things Every Parent Should Know About The Budget 2019 

 

 

The month of February is usually a month filled with heady buzz. No, we don’t just mean Valentine’s Day but it’s also usually when the national Budget is announced. Delivered by Finance Minister Heng Swee Keat across two hours, it is easy to get lost in the technical details of the Budget 2019 and so… we’ve distilled what you need to know into a handy guide for all parents! 

 

“What’s in it for me?

What subsidies do I get?

What are my income tax rebates?”

 

 

1) Parents with school going children rejoice

 

Additional support for families with school going children will come in the form of a $150 top-up to Edusave accounts for all students at primary and secondary levels.

 

For teenagers between the ages of 17 and 20, they would get up to $500 top-up in their Post-Secondary Education Accounts (PSEA).

 

 

Source: https://www.straitstimes.com/singapore/singapore-budget-2019-11-billion-bicentennial-bonus-to-be-shared-with-singaporeans

 

 

 

2) You heard it right… rebates!!! 

 

Budget 2019 marks another year of Service and Conservancy Charges (S&CC) rebate to HDB householdsRoughly 930,000 households will receivebetween 1.5 months to 3.5 months in rebates, costing the government a cool $132million to roll out.

 

Gamxia horgahmen

 

 

 

3) Something for the parents too

 

To commemorate the bicentennial year, a $1.1 billion Bicentennial Bonus was set aside to share with Singaporeans. Before you go jumping with joy and trying to divide $1.1 billion to see how much you’ll get… pretty much all tax residents will get a rebate of up to $200 off their personal income tax. Mai complain la… not bad already.

 

 

 

4) More changes to come 

 

The Budget statement was only the start of a month long budget debate in Parliament. 

 

Labour MP Desmond Choo spoke out for sandwhichedworking parents – asking what more can be done to support them through initiatives such as flexi-work arrangements and family care leave. 

 

He also brought up that the current subsidies for childcare might not be sufficient to alleviate the financial burden on parents. We’re holding out hope that this means potentially more subsides to come! 

 

 

           

 

Source: https://www.facebook.com/DesmondChooPeyChing/?tn-str=k*F

 

 

 

Mummy Contributor,

Mummy J Chua