Singapore Budget 2011 Vs malaysia Budget 2011... Who will benefits?

Singapore 2011 Budget
Slew of Budget goodies unveiled

Note: This content was email by someone. It does make good sense out of it, therefore, I just post it here.

Singapore’s Minister for Finance, Mr Tharman Shanmuganathan, delivers the
Budget Speech for the Financial Year 2011. (AP Photo)

Singaporeans will receive a total of S$6.6 billion of benefits in the 2011
Singapore Budget announced by Finance Minister Tharman Shanmugaratnam on
Friday.

$3.2 billion Grow and Share Package: The average Singaporean household will
receive S$3,500 from this year’s Budget. This will come from the S$3.2
billion to be spent on the “Grow and Share Package” and S$3.4 billion in
longer-term Social Investments for households this year.

All adult Singaporeans will also receive Growth Dividends to share the
fruits of last year’s exceptional economic growth. The majority of
Singaporeans – 80% – will get $600 to $800 each.

CPF rate revision: The Government will raise the employer contribution rate
to CPF accounts by another 0.5 percentage points, from 15.5% to 16%,
which will restore the total contribution, rate to 36%. The additional 0.5%
will go into the Special Account.
The Government will also revise the CPF salary ceiling from $4,500 to
$5,000 per month to keep pace with income growth in recent years. This
will
align the salary ceiling back to the 80th percentile income, and help
middle-income Singaporeans.

Radio and TV licence fees removed permanently: The annual licence fee of
S$110 for televisions and S$27 for vehicle radios will be removed with
immediate effect. Those who have not paid this year’s fees will not have to
make the payment, while a refund will be given to those who have already
paid.

Mr Tharman said that’s because the fees are losing their relevance. He said
televisions are no longer limited to middle and higher-income groups,
with 99% of lower-income households owning them today.

Tax cuts: Singaporeans will receive a personal income tax rebate of 20% for
individual resident taxpayers for YA 2011. The rebate will be capped at
$2,000. Taxes will be reduced significantly for middle and upper-middle
income families. Marginal tax rates will be reduced for first S$120,000 of
chargeable income.

Levy increase for foreign workers: The Government will also introduce more
levy increases on foreign workers for all sectors this year. Most of the
additional measures will be phased in at six-monthly intervals, starting
only from 1 January 2012, and extending till 1 July 2013, one year beyond
the previous schedule.

S$10 billion home upgrading: $10 billion will be spent to upgrade homes and
rejuvenate estates over the next 10 years. This is a major effort to
preserve the value of HDB flats and will go towards the Home Improvement
Programme (HIP), Neighbourhood Renewal Programme (NRP) and Lift Upgrading
Programme (LUP), it will invest up to $55,000 per flat.

Low-income groups will also receive additional housing subsidies to better
afford their homes. The Government will set aside S$175 million each year
for the new Special CPF Housing Grant to help the bottom 50% Singapore
households own their homes.
For more details, refer to the speech summary below or read the full
transcript here.





WAKE UP!


I was in Singapore when their 2011 budget was tabled. There were two items
that impressed me most .... can't remember all :


Growth and share concept: Spore govt will give away cash amounting to
SGD800 to individuals and between SGD5000 - 2000 per household. The
estimated
per household should average SGD3000!

How can they afford this? Simple-- the Singapore government owns all public
utilities eg Electricity, water, MRT and investment arms like Tumasek and
sovereign funds. Profits from these organisations are distributed back to
their citizens, with the rich getting minimal and the lower income group
getting the larger share.

How does that compare with BN government? Cronies get richer by the days
and subsidies are cut. Yes, for political expediencies the PM gives away
RM200
to selected constituents for their votes!! Big joke!!


Employers CPF contributions are increased to ensure workers can have more
money when they retire.


What goodies do we have for our 2011 budget? Spend more on arms and patrol
crafts that costs RM 1 Billion EACH! Computers procured at RM 40,000
EACH, Costs overrun on almost all govt projects.

You are right (above message).....the following is the report of their 2011
Budget.

Makes me mad as hell.....with the imbeciles over here, both out & within
government!!!

.....AND YES, (as the Singaporeans may accuse me of).....I AM
JEALOUS!!!!.....and I AM SICK OF OUR OWN INCOMPETENCE & THE REFUSAL TO
ACKNOWLEDGE
THAT COMPETITION BASED ON MERIT IS STILL THE ROUTE TO DEVELOPMENT &
WEALTH.....in a Laissez Faire Capitalist Society.

What do you expect when we have a bunch of idiots running this country
compared to Singapore who have the brains and that is why Singapore is
developed
and successful. As long as this bunch of idiots are still around Malaysia
will continue to be where it started. They only know how to talk and bad
mouth about others and refuse to accept their mistakes. This is BN so come
the next election throw them out…….don’t worry if Pakatan can run this
country because when the Egyptians went to the street to throw their
President out they didn’t even know what their future lies for them and
whether
if there is a capable leader to replace their current President. Their
objective was to get rid of him and they stay focussed…….in Malaysia we
have capable
leaders in Pakatan to rule this country so there is nothing to be afraid of
voting them into power. We have nothing to lose but more to gain because
after 53 years – enough is enough…do it for the future generations. With BN
there is no future because these idiots only look after their own
future. Nothing for you and me. WAKE UP!