Budget 2024–Changes to Personal Reliefs /CPF

10/04/2024

Budget 2024 – Changes to Personal Reliefs / CPF

  • Enhancements to Workfare Income Supplement Scheme (WIS)

          Qualifying income cap and payouts for the WIS will be raised from 2025 to ensure continued support for lower-wage workers.

  • Increase in Income Threshold for Tax Relief

          The income threshold for tax relief for cash top-ups to CPF accounts of spouse/siblings will be increased from S$4,000 to S$8,000 in Year of Assessment 2025. 

 

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