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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