Revenue and Expenditure


Analysis of Revenue and Expenditure(pdf 1652kb, xls 81kb)


Revenue and Expenditure Estimates


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Overall Budget Balance


Revised FY2014
Estimated FY2015
Change over Revised FY2014
$billion
$billion
$billion
% change
OPERATING REVENUE
61.35
64.27
2.92
4.8
Corporate Income Tax
13.46
13.48
0.02
0.1
Personal Income Tax
8.94
8.91
(0.03)
(0.3)
Withholding Tax
1.12
1.14
0.03
2.3
Statutory Boards’ Contributions
0.52
0.82
0.31
59.5
Assets Taxes
4.41
4.41
0.00
0.1
Customs and Excise Tax
2.45
2.96
0.51
21.0
Goods and Services Tax
10.11
10.48
0.38
3.7
Motor Vehicle Taxes
1.81
2.12
0.31
17.0
Vehicle Quota Premiums
3.67
5.08
1.42
38.7
Betting Taxes
2.62
2.71
0.09
3.3
Stamp Duty
2.79
2.60
(0.20)
(7.0)
Other Taxes
6.14
6.11
(0.03)
(0.4)
Other Fees and Charges
3.01
3.11
0.11
3.5
Others
0.33
0.33
0.00
1.5
Less:
TOTAL EXPENDITURE1
57.20
68.22
11.02
19.3
Operating Expenditure
43.31
48.71
5.41
12.5
Development Expenditure
13.89
19.51
5.62
40.5
PRIMARY SURPLUS / DEFICIT2
4.15
(3.95)
Less:
SPECIAL TRANSFERS3
12.83
11.67
(1.16)
(9.1)
Special Transfers Excluding Top-ups to Endowment and Trust Funds
4.33
5.67
GST Voucher Special Payment4
0.28
0.32
Service and Conservancy Charges Rebates 
0.08
0.08
CPF Medisave Top-ups
0.12
0.10
Pioneer Generation Package5
0.30
-
Productivity and Innovation Credit
1.40
1.50
Productivity and Innovation Credit Bonus
0.67
0.45
Temporary Employment Credit
-
0.69
Wage Credit Scheme
1.46
2.31
Other Transfers6
0.02
0.22
BASIC SURPLUS / DEFICIT4
(0.18)
(9.62)
Top-ups to Endowment and Trust Funds
8.50
6.00
Top-ups to Endowment Funds8
0.50
-
Special Employment Credit Fund
-
0.50
National Research Fund
-
1.00
National Productivity Fund
-
1.50
Pioneer Generation Fund
8.00
-
Changi Airport Development Fund
-
3.00
Add:
NET INVESTMENT RETURNS CONTRIBUTION
8.55
8.94
0.39
4.6
OVERALL BUDGET SURPLUS / DEFICIT
(0.13)
(6.67)

Note: Due to rounding, figures may not add up. Negative figures are shown in parentheses.

  • 1 Please refer to the Analysis of Revenue and Expenditure for the breakdown of total expenditure by sectors.
  • 2 Surplus / Deficit before Special Transfers and Net Investment Returns Contribution.
  • 3 Special Transfers include Top-ups to Endowment and Trust Funds.
  • 4 The GST Voucher Special Payment committed in Budget 2014 comprises the GST Voucher – Cash: Seniors’ Bonus and Utilities-Save Rebates. The GST Voucher Special Payment committed in Budget 2015 comprises the GST Voucher: Seniors’ Bonus.
  • 5 Payouts for the Pioneer Generation Package from FY2015 onwards will be made from the Pioneer Generation Fund.
  • 6 Consists of SME Cash Grant, Growth Dividends, GST Credits, Top-ups to Child Development Accounts and Post-Secondary Education Accounts, public transport vouchers, SG50 Giving, and funding for Self-Help Groups and Voluntary Welfare Organisations.
  • 4 Surplus / Deficit before Top-ups to Endowment and Trust Funds, and Net Investment Returns Contribution.
  • 8 Consists of the Community Care Endowment Fund, Edusave Endowment Fund, ElderCare Fund, Lifelong Learning Endowment Fund and Medical Endowment Fund.
Last updated on 23 Feb 2015
 
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