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Revenue and Expenditure

Analysis of Revenue and Expenditure(pdf 1244kb, xls 91kb)



Revenue and Expenditure Estimates


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Overall Budget Balance


Revised FY2015
Estimated FY2016
Change over Revised FY2015
$billion
$billion
$billion
% change
OPERATING REVENUE
64.16
68.44
4.28
6.7
Corporate Income Tax
13.85
13.41
(0.43)
(3.1)
Personal Income Tax
9.13
10.13
1.00
10.9
Withholding Tax
1.31
1.33
0.02
1.4
Statutory Boards’ Contributions
0.43
1.88
1.45
333.0
Assets Taxes
4.39
4.40
0.00
0.1
Customs and Excise Taxes
2.56
2.91
0.35
13.6
Goods and Services Tax
10.33
10.62
0.29
2.8
Motor Vehicle Taxes
1.80
2.93
1.14
63.3
Vehicle Quota Premiums
5.41
5.65
0.25
4.6
Betting Taxes
2.71
2.72
0.01
0.4
Stamp Duty
2.73
2.52
(0.21)
(7.6)
Other Taxes
5.88
6.33
0.45
7.6
Other Fees and Charges
3.29
3.32
0.02
0.7
Others
0.35
0.30
(0.05)
(14.3)
Less:
TOTAL EXPENDITURE1
68.41
73.43
5.02
7.3
Operating Expenditure
48.73
54.43
5.70
11.7
Development Expenditure
19.68
19.00
(0.68)
(3.5)
PRIMARY SURPLUS / DEFICIT2
(4.25)
(4.99)
Less:
SPECIAL TRANSFERS3
10.54
6.27
(4.27)
(40.5)
Special Transfers Excluding Top-ups to Endowment and Trust Funds
4.54
2.67
GST Voucher Special Payment4
0.32
0.28
Service and Conservancy Charges Rebates
0.09
0.09
CPF Medisave Top-ups
0.10
0.10
Productivity and Innovation Credit
0.99
0.66
Productivity and Innovation Credit Bonus
0.20
0.02
Temporary Employment Credit
0.72
0.73
Wage Credit Scheme
1.91
0.79
Other Transfers5
0.23
0.01
BASIC SURPLUS / DEFICIT4
(8.78)
(7.66)
Top-ups to Endowment and Trust Funds
6.00
3.60
Special Employment Credit Fund
0.50
1.10
National Research Fund
1.00
1.50
National Productivity Fund
1.50
-
Changi Airport Development Fund
3.00
1.00
Add:
NET INVESTMENT RETURNS CONTRIBUTION
9.90
14.70
4.81
48.6
OVERALL BUDGET SURPLUS / DEFICIT5
(4.88)
3.45

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 2015 comprises the GST Voucher – Seniors’ Bonus. The GST Voucher Special Payment committed in Budget 2016 comprises the GST Voucher – Cash Special Payment.
  • 5 Consists of SME Cash Grant, Growth Dividends, GST Credits, Top-ups to Child Development Accounts and Post-Secondary Education Accounts, 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.
  • 5 As stated in the FY2016 Budget Statement, the estimated FY2016 Overall Budget Surplus is $3.4 billion when rounded to 1 decimal place. The difference is due to rounding.


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Last updated on 24 Mar 2016
 
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