Analysis of Revenue and Expenditure(
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Revenue and Expenditure Estimates
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Overall Budget Balance
|
Revised FY2013
|
Estimated FY2014
|
Change over
Revised FY2013
|
|
$billion
|
$billion
|
$billion
|
% change
|
OPERATING REVENUE |
57.15
|
59.51
|
2.37
|
4.1
|
Corporate Income Tax |
12.55
|
13.03
|
0.49
|
3.9
|
Personal Income Tax |
7.65
|
8.79
|
1.14
|
14.9
|
Withholding Tax |
1.13
|
1.19
|
0.06
|
5.7
|
Statutory Boards’ Contributions |
0.53
|
0.49
|
(0.04)
|
(7.4)
|
Assets Taxes |
4.23
|
4.35
|
0.12
|
2.7
|
Customs and Excise Taxes |
2.20
|
2.61
|
0.41
|
18.9
|
Goods and Services Tax |
9.52
|
10.11
|
0.58
|
6.1
|
Motor Vehicle Taxes |
1.69
|
1.36
|
(0.33)
|
(19.5)
|
Vehicle Quota Premiums |
2.76
|
2.95
|
0.20
|
7.1
|
Betting Taxes |
2.34
|
2.58
|
0.25
|
10.6
|
Stamp Duty |
4.05
|
2.84
|
(1.22)
|
(30.0)
|
Other Taxes |
5.26
|
5.82
|
0.55
|
10.5
|
Other Fees and Charges |
2.93
|
3.07
|
0.14
|
4.9
|
Others |
0.32
|
0.32
|
0.00
|
1.5
|
|
|
|
|
|
Less: |
|
|
|
|
TOTAL EXPENDITURE1 |
52.34
|
56.66
|
4.32
|
8.3
|
Operating Expenditure |
40.43
|
42.88
|
2.45
|
6.1
|
Development Expenditure |
11.91
|
13.78
|
1.87
|
15.7
|
|
|
|
|
|
PRIMARY SURPLUS / DEFICIT2 |
4.80
|
2.85
|
|
|
Less: |
|
|
|
|
|
|
|
|
|
SPECIAL TRANSFERS3 |
8.82
|
12.11
|
3.29
|
37.4
|
Special Transfers Excluding Top-ups to Endowment and Trust Funds |
3.22
|
3.61
|
|
|
GST Voucher Special Payment4 |
0.68
|
0.28
|
|
|
Utilities-Save Rebates and Service and Conservancy Charges Rebates |
0.08
|
0.08
|
|
|
CPF Medisave Top-ups |
0.31
|
0.12
|
|
|
Pioneer Generation Package |
-
|
0.26
|
|
|
Productivity and Innovation Credit |
0.65
|
0.74
|
|
|
Productivity and Innovation Credit Bonus |
0.64
|
0.32
|
|
|
Wage Credit Scheme |
0.82
|
1.76
|
|
|
SME Cash Grant |
0.04
|
0.03
|
|
|
Other Transfers5 |
0.01
|
0.02
|
|
|
|
|
|
|
|
|
BASIC SURPLUS / DEFICIT4 |
1.58
|
(0.76)
|
|
|
|
|
|
|
|
|
Top-ups to Endowment and Trust Funds |
5.59
|
8.50
|
|
|
Top-ups to Endowment Funds7 |
2.32
|
0.50
|
|
|
GST Voucher Fund |
3.00
|
-
|
|
|
Cultural Matching Fund8 |
0.20
|
-
|
|
|
National Youth Fund |
0.07
|
-
|
|
|
Pioneer Generation Fund |
-
|
8.00
|
|
|
|
|
|
|
|
Add: |
|
|
|
|
NET INVESTMENT RETURNS CONTRIBUTION |
7.94
|
8.10
|
0.16
|
2.0
|
OVERALL BUDGET SURPLUS / DEFICIT |
3.92
|
(1.16)
|
|
|
Last updated on 21 Feb 2014