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Revenue and Expenditure

Analysis of Revenue and Expenditure(pdf 756kb, xls 81kb)


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)
 
  

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 Special Payment committed in Budget 2013 consists of a cash component, Utilities-Save Rebates and CPF Medisave Top-ups. The Special Payment introduced in Budget 2014 comprises the GST Voucher – Cash: Seniors’ Bonus and Utilities-Save Rebates.
  • 5 Consists of Growth Dividends, GST Credits, Child Development Credits, Top-ups to Post-Secondary Education Accounts, public transport vouchers and funds set aside for Self-Help Groups and Voluntary Welfare Organisations.
  • 4 Surplus / Deficit before Top-ups to Endowment and Trust Funds and Net Investment Returns Contribution.
  • 7 Consists of the Community Care Endowment Fund, Edusave Endowment Fund, ElderCare Fund, Lifelong Learning Endowment Fund and Medical Endowment Fund.
  • 8 The Cultural Donation Matching Fund has been re-named as the Cultural Matching Fund.
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Last updated on 21 Feb 2014
 
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