Analysis of Revenue and Expenditure(
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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
|
|
|
Last updated on 24 Mar 2016