Revenue & Expenditure

Analysis Of Revenue And Expenditure (pdf 1103kb, xls 99kb)

Revenue And Expenditure Estimates

View and download individual Revenue And Expenditure Estimates or complete set in zip format.

Overall Budget Balance

Swipe to view more >
Revised FY2018
Estimated FY2019
Change over Revised FY2018
$billion
$billion
$billion
% change
OPERATING REVENUE
73.67
74.90
1.23
1.7
Corporate Income Tax
16.14
16.72
0.59
3.6
Personal Income Tax
11.71
11.80
0.09
0.7
Withholding Tax
1.49
1.54
0.05
3.4
Statutory Boards' Contributions1
1.49
1.29
(0.20)
(13.2)
Assets Taxes
4.59
4.69
0.10
2.2
Customs and Excise Taxes
3.13
3.50
0.37
11.8
Goods and Services Tax
11.29
11.69
0.40
3.5
Motor Vehicle Taxes
2.88
3.09
0.21
7.4
Vehicle Quota Premiums
3.27
3.42
0.15
4.5
Betting Taxes
2.66
2.67
0.01
0.4
Stamp Duty
4.63
4.02
(0.60)
(13.1)
Other Taxes2
6.80
6.69
(0.11)
(1.6)
Fees and Charges (Excluding Vehicle Quota Premiums)
3.22
3.38
0.16
5.0
Others
0.37
0.38
0.01
3.3
 
 
 
 
Less:
TOTAL EXPENDITURE
78.99
80.25
1.26
1.6
Operating Expenditure
58.63
60.79
2.16
3.7
Development Expenditure
20.36
19.47
(0.89)
(4.4)
PRIMARY SURPLUS / DEFICIT1
(5.32)
(5.36)
Less:
SPECIAL TRANSFERS2
9.00
15.30
6.30
70.0
 
Special Transfers Excluding Top-ups to Endowment and Trust Funds
1.70
1.74
CPF MediSave Top-ups
0.09
0.06
CPF Top-Up
-
0.23
Post-Secondary Education Account Top-Up
-
0.08
GST Voucher Special Payment5
0.00
0.44
Productivity and Innovation Credit
0.18
0.05
Service & Conservancy Charges Rebate
0.13
0.13
SG Bonus
0.68
0.01
Wage Credit Scheme
0.61
0.65
 
Workfare Special Bonus6
-
0.08
Other Transfers7
0.01
0.00
BASIC SURPLUS / DEFICIT3
(7.02)
(7.09)
 
 
Top-ups to Endowment and Trust Funds
7.30
13.56
Community Silver Trust
0.30
-
GST Voucher Fund
2.00
-
Long-Term Care Support Fund
-
5.08
Merdeka Generation Fund
-
6.10
Public Transport Fund
-
0.01
Rail Infrastructure Fund
5.00
2.00
Special Employment Credit Fund
-
0.37
 
 
Add:
NET INVESTMENT RETURNS CONTRIBUTION
16.44
17.17
0.73
4.5
OVERALL BUDGET SURPLUS / DEFICIT
2.12
(3.48)

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

  • 1 From FY2019 onwards, Statutory Boards’ Contributions (SBC) from the Monetary Authority of Singapore (MAS) in a given financial year are calculated as the average of “Contribution to Consolidated Fund” (in lieu of corporate income tax) reported in MAS’ financial statements for the preceding three years. This is to reduce the volatility in MAS’ annual contributions. MAS’ SBC in FY2019 should thus comprise one-third of “Contribution to Consolidated Fund” reported in MAS’ financial statements for FY2016/17, FY2017/18 and FY2018/19. As MAS’ “Contribution to Consolidated Fund” for FY2016/17 and FY2017/18 have been paid in full in FY2017 and FY2018 respectively, MAS’ SBC in FY2019 comprises only one-third of MAS’ “Contribution to Consolidated Fund” for FY2018/19. MAS’ SBC in FY2020 will in turn comprise one-third of MAS’ “Contribution to Consolidated Fund” for FY2018/19 and FY2019/20, and MAS’ SBC in FY2021 will comprise one-third of MAS’ “Contribution to Consolidated Fund” for FY2018/19, FY2019/20 and FY2020/21.
  • 1 Other Taxes include the Foreign Worker Levy, Water Conservation Tax, Development Charge and Annual Tonnage Tax.
  • 1 Surplus / Deficit before Special Transfers (including Top-ups to Endowment and Trust Funds) and Net Investment Returns Contribution.
  • 2 Special Transfers including Top-ups to Endowment and Trust Funds.
  • 5 The GST Voucher Special Payment committed in Budget 2018 comprises the Additional GST Voucher – U-Save with payments starting in late FY2018. The GST Voucher Special Payment committed in Budget 2019 comprises the GST Voucher – Cash (Bicentennial Payment).
  • 4 The Workfare Special Bonus committed in Budget 2019 comprises the Workfare Bicentennial Bonus.
  • 3 Consists of Productivity and Innovation Credit Bonus, Rebate for School Buses, SME Cash Grant, Top-ups to Child Development Accounts, and funding for Self-Help Groups in FY2018. Consists of Productivity and Innovation Credit Bonus, Rebate for School Buses, SME Cash Grant, and Top-ups to Child Development Accounts in FY2019.
  • 3 Surplus / Deficit before Top-ups to Endowment and Trust Funds, and Net Investment Returns Contribution.