Budget 2008
I am not sure if it was my letter to the PM that made His Excellency realise something about the growing generation of youngsters or was it the bellyaching of Singaporeans.
You see, poor Sunshin3 here belongs to the rare handful of “teenagers”, who are working full time and paying taxes. However, due to a legislative ruling that payouts were only given to adults who have officially turned 21, we never received a single cent for our contribution.
It isn’t exactly their fault either because they would operate under the assumption that you would normally be in school at 20 and they have factored in post-secondary payouts in the form of your edusave account which you should have been eligible to receive PROVIDED you were still in school. That’s the normal situation and ideally, what all of us would have liked to achieve.
Of course the facts were that they weren’t for our cases.
So when the GST credits were announced, they tweaked it slightly to allow those who were going to be 21 in the year of payout to get the same benefit which Dingo subsequently enjoyed. And now with this year’s budget 2008, they have extended it to include the growth dividends as well which I will FINALLY enjoy.
MWHAHAHAHHA!
I am happy but disapprove somewhat of their dividend policy based on the valuation of your flat when in fact, they should include the number of kids a couple may have. And if you are a DINK, I don’t see why you should get such a good payout cos you have no other commitments except the pursuit of your comfortable, material acquisitions. Just imagine the case of a couple having a total of S$1,200 in payout as opposed with another couple having the same amount but with 3 kids.
Spreading a little too thinly, don’t you think?
The sadness of reality is that Singaporeans are asset rich but not cash rich. Thus the reason why they have all these talk of annuities as well because they are right. Unless you are single for life, it is never possible for you to have enough money to last for retirement without investing in bonds and surefire guaranteed stock returns.
And how i know?
Cos i use calculator lor.
