Tuesday, February 21, 2006

Progress Package

The Workfare Bonus Scheme (WBS) is part of the Progress Package announced by the Government on 17 February 2006.
The WBS gives a cash bonus to older, low wage Singaporean workers to reward regular and productive work.

Who is eligible for the Workfare Bonus?

To get the Workfare Bonus, you must
Be a Singapore Citizen aged 40 and above
Be living in a property with an Annual Value of $10,000 or less
Be employed or self-employed and work for at least 6 continuous months in calendar years 2005 or 2006
Earn an average monthly income of $1,500 or less
How is my income and employment determined?


If you are:
An Employee
Your employment and income will be automatically verified using your CPF contribution records.
Under the CPF Act, employers are required to make CPF contributions on behalf of their employees if they earn more than $50 monthly.
You need not make any application or declare your income to qualify for WBS.


A Self-employed person
If you are required to furnish an Income Tax Return, you will be assessed based on your income tax declaration to IRAS. You need not make any application to qualify for WBS.

If you do not have CPF contributions and have not received an Income Tax Return by 1 March to furnish last year's income, you can apply for WBS by declaring your income using the WBS income declaration forms available at all CPF Service Centres, Community Development Councils (CDCs) and Community Centres/Clubs (CCs).



To receive your Workfare Bonus on 1 May of 2006 or 2007, Income Tax Returns or the WBS income declaration forms must be submitted by the following dates:

Income earned in year 2005 2006
Declare income by 1 April 2006 1 April 2007


Income declarations submitted after the above dates will result in
delayed payment of your bonus.
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::::well done:::: I haf no bonus from government at all!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

6 comments:

‡®e¥nĂ©‡ said...

haha i guess u'd rather be 40 yrs old right now and be eligible for the bonus?

dandan...™ said...

of coz lah..
aiyoz.. money u dunwan ah?
=P

dandan...™ said...

haha..ok!! I want my egg!!
Lolz

Mockingbird said...

You're still young :) Your turn shall come eventually :)

dandan...™ said...

hahaa!! today I found out I'm entitled lei!! so happy!!!!!!!!!!!!!!

sOnG said...

congras..finally get something