Singapore Budget 2013 - Wage Credit Scheme (Update)
In my last post , I mentioned that I am eligible for the Wage Credit Scheme, but today when I looked at this article from IRAS, seems like I am not eligible. Basically the government will co-fund salary increment, but only for employee whose Gross Monthly Wage is S$4000 or below. So how do they derive Gross Monthly Wage? My monthly salary is S$3300, and I usually get 3 months bonus a year, and I have a S$500 allowance for each year. Total basic wage = 3300 x 12 = 39600 Bonus = 3300 x 3 = 9900 Allowance = 500 Total = 39600 + 9900 + 500 = 50000 Total divided by Number of Months Worked = 50000 / 12 = 4166.66 Meh. I was happy for a while...