Here’s the Singapore government’s revenue and expenses from 2014 to 2019.
Figures are from the official Ministry of Finance’s (MOF) budget website.
An estimated S$117b of total receipts was collected in 2019.
Growth in 2019 from the year before was strong at 21%, reversing the annual decline of 11% in 2018.
The growth was driven mainly by an increase in investment and interest income, which was 25b in 2019 compared to 11b in 2018.
Focusing on the property line items, estimated 2019 revenues are (in SGD billion):
Property tax: 4.7b
Sale of land: 16.9b
Property tax revenue is made up of private properties (4.3b), statutory boards (346m) and other properties (40k).
Rental revenue is made up of residential properties (897m), local and overseas quarters (995k), premises for business (161m), school premises (6.2m) and other premises (329m).
Revenue from sales of land has averaged S$17b per annum between 2013 to 2019. Land sales revenue has been a large contributor to the government’s total receipts at 14%.
The largest contributors to the government’s total receipts are tax revenue (67b), made up mainly of income tax (31b) and corporate, personal and withholding tax (30b).
I’m making the excel sheet available for anyone who wants to dig into the numbers.
Please like our Facebook page and subscribe to our mailing list!
You might also be interested in these articles