{"id":1480,"date":"2018-08-13T13:12:32","date_gmt":"2018-08-13T13:12:32","guid":{"rendered":"https:\/\/sg.everydayonsales.com\/news\/?p=1480"},"modified":"2018-08-13T13:12:32","modified_gmt":"2018-08-13T13:12:32","slug":"parents-with-kids-can-enjoy-these-child-benefits-from-government","status":"publish","type":"post","link":"https:\/\/sg.everydayonsales.com\/news\/1480\/parents-with-kids-can-enjoy-these-child-benefits-from-government\/","title":{"rendered":"Parents With Kids Can Enjoy These Child Benefits From Government"},"content":{"rendered":"<p>Government understands the hardship of bringing up and child especially on the costs of living<\/p>\n<h4>Here are 4 Child benefits that families in Singapore receive from the government.<\/h4>\n<p><img loading=\"lazy\" class=\"alignnone size-full wp-image-1490\" src=\"https:\/\/sg.everydayonsales.com\/news\/wp-content\/uploads\/2018\/08\/child-benefits.jpg\" alt=\"\" width=\"703\" height=\"469\" srcset=\"https:\/\/sg.everydayonsales.com\/news\/wp-content\/uploads\/2018\/08\/child-benefits.jpg 703w, https:\/\/sg.everydayonsales.com\/news\/wp-content\/uploads\/2018\/08\/child-benefits-300x200.jpg 300w, https:\/\/sg.everydayonsales.com\/news\/wp-content\/uploads\/2018\/08\/child-benefits-585x390.jpg 585w, https:\/\/sg.everydayonsales.com\/news\/wp-content\/uploads\/2018\/08\/child-benefits-263x175.jpg 263w\" sizes=\"(max-width: 703px) 100vw, 703px\" \/><\/p>\n<p>With a declining birth rate in Singapore, the government has been cracking its brains to reverse this trend and increase the birth rate in Singapore. Though monetary might not proven to be a big factor in getting a child but\u00a0monetary incentives will definitely help out to small families<\/p>\n<p><strong>1. Baby Bonus Gift Card<\/strong><\/p>\n<p><img loading=\"lazy\" class=\"alignnone wp-image-1491\" src=\"https:\/\/sg.everydayonsales.com\/news\/wp-content\/uploads\/2018\/08\/child-benefits-1.png\" alt=\"\" width=\"750\" height=\"777\" srcset=\"https:\/\/sg.everydayonsales.com\/news\/wp-content\/uploads\/2018\/08\/child-benefits-1.png 1132w, https:\/\/sg.everydayonsales.com\/news\/wp-content\/uploads\/2018\/08\/child-benefits-1-290x300.png 290w, https:\/\/sg.everydayonsales.com\/news\/wp-content\/uploads\/2018\/08\/child-benefits-1-768x795.png 768w, https:\/\/sg.everydayonsales.com\/news\/wp-content\/uploads\/2018\/08\/child-benefits-1-989x1024.png 989w, https:\/\/sg.everydayonsales.com\/news\/wp-content\/uploads\/2018\/08\/child-benefits-1-585x606.png 585w\" sizes=\"(max-width: 750px) 100vw, 750px\" \/><\/p>\n<p>In case you didn&#8217;t know, for each Singaporean child born, you will receive upfront cash of\u00a0<a href=\"https:\/\/www.heybaby.sg\/having-and-raising-children\/enhanced-baby-bonus\" target=\"_blank\" rel=\"noopener\">$6,000<\/a>\u00a0for each of your 1<sup>st<\/sup>\u00a0and 2<sup>nd<\/sup>\u00a0child, and subsequently\u00a0<a href=\"https:\/\/www.heybaby.sg\/having-and-raising-children\/enhanced-baby-bonus\" target=\"_blank\" rel=\"noopener\">$8,000<\/a>\u00a0for each of your 3<sup>rd<\/sup>\u00a0and 4<sup>th<\/sup>\u00a0child. This cash gift will not be paid in one shot but it will be disbursed over 3 installments in the first 12 months of the birth of your child.<\/p>\n<p><strong>2.\u00a0Baby Bonus Child Development Account<\/strong><\/p>\n<p>This is essentially a dollar-for-dollar matching savings scheme for your children where you can open with either OCBC or Standard Chartered Bank. Meaning with how much you put in, the government will be matching you savings to the account. These funds can be used for\u00a0prescribed withdrawal purposes\u00a0like childcare centre fees, medical expenses and approved healthcare items. You may do a search of the approved institutions\u00a0<a href=\"https:\/\/www.babybonus.msf.gov.sg\/ai-home\/xhtml\/layout\/ListOfAI.faces\" target=\"_blank\" rel=\"noopener\">here<\/a>.<\/p>\n<p>3.\u00a0<strong>Tax Incentives<\/strong><\/p>\n<p><img loading=\"lazy\" class=\"alignnone size-full wp-image-1492\" src=\"https:\/\/sg.everydayonsales.com\/news\/wp-content\/uploads\/2018\/08\/child-benefits-2.jpg\" alt=\"\" width=\"1000\" height=\"450\" srcset=\"https:\/\/sg.everydayonsales.com\/news\/wp-content\/uploads\/2018\/08\/child-benefits-2.jpg 1000w, https:\/\/sg.everydayonsales.com\/news\/wp-content\/uploads\/2018\/08\/child-benefits-2-300x135.jpg 300w, https:\/\/sg.everydayonsales.com\/news\/wp-content\/uploads\/2018\/08\/child-benefits-2-768x346.jpg 768w, https:\/\/sg.everydayonsales.com\/news\/wp-content\/uploads\/2018\/08\/child-benefits-2-585x263.jpg 585w\" sizes=\"(max-width: 1000px) 100vw, 1000px\" \/><\/p>\n<p>You can have you tax incentive if you have a child where you can claim for tax rebates from the government, under the\u00a0<a href=\"https:\/\/www.iras.gov.sg\/IRASHome\/Individuals\/Locals\/Working-Out-Your-Taxes\/Deductions-for-Individuals\/Parenthood-Tax-Rebate--PTR-\/\" target=\"_blank\" rel=\"noopener\">Parenthood tax rebate<\/a>\u00a0(\u201cPTR\u201d) and\u00a0<a href=\"https:\/\/www.iras.gov.sg\/IRASHome\/Individuals\/Locals\/Working-Out-Your-Taxes\/Deductions-for-Individuals\/Working-Mother-s-Child-Relief--WMCR-\/\" target=\"_blank\" rel=\"noopener\">working mother\u2019s child relief<\/a>\u00a0(\u201cWMCR\u201d). The PTR grants you a rebate of $5,000 for your 1<sup>st<\/sup>\u00a0child, $10,000 for your 2<sup>nd<\/sup>\u00a0child and $20,000 for your 3<sup>rd<\/sup>\u00a0and subsequent children. For WCWC, it a tax deduction on the income you&#8217;ve earned \u2013 15% for your 1<sup>st<\/sup>\u00a0child, 20% for the 2<sup>nd<\/sup>, and 25% per child thereafter, subject to a maximum of 100%<\/p>\n<p><strong>4.\u00a0Parenthood Leave<\/strong><\/p>\n<p>Last but not least would be the extra day off that you can earn from your child birth.\u00a0Besides\u00a0<a href=\"http:\/\/www.mom.gov.sg\/employment-practices\/leave-and-holidays\/Pages\/maternity-leave.aspx#eligibility\" target=\"_blank\" rel=\"noopener\">16 weeks of paid maternity leave<\/a>, fathers can also enjoy 1 week of\u00a0<a href=\"http:\/\/www.mom.gov.sg\/employment-practices\/leave-and-holidays\/Pages\/paternity-leave.aspx\" rel=\"nofollow noopener noreferrer\">paternity leave<\/a>\u00a0within 12 months of your baby\u2019s birth.<\/p>\n<p>It takes a lot of consideration before can decide on a child birth but certainly, it ain\u2019t bad to receive something from the government (almost equivalent to $50k++ when you add everything up) for child birth in Singapore.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Government understands the hardship of bringing up and child especially on the costs of&hellip;<\/p>\n","protected":false},"author":2,"featured_media":1490,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[21],"tags":[56],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v16.2 - 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