INCOME TAX (Amount paid by top earners and number who were exempted)

Mr John De Payva asked the Minister for Finance (a) what was the amount of income tax paid by (i) the top earners mentioned by the Senior Minister in his talk to unionists on 19th July 1996, and (ii) other wage earners; and (b) how many wage earners did not have to pay income tax in 1994.

The Minister for Finance (Dr Richard Hu Tsu Tau): Sir, the total amount of tax paid by the 229 top earners mentioned in Senior Minister's speech is $116.3 million. The amount of tax paid by the rest of the 424,052 individuals amount to $2,030.4 million. These amounts are arrived at after allowing one-off rebates of 10% and the GST rebates of $650.

The number of taxpayers who did not have to pay income tax for the Year of Assessment 1995, ie, based on income accrued in calendar year 1994, is 888,175.

Mr John De Payva (Nominated Member): Sir, would the Minister say how much tax did the 229 top earners pay as a proportion of total individual income tax collected?

Dr Richard Hu Tsu Tau: The 229 persons accounted for 0.054% of total taxpayers and they paid 5.4% of total tax paid in Singapore.