What is workfare bonus?

Question

What is workfare bonus?

Answer 1

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. The first portion of WBS was given out in May 2006 for work done in 2005. The Government will be giving out the second and final portion of WBS to eligible Singaporeans from 1 May 2007 for work done in 2006.

Income declaration for Workfare Bonus 2007 begins on 1 February 2007 for workers who do not have CPF contributions and Income Tax Returns. For the self-employed who are required to furnish an Income Tax Return, you will be assessed based on your income tax declaration to IRAS. For employees with CPF contributions, no application or declaration of income is necessary. The last day for income declaration is 30 June 2007.

(from mom website) the next WBS coming in 2008