Friday, February 25, 2011

Opening Child Development Account

Managed to find information from the Speech on CDA account. We need to ensure that we receive letter from MCYS by June 2011. Til then, no CDA account for my son...


Extracted from Singapore Budget Speech 2011,
ANNEX B-1: CHILD DEVELOPMENT CREDIT
  • The payout for the Child Development Credit will start in July 2011.
  • MCYS will send letters to parents of eligible children to notify them by June 2011.

Quanta of Child Development Credit:
Annual Value of Home in 2010* Child Development Credit
Up to $13,000 $400

More than $13,000 $300


*As at 31 Dec 2010. HDB flats and some private residences have annual values of less than $13,000.

More details at http://www.singaporebudget.gov.sg/budget_2011/budget_speech.html

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