28 Sep '17, 2am

NS Excellence Award voucher given to top-performing NSmen in ICT is taxable

NS Excellence Award voucher given to top-performing NSmen in ICT is taxable

Having to pay taxes for receiving the NS Excellence Award after doing a good job during ICT is tougher. That is the brutal reality that one NSman recently realised. Advertisement What is the NS Excellence Award? In April 2016, the government announced a new incentive scheme for NSmen as part of the annual Budget. Called the NS Excellence Award, it aimed to enhance and replace the old Family Recognition Voucher scheme. Under this new scheme, vouchers would be awarded to eligible servicemen, such as Letter of Commendation and National Day Award recipients, and NSmen of the year. Other award recipients, such as the top 10 percent of ICT NSmen, would be awarded an increased voucher. Then-Senior Minister of State for Defence, Ong Ye Kung, said in Parliament on April 7: “These forms of recognition are important to let them know that their sacrifices are deeply appreciated, and f...

Full article: https://mothership.sg/2017/09/ns-excellence-award-voucher...

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