Election Deposits Can Also Be Paid Through Electronic Funds Transfer Our electricity and water prices may be on the rise, but Singaporeans now have a new reason to rejoice. The government has proposed lowering the election deposit by a whopping 7%, from $14,500 to $13,500! Independent candidates like Han Hui Hui and Samir Salim Neji now have less to worry about – $1,000 to be exact – come the next election. Source To put things into perspective, that’s like having it GST-free! Why so ex in the first place? The new election deposit is based on a Member of Parliament (MP)’s fixed monthly allowance, rounded to the nearest $500. Since the current fixed monthly allowance is $13,750, the election deposit has been “rounded down to just $13,500”, revealed The Election Department in a factsheet today (10 Sep). Previously in the 2015 General Election, the deposit was based on 8% of an MP’s annual allowance, which was $14,500. The election deposit is a mandatory fee for all candidates contesting a General Election. Candidates who receive more than 12.5% of their constituency’s vote will have their deposits refunded while those who receive less than 12.5% will have their deposit forfeited. Go big or […]
6 years ago
