1. The National Taxi Association (NTA) is happy and delighted that the Government is giving full support to our recently launched “Drive and Save” (DAS) scheme—a tripartite-initiated voluntary Medisave co-contribution scheme for taxi drivers. Under the DAS scheme, taxi drivers would make a voluntary contribution of $15 per month to his or her Medisave Account (MA) and taxi companies would match this amount by making a voluntary co-contribution to the self-employed person’s (SEP) MA.
2. With the Government’s announcement to allow eligible companies that make voluntary contributions to enjoy tax deduction of up to $1,500 per SEP per year, it has reaffirmed and recognised the tripartite taxi industry’s concerted efforts to raise the healthcare savings of taxi drivers, who are SEPs. In addition, the exemption of SEPs from paying tax on these contributions would encourage more taxi drivers to participate in the DAS scheme.
3. “NTA is deeply appreciative of the strong support from the Government towards helping SEPs. This is a huge morale booster to our members as well as the taxi industry, as the DAS scheme is recognised by the Government. The Government’s support will certainly incentivise more of our members to contribute regularly to their MA and to save for their future healthcare needs,” said Mr Wee Boon Kim, President of NTA.
