Enhanced Tax Benefits 

• Qualifying Child Relief/Handicapped Child Relief (QCR/HCR): For parents with qualifying children (existing or newborn), the QCR will increase from $2000 to $4,000 per child, and the HCR from $3,500 to $5,500 per child.
• Working Mother’s Child Relief (WMCR): Working mothers with qualifying Singaporean children (existing or newborn) will enjoy higher WMCR. Currently, the WMCR for the first, second, third and fourth child are 5%, 15%, 20% and 25% of the mother's earned income respectively. The WMCR will now be 15% and 20% of the mother's earned income for the first and second child respectively, and 25% per child for the third and subsequent child. The WMCR will be subject to an overall cap of 100% of the mother’s earned income for all her qualifying children.
• Combined QCR/HCR and WMCR: The total amount of QCR/HCR and WMCR claimable will be capped at $50,000 per child, twice the current cap of $25,000. Parents will be able to claim the enhanced QCR/HCR and WMCR from Year of Assessment 2009.
• Parenthood Tax Rebate (PTR): Currently, PTR is only available for the second to fourth qualifying Singaporean child in a family. Going forward, PTR will be extended to the first child and beyond the fourth child. The PTR will be $5,000 for the first child, $10,000 for the second, and $20,000 for each subsequent child. Both the father and the mother may use the PTR to offsett heir income tax payable. Parents of children born or legally adopted on or after 1 Jan 2008 will be able to claim the enhanced PTR from Year of Assessment 2009.

Enhanced Baby Bonus

• Cash gift: The cash gift for the first and second child will be raised from $3,000 to $4,000. The cash gift for the third and fourth child remains at the  current level of $6,000.

• CDA: The government matching contribution will be extended to the first child at up to $6,000. The matching contribution for the CDA for the second, third and fourth child will remain at the current levels. For the fifth child and beyond, a dollar-for-dollar matching for the CDA of up to $18,000 per child will be introduced.

And many others incentives. Read HERE , HERE and HERE