Here's something you might not know about the Presidential Election.
To get their election deposit back, a candidate must get more than one-eighth of the number of votes cast in an election in Singapore.
More than 12.5 per cent of votes
According to the Elections Department (ELD), a presidential candidate will forfeit their election deposit if they do not secure more than 12.5 per cent of the votes polled.
There are also circumstances where the election deposit will be returned, even if they do not garner more than 12.5 per cent of the votes polled.
This will happen if:
- the candidate is elected as president,
- the candidate withdraws their nomination,
- an election has wholly failed,
- the candidate is not nominated, or
- the candidate dies before the start of the poll.
Forfeited money goes to consolidated fund
Tan Kin Lian ran in the 2011 Presidential Election and came in last in the running.
He garnered 104,095 votes out of 2,274,773 votes cast (4.91 per cent) and lost his S$48,000 deposit that year.
The forfeited amount was paid to the consolidated fund, which is analogous to a bank account held by the government.
The revenues of Singapore are paid into this fund. Government expenditures are made from this fund.
S$40,500 deposit
The election deposit payable by candidates in the 2023 Presidential Election is S$40,500.
The amount has to be paid after the issuance of the Writ of Election and before noon on Nomination Day.
According to the law, a Presidential Election candidate's deposit has to be three times the election deposit that a General Election candidate pays.
Here is a full rundown on how the amount is calculated:
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Top images via gov.sg and Canva.