SINGAPORE: Eligible Singaporeans will receive between S$200 (US$151) and S$400 next month, as part of measures to help them cope with cost-of-living concerns.
More than 2.4 million Singaporean adults will receive this one-off cash payment under the Assurance Package, said the Ministry of Finance (MOF) on Tuesday (Aug 13).
It will be disbursed to all Singaporeans aged 21 and above in 2024, with an assessable income of not more than S$100,000 in the Year of Assessment (YA) 2023. They must also not own more than one property.
The payout, ranging from S$200 to S$400, will depend on the recipient's assessable income.
The package was first announced at Budget 2020 to help offset additional goods and services tax (GST) expenses. Payouts are disbursed over five years, from 2022 to 2026.
Deputy Prime Minister and Minister for Finance Lawrence Wong announced at Budget 2024 that the government would enhance the Assurance Package by a further S$1.9 billion to help with cost-of-living concerns.
Besides the cash payment in September, eligible Singaporeans will also receive further support, including U-Save rebates, Community Development Council (CDC) vouchers, service and conservancy charges (S&CC) rebates, additional cash payout and an Assurance Package Seniors' Bonus, in the coming months.
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More than 2.4 million Singaporean adults will receive this one-off cash payment under the Assurance Package, said the Ministry of Finance (MOF) on Tuesday (Aug 13).
It will be disbursed to all Singaporeans aged 21 and above in 2024, with an assessable income of not more than S$100,000 in the Year of Assessment (YA) 2023. They must also not own more than one property.
The payout, ranging from S$200 to S$400, will depend on the recipient's assessable income.
The package was first announced at Budget 2020 to help offset additional goods and services tax (GST) expenses. Payouts are disbursed over five years, from 2022 to 2026.
Deputy Prime Minister and Minister for Finance Lawrence Wong announced at Budget 2024 that the government would enhance the Assurance Package by a further S$1.9 billion to help with cost-of-living concerns.
Besides the cash payment in September, eligible Singaporeans will also receive further support, including U-Save rebates, Community Development Council (CDC) vouchers, service and conservancy charges (S&CC) rebates, additional cash payout and an Assurance Package Seniors' Bonus, in the coming months.
Continue reading...