Eligible Singaporeans To Receive Up To S$200 Cash Payout As Part Of Cost-Of-Living Support Package
Eligible Singaporeans will receive up to S$200 in cash payouts in Dec 2023 as part of the Government’s latest support measures.
About 2.5 million adult Singaporeans are expected to benefit from the one-off cash disbursement, which will come under the new Cost-of-Living (COL) support package that amounts to S$1.1 billion.
All Singaporean households will also receive S$200 in Community Development Council (CDC) vouchers, which can be spent at participating heartland merchants and hawkers, as well as supermarkets.
Adult Singaporeans to receive up to S$200 cash payout in Dec 2023
The COL package, aimed at helping Singaporeans cope with inflation, was announced by Finance Minister Lawrence Wong on Thursday (28 Sep).
Part of the S$1.1 billion package will be channelled into enhancing the Assurance Package (AP), allowing some 2.5 million adult Singaporeans to receive a one-off cash payout of up to S$200 in Dec 2023.
Singaporeans who meet the following requirements will be eligible for the maximum S$200 payout:
- Aged 21 and above in 2024
- Own up to one property
- Assessable income of S$34,000 or less for the Year of Assessment 2022
This is on top of the S$600 they will receive as part of the earlier announced AP Cash Component.
Meanwhile, those with an assessable income of between S$34,000 and S$100,000 will receive an additional S$150, on top of the S$350 from the earlier AP.
Here’s a table showing the breakdown, courtesy of MOF.
Source: Ministry of Finance
Singaporeans who own more than one property or have an assessable income exceeding S$100,000 will not be eligible for new payouts.
However, they will still receive S$200 as part of the earlier announced AP cash payout.
All Singaporean households to receive S$200 in CDC vouchers in 2024
In addition to the cash payout, all Singaporean households will receive S$200 in CDC vouchers in 2024.
Households may use S$100 at heartland merchants and hawkers and the other S$100 at participating supermarkets.
With the new CDC vouchers, Singaporean households will receive S$500 in CDC vouchers in 2024.
The CDC vouchers will expire in end-2024 and can be redeemed online via the CDC website from 3 Jan 2024.
MOF also announces Conservancy charges & U-save rebates also
The Finance Minister also announced other forms of rebates and subsidies as part of the new COL package.
In Jan 2024, some 950,000 Singaporean HDB households will receive an additional 0.5-month of Service & Conservancy Charges (S&CC) rebate.
The Government will extend additional U-Save rebates to cushion the impact of increasing carbon tax and water prices.
About 950,000 Singapore HDB households will receive S$20 per quarter from Jan 2024 to Dec 2025. These rebates will amount to S$160 over the entire two-year period.
MOF also announced additional public transport subsidies of S$300 million in 2024 to combat the fare hike announced earlier this month.
Bus & Train Fares Will Increase By Up To 11 Cents In 2023, More Hikes Expected In Future Years
Households with per capita income not exceeding S$1,600 will also receive S$50 in Public Transport Vouchers.
These vouchers will be disbursed from end-December 2023.
For the full list of measures, refer to MOF’s press release here.
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