Online calculator helps Singaporeans find out how much they can get from Budget 2024
On Friday (16 Feb), Finance Minister Lawrence Wong announced the Budget 2024 plan, which includes a slew of support schemes for Singaporeans of different income and age groups.
Between the various benefits, some might find it hard to figure out just how much they are receiving.
To address this, the Ministry of Finance’s (MOF) Support For You Calculator allows Singaporeans to find out the estimated benefits their household will be receiving this year.
Interested parties only need to access the calculator and input their personal information such as year of birth, property ownership status, and annual income to do so.
Key in details into calculator to calculate Budget 2024 benefits
The Support For You Calculator works out how much a Singapore citizen stands to benefit from Budget 2024 after users fill in their personal information.
Source: Support For You Calculator
These include:
- Year of birth
- Assessable income
- CPF retirement savings
- Current National Service status
- Annual value of property
- Number of household members
It will then break down the rough amount of support they can receive as an individual and as a household. The platform also indicates when residents can expect the benefits to come in.
Source: Support For You Calculator
Besides the upcoming monetary assistance, the calculator also projects how much savings and benefits individuals can receive up to 2027.
The MOF first introduced the Support For You Calculator back in Feb 2023, in time for last year’s Budget announcement.
New support schemes announced on 16 Feb
Finance Minister Lawrence Wong unveiled the Government’s plans for Budget 2024 on Friday (16 Feb).
DPM Lawrence Wong Will Deliver Budget 2024 Statement On 16 Feb, Live Broadcasts Available
This year, benefits for Singaporeans include, but are not limited to:
- Additional S$600 worth of CDC Vouchers, as part of the enhancements to the Assurance Package.
- S$4,000 top-up to SkillsFuture credits in May for those aged 40 and up
- S$200 worth of digital credits in November for all past and present National Servicemen
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Featured image adapted from wattanaracha on Canva and Support For You Calculator.
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