Budget 2024: Extra S$600 CDC Vouchers for S’poreans as part of Assurance Package enhancement

Budget 2024: Lawrence Wong announces that Singaporean households will receive additional S$600 in CDC vouchers

In his Budget 2024 speech today (16 Feb), Deputy Prime Minister (DPM) and Finance Minister Lawrence Wong announced that all Singaporean households will receive an extra S$600 worth of Community Development Council (CDC) vouchers.

Part of a S$1.9 billion enhancement of the Assurance Package (AP), the vouchers will be distributed in two different phases — S$300 in end-June 2024, and another S$300 in January 2025.

In addition, adult Singaporeans will receive a one-off cost-of-living special payment of S$200 to S$400 each.

Singaporean households to receive S$600 worth of CDC vouchers

DPM Wong shared that the government will inject S$1.9 billion into the AP to help Singaporeans cope with the cost-of-living crisis.

The enhancements include an additional S$600 in CDC vouchers, the first half of which Singaporean households will receive in end-June 2024.

Source: Channel NewsAsia on YouTube

They will receive the remaining S$300 in January next year.

The government will also be disbursing a cost-of-living special payment to adult Singaporeans in September.

Source: Channel NewsAsia on YouTube

The payment will range between S$200 to S$400 in cash.

To be eligible for the payment, Singaporeans must have an assessable income of up to S$100,000 and not own more than one property.

Households in HDB flats will receive U-Save & S&CC rebates

In addition, the enhancements involve U-Save rebates for those residing in Housing and Development Board (HDB) flats to help with utility bills.

Source: Channel NewsAsia on YouTube

The rebates will be distributed in four tranches from April 2024 to March 2025.

DPM Wong added that eligible households will receive rebates of up to S$950 in the financial year of 2024.

The rebates also equate to 2.5 times the amount of regular U-Save rebates.

“This will cover about four months of utility bills for those living in three- and four-room flats,” he said.

Households with members owning more than one property will not be eligible for the U-Save rebates.

The government will also provide a one-off rebate for Service and Conservancy Charges (S&CC) for HDB flats.

Eligible households will hence receive up to four months of S&CC rebates in 2024.

The government will top up the existing GST Voucher fund with a further S$6 billion as well.

“This delivers on our commitment to permanently defray GST expenses for lower- and middle-income households, through the GST Voucher scheme,” DPM Wong said.

Also read: Why Someone Outside Your Household Can Claim Your CDC Vouchers & What You Can Do

Why Someone Outside Your Household Can Claim Your CDC Vouchers & What You Can Do

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Featured image adapted from Channel NewsAsia on YouTube.

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