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
Have news you must share? Get in touch with us via email at news@mustsharenews.com.
Featured image adapted from Channel NewsAsia on YouTube.
Drop us your email so you won't miss the latest news.
