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.
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.
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.
In addition, the enhancements involve U-Save rebates for those residing in Housing and Development Board (HDB) flats to help with utility bills.
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
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Featured image adapted from Channel NewsAsia on YouTube.
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