Eligible S’poreans Will Get Up To S$500 Cash Voucher In Dec To Cope With Inflation

Eligible Singaporeans Will Get Up To S$500 Cost Of Living Cash Voucher In December

Come Dec 2022, about 2.5 million adult Singaporeans will be receiving cash vouchers of up to S$500.

The cash vouchers are part of a new S$1.5 billion support package to help citizens cope with inflation and rising costs of living.

In addition to the cash voucher, all households will receive a S$100 CDC voucher in Jan 2023. They can use these at heartland shops and participating supermarkets.

Eligible Singaporeans to get cash voucher between S$300 & S$500

According to the Ministry of Finance (MOF), about 2.5 million adult Singaporeans will receive a Cost of Living (COL) Special Payment of up to S$500 cash by the end of this year.

In order to qualify, individuals must meet the following criteria:

• an Assessable Income (AI) of S$100,000 and below for Year of Assessment 2022
• not own more than one property
• be 21 years old and above in 2023

Meanwhile, here’s a summary of the AI bands and their corresponding voucher amounts:

• S$22,000 or less — S$500 voucher
• between S$22,000 and S$34,000 — S$400 voucher
• between S$34,000 and S$100,000  — S$300 voucher

Eligible individuals will receive their cash payments in Dec 2022 along with the payout from the Assurance Package the Government announced in Budget 2022.

Singaporeans need not register to get the COL voucher. More information will be available in Nov 2022.

Besides the COL voucher, households will receive an additional S$100 CDC voucher in Jan 2023.

Together with the S$200 CDC vouchers under the Assurance Package, they will get vouchers amounting to S$300 by January 2023.

Households may use these vouchers at heartland shops and participating supermarkets.

MOE to raise income eligibility criteria for financial assistance schemes

Parents with school-going children will also be happy to hear that MOE will be raising the income eligibility criteria for financial assistance schemes (FAS). This is applicable to primary, secondary, and pre-university students from 1 Jan 2023.

The changes will apply to Government bursaries for post-secondary and education institutions from the academic year 2023.

To help Singaporeans defray raising transport costs, the Government will be disbursing 600,000 public transport vouchers worth S$30 each to lower-income households.

The Public Transport Council (PTC) announced the move earlier this week alongside findings of the Fare Review Excise 2022.

The review had prompted a hike in public transportation fares of up to five cents.

Part of support package to tackle inflation & rising costs of living

The initiatives are part of a new S$1.5 billion support package that aims to provide more support for lower- to middle-income groups amid rising costs.

According to MOF, the upcoming measures, together with those they rolled out this year, will “fully cover” the rise in the cost of living for lower-income households.

As for middle-income households, the measures will likely cover more than half of the increase in their expenses.

More information is available via MOF’s statement here.

Have news you must share? Get in touch with us via email at news@mustsharenews.com.

Featured image by MS News.