Finance
SG Budget 2024: Govt to issue S$200-S$400 cost-of-living aid to eligible S’poreans
Deputy PM Lawrence Wong announced plan to distribute cost-of-living payments of S$200-S$400 cash to adult citizens aged 21 and above with incomes under S$100,000 and owning not more than one property during the 2024 Budget.
SINGAPORE: Deputy Prime Minister and Finance Minister Lawrence Wong announced plans for the Singaporean government to distribute cost-of-living payments ranging from S$200 to S$400 in cash to adult citizens aged 21 and above this year.
These payments will be allocated to individuals residing in Singapore with incomes not surpassing S$100,000 and who own no more than one property.
This was announced during the Singapore’s 2024 Budget in Parliament on Friday, 16 February.
“I will provide a cost-of-living special payment of between S$200 and S$400 in cash.
“This will be extended to adult Singaporeans with accessible income of up to S$100,000, and who do not own more than one property,” remarked DPM Wong during the SG Budget 2024 proceedings.
The introduction of this initiative builds upon the initial announcement of the Cost-of-Living Support Package in September 2023.
This move aims to offer greater assistance to Singaporean households, particularly those belonging to lower-to-middle-income brackets, as they grapple with the challenges posed by heightened inflation and the rising cost of living.
Furthermore, to bolster support for households across the income spectrum, the Assurance Package will undergo enhancements.
Under this initiative, all Singaporean households will benefit from an additional S$600 in Community Development Council (CDC) vouchers.
Approximately 1.4 million Singaporean households stand to benefit from this allocation.
The disbursement of the CDC vouchers will occur in two installments. The initial S$300 will be distributed by the conclusion of June 2024, with the remaining S$300 slated for disbursement in January 2025.
These vouchers can be redeemed at participating merchants, hawkers, and supermarkets, thereby directly easing the financial strain on households.
Moreover, eligible Housing and Development Board (HDB) households will receive up to S$950 in one-time U-Save rebates, equivalent to approximately four months’ worth of bills for occupants of three- and four-room flats.
Additionally, households meeting the eligibility criteria will receive four months of rebates alongside the regular rebates for service and conservancy charges.
The bolstered Assurance Package, aimed at aiding lower-income families and larger households, particularly those with seniors and children, is projected to cost S$1.9 billion.
In light of these measures, a middle-income household consisting of four members, comprising a couple and two children, stands to receive approximately S$3,000 in benefits. This includes cash assistance, MediSave top-ups, U-Save rebates, service and conservancy charge rebates, as well as CDC vouchers.
Conversely, a lower-income household of four is expected to benefit even more, receiving around S$5,500 in various forms of assistance.
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Just, … another budget gifting more of the peoples monies, back to the people.
With a catch and cautionary tale though, … it looks like, smells like and tastes like, … a gift, out of compassion and consideration.
But, in truth, … they’ve oredi configured how to get it all back plus more !!!
Anyways, so long as the majority and new converts to the lightning party are happy, … that is all that truly matters !!!
Here we expecting government to feed us for life and even can compare to the western doing, but one thing always omitted in comparing is the amount of tax we pay and they pay. Ang moh here I talked to envy us that we pay little tax and yet our government still gives out freebies, and their homeland half of their salary goes to tax. That’s why they are here. Hence stop talking good about them if you don’t even understand their tax structure.
Day in day out talk shit about our good government, where is your conscience?
Wow, the budget under LawlanWong looks so beneficial to Singaporeans. It just makes us wonder wtf has Ah Loong been doing all these years (besides calling us Free Riders, and persecuting his own siblings, and suing any critics to save face, and burning through our reserves for his failures, etc..)
What happens to the shit? Looks like he is happy with $400 col allowance or $33/- a month for 12 long months.
it is better for him to have lw at his constituency so as to enjoy this col every 5 years during his erection time.
All this seems good on the surface but the cost of living has gone up way too high and an increase in medical, utilities, transportation and food costs will wipe away all this “goodies.” I have never supported rebates as it will be one time while increases are permanent. Instead of these many tiered seemingly monetary “help,” that is dished out, I still prefer the Canadian style of governance that establishes a living wage for all at $1800/-. Free medical for all citizens, free transportation once you reach sixty five and $500/- monthly for all citizens once you reach 65years.… Read more »
Why publish and get reprimanded for falsehoods? Check facts first else how to continue? The worst is own goals.
At the midpoint of $300/-, this provides each recipient a sum of $25/- a MONTH.
ON a 1-TIME PAYOUT.
Can this tame col? While the increase of 2% gst is for everyday and EVERYTHING!
Well, my property related taxes increased by about $5000, assuming I get $400 cost of living aid, pap still profit $4600. Even if I add up all the other AIDS that come, I think still can’t cover.