Singapore
MOF: 1.5M Singaporeans to receive up to S$850 in August amid rising costs
The Ministry of Finance (MOF) announced on 4 July that 1.5 million eligible adult Singaporeans will receive cash payouts in August amid economic challenges. Eligible recipients will get up to S$850, S$150 more than last year, based on their home’s Annual Value.
SINGAPORE: The Ministry of Finance (MOF) announced on 4 July that approximately 1.5 million eligible adult Singaporeans will receive cash payouts in August to assist with their daily expenses.
Recipients living in homes with annual values up to S$21,000 will receive S$850. Those residing in homes with annual values exceeding S$21,000 but not surpassing S$25,000 will receive S$450.
“This means that all eligible recipients will receive an additional S$150 or S$100, as compared to last year,” stated MOF in a press release.
These payments are intended for Singaporeans aged 21 and above with an assessable income of up to S$34,000 for the year of assessment 2023. Individuals owning more than one property are ineligible for this payout.
In addition, about 650,000 Singaporean citizens aged 65 and above will have up to S$450 credited to their Central Provident Fund MediSave accounts in August.
These disbursements are part of the GST Voucher (GSTV) scheme, aimed at permanently alleviating GST expenses for lower- to middle-income Singaporeans amidst the recent increases in goods and services tax.
The GST rate rose from 7% to 8% in January 2023 and further to 9% at the start of 2024.
According to MOF, the 2024 GSTV disbursements, initially announced by Prime Minister Lawrence Wong in February 2023, will total $1.4 billion, an increase of about $200 million from 2023.
Citizens who haven’t previously enrolled in the GSTV Scheme can sign up at the govbenefits website by 9 July.
Those registering after this date and by 20 June 2025, will receive their payments by the following month’s end.
MOF encouraged citizens to link their NRIC to the PayNow funds transfer service by 22 July, enabling them to receive their payouts in early August. Twelve local banks, including DBS and UOB, support PayNow.
Those without a PayNow-linked NRIC can update their bank details on the govbenefits website by 26 July.
Recipients using GIRO will receive their payments from 12 August.
Eligible citizens who haven’t linked their NRIC to PayNow or provided a valid bank account will receive payment via GovCash, allowing withdrawal from OCBC ATMs island-wide.
They can retrieve their payment reference number from the govbenefits website starting 22 August, along with their NRIC and facial recognition.
Recipients will be notified in August after their cash or MediSave disbursements have been credited.
Notifications about GST Voucher disbursements will be sent via the Singpass app or SMS to registered mobile numbers, ensuring transparency and security.
Citizens are cautioned against responding to unsolicited messages or requests for personal information.
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Boasting is PAP’s 2nd nature..
This is just scraps thrown down to the peasants, from the emperor’s banquet table.
Spam
The gov should just keep the money and give us our original jobs back instead of giving them to foreigners through fta.
Then, is $850 enough for real swiss living standards?
Spam
Hey, that’s our taxpayers money you are returning to us!
The chiefs and its council of founding fathers of fathering fathers, decided, … that with the moans, groans and tone of the villagers and peasants, it’s time to toss over some crumbs, fish and veggies from the old stockpile, … to fill their tummies and shut their mouths, .. for a~while at least !!!
Chicken wing lai liow. After GE take back whole chicken.
This is insulting in a First World. Please establish a living wage. Property taxes have been raised so the payouts on eligibility amounts will not reflect the actual needs of households.
More than half of Singaporean eligible to vote this coming GE qualify to receive Pappy’s hand-out comes August.How come Singapore which has been proclaimed as one of the wealthiest country in the world can end up with 1,500,000 of her adult citizens having to depend on handout to help tie over the ever increasing COL caused by the “what’s wrong with having more money “policy directives of the regime.Something has gone very wrong indeed.Let’s see how many more GRCs Pappies will loose in the coming GE.
The World’s Most Retardardly Expensive Leader of tiny SG admonished vulnerable minds TO LOOK WITHIN THEMSELVES – everyone SCRATCHES ADULT heads.
Why Why Why the LEADERSHIP is UTTERLY NOT NOT looking WITHIN themselves too? Ownself WON’T do what they preach, hahaha
CONTINUING the Ownself Series – OWNSELF do NOT APPLY OWNSELF when NOT NEEDED.
The Sing Dollar is so high, yet it’s NOT EFFECTIVE to lower COSTS of Living – it’s a known AGED Fact PAP practised High S$ exchange rates should work bcz they say SG is MOSTLY an IMPORT country.
This CLASSIC GRAND LIAR EXTRAOrdinaire PAP didn’t reveal to Stupid Sheeps the benefits of High S$ exchange rate WORKS – ** ONLY for IMPORTED labour **.
While the permanent GST handout is really a band aid, a more sustainable solution to fighting the extremely high cost of living is for the G to implement the Living Wage or Minimum Income Standard as recommended by researchers. As it is, apart from the permanent GST cash voucher, other handouts are subject to the whims and fancies of the PM/FM. This means Singaporeans have no sense of financial security. Singaporeans need to be treated with respect and dignity. Only with a monthly Living Wage would Singaporeans feel that we are not waiting and begging for the crumbs that are… Read more »
Sooooo EZ. Flood the system, flood the economy with PLENTY of EZ money.
Where all these MONEY come from? PAP? PAP Monsters REDUCE own salaries? PAP Do CHARITY?
Sure PAP is GENEROUS bcz of VOTES BUYING TIME. Its FASHIONABLE Every 5 years.
But STUPID Singaporeans DO NOT KNOW Maths – HOW MUCH has PAP SQUEEZED and SQUEEZED their balls, their WALLETS for years and years, many of 5 years BLOCKS has passed.
Is this serving the people?!? SG population is 6mil but help rendered is only to a specific number group they decide?!? No transparency or anything … While top tier are having their million dollars salary and continuing to build cups for their kakis to sit in while using other ppl entities. No?!?
Now the focus is on their entities is, ia, ie all for their women groups. No?!?