Eligible Singaporeans will each receive between S$200 and S$400 (฿5,308-฿10,618) next month, as part of package to help them cope with the rising cost of living, Business Today online reported yesterday.
Over 2.4 million Singaporean adults will receive this one-off cash payment under the state’s Assurance Package, said the Ministry of Finance (MOF) yesterday.
It will be disbursed to all Singaporeans aged 21 and over in 2024 and with an assessable income of not more than S$100,000 (฿2,653,893) in the Year of Assessment (YA) 2023. They must also not own more than one property.
The benefit amount will depend on the recipient’s assessable income.
The package was first announced in the island state’s strategic financial plan, called ‘Budget 2020’, to help offset additional goods and services tax (GST) expenses.
The payments are being disbursed over five years, from 2022 to 2026.
Then Deputy PM Lawrence Wong, who is also Finance Minister, announced at ‘Budget 2024’ that the government will increase the Assurance Package by a further S$1.9 billion, to help address cost of living concerns.
In addition to the cash payment in September, eligible Singaporeans will receive U-Save rebates, Community Development Council (CDC) vouchers, service and conservancy charge (S&CC) rebates, additional cash benefits and an Assurance Package Seniors’ Bonus in the coming months.
