Singapore Budget 2020 announced
All adult Singaporeans aged 21 and above will be getting cash payouts between $100 and $300 this year, according to Singapore Budget 2020 released earlier today.
The Singapore Budget 2020 was also streamed live on YouTube. You can watch the recorded video 2-hour speech below.
Who’s getting what?
According to The Straits Times, a total of $1.6 billion Care and Support package will be provided to help families cope with household expenses and economic uncertainties this year due to the Covid-19 virus outbreak.
Here’s a breakdown of the cash payout:
- Income up to $28k in 2019: $300
- Income between $28k and $100k: $200
- Income above $100k or own more than 1 property: $100
Besides the cash payout, the government will also be extending conservancy rebates by another year:
- HDB 1 & 2-room: 3.5 months
- HDB 3 & 4-room: 2.5 months
- HDB 5-room: 2.0 months
- Excutive/Multi-Generation: 1.5 months
All eligible households will also be receiving additional GST Voucher credited to their utilities account. See below table for more info.
| HDB Flat Type | Regular GSTV – U-Save | GSTV – U-Save Special Payment | Additional GSTV – U-Save rebate | Total GSTV – U-Save for FY2020 |
|---|---|---|---|---|
| For all eligible households | For eligible larger households | |||
| 1- and 2-room | $400 | +$400 | +$200 | $800 or $1,000 |
| 3-room | $360 | +$360 | +$180 | $720 or $900 |
| 4-room | $320 | +$320 | +$160 | $640 or $800 |
| 5-room | $280 | +$280 | +$140 | $560 or $700 |
| Executive / Multi-Generation | $240 | +$240 | +$120 | $480 or $600 |
Some things to take note:
- Households whose members own more than one property are not eligible for GSTV – U-Save.
- Eligible households will receive their regular GSTV – U-Save over four quarters in April 2020, July 2020, October 2020 and January 2021.
- On top of the regular GSTV – U-Save, eligible households will receive their GSTV – U-Save Special Payment over two quarters in April 2020 and July 2020, and eligible larger households with five or more members will receive their additional GSTV – U-Save rebate over two quarters in October 2020 and January 2021.
- Household members refer to individuals living at the same residence (as reflected on their NRICs), and who are related by blood, marriage, or legal adoption (e.g. spouse, parents, children, siblings, uncles, aunts, cousins, and in-laws). Domestic helpers, unrelated tenants, god-parents, and friends are not considered household members.
