“Budget 2020 doesn’t concern me,” you say. “Unless there’s free money, of course. And I don’t want it to be in my CPF or Edusave or whatever fund. I want cold, hard cash that I can use to buy bubble teas.”
Well, whoever you are, your wish is granted—though the money is technically not for you to buy bubble teas, but part of a support package to help Singaporeans defray household expenses amid the downturn.
“My household expenses are bubble tea, bubble tea and bubble tea.”
Okay, if you say so. Here are the deets.
All S’poreans 21 & Above to Get Cash Payout of $100 to $300; Parents to Get Additional $100
Before you get confused and ask, “Eh, I thought I’ll be receiving $700 to $1,600 over five years due to the GST hike? Why is it only $100 to $300? You all fake news ah? Why POFMA hasn’t caught you yet?”
Well, please read carefully and don’t just skim through headlines.
The GST hike package is not related to this payout; in fact, not much info is revealed about the GST hike package since it’s confirmed that we won’t be seeing an increase in GST in 2021 liao.
Instead, this cash payout is called the Care and Support package.
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The key objective of this package is to help families defray some of their household expenses amid the downturn.
Reader Bao: Sorry to interrupt, but I don’t really care what’s the objective. I want to know how much I’m getting.
Your wish is my command.
For a start, this is for everyone: even your millionaire boss who uses $100 notes to wipe his mouth after a meal.
Here’s how much you’ll get depending on your assessable income for the 2019 year of assessment:
- Less than $28,000 = You’ll get $300. In other words, students and unemployed people would get this amount as well
- $28,000 to $100,000 = $200
- More than $100,000 or own more than one property: $100
Do note that it’s only valid for people who are aged 21 and above this year.
And if you’re 20 or younger, no worries: your parents will get $100 each instead.
All in all, the scheme cost the Government $1.6 billion.
Reader Bao: So, when can I see the money in my bank?
That’s not revealed yet, so please don’t pre-order your bubble teas first.
Other Payouts That Aren’t Cash
If you only intend to use the cash payout to buy bubble teas, then this won’t concern you. Go back to watching TikTok, please.
Still here? Good, because there’s more.
Other than the Care and Support package, Ah Gong is also giving more rebates for people living in HDBs.
Or to be more specific, people living in HDBs who pay the household bills.
For a start, the Government will extend the service and conservancy charges (S&CC) rebate, of between 1.5 and 3.5 months, by another year. Lest you didn’t know, HDB owners have to pay about $20 to $90 S&CC every month, if not you think your void deck is cleaned by the rain ah?
Also, HDB owners will also get a GST voucher that’s meant to offset their utility bills. Depending on how bigly your HDB flat is, you’ll get between $480 to $1,000 GSTV-U-Save, which is used to pay off your bills.
This Budget quite goody, isn’t it?
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