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Singapore Budget 2020 to Help Singaporeans Fight Covid-19

Posted by Michelle Fu on April 3, 2020
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Singapore Budget 2020 to help all Singaporeans fight Covid-19

The latest Singapore Budget 2020 is announced and together we can fight Covid-19 as a nation.  The sudden outbreak of Covid-19 has caused many uncertainties and significant economic slow-down.  Singapore government has come up with many contingency plans to help households and business owners cope with essential expenses.

Deputy Finance minister Mr. Heng Swee Kiat has set aside $1.6 billion in his budget 2020 speech in February.  In addition, a further $3 billion has been allocated in the Resilience budget in March, coming to a total of $4.6 billion.

The Care and Support Budget is over an on top of a $20 million grant to assist self-help groups, a $55 million grant to Community Development Councils to help support needy families.

Let’s look how the Care and Support Budget is being utilized:

  • One-time cash payout of up to $900
  • GST Voucher – U Save
  • Service and Conservancy Charges Rebates
  • Grocery Vouchers
  • Workfare Special Payments
  • Service and Conservancy Charges Rebates

Singapore Budget 2020 Plans In Details

One-time cash payout

All Singaporeans aged 21 years old and above in 2020 are entitled to a one-time cash payout between end of August and September 2020.

Parents with one or more Singaporean children below the age of 21 in 2020 will also receive an additional $300.  For Singaporeans earning more than $100,000 annually or own more than 1 property will also be entitled to receive a one-time $300.

GST Voucher – U Save

GST Voucher is provided to assist lower- and middle-income Singapore household families.  The GST Voucher is used to help offset GST expenses and utilities rebates for HDB households.

Singapore HDB households will receive double the regular amount in 2020.  To further assist larger households, with more than 5 members in a family nucleus ( excluding tenants, helpers, grandparents or friends), will also receive additional U-Save rebates.

The U-Save rebates will be given out over 4 quarters in April, July, October 2020 and January 2021.  You do not need to apply for these rebates as it will be automatically credited into your household utilities bills.

Service and Conservancy Charges (S&CC)

All Singaporean households living in HDB will be entitled to 1.5 to 3.5 months of S&CC charges.  Households who have rented their HDB out and collecting rental and households with any family members owning a private property will not be entitled to S&CC rebates.

Eligible households will receive the rebates every quarterly starting from April 2020, July, October 2020 and January 2021.  The rebates can be used to offset the bills of the month and the following month.

Grocery Vouchers

Grocery Vouchers will be mailed to your NRIC registered address in Q4 2020.  Singaporeans aged 21 and above in 2020 and living in 1 or 2-bedroom HDB flats, and do not own more than 1 property will be eligible for a $300 grocery voucher in 2020.  A separate $100 voucher will also be given out in 2021.

The grocery vouchers can be used in all participating supermarkets like NTUC Fairprice, Sheng Siong and Giant supermarkets.

Workfare Special Payments

The Workfare Income Supplement (WIS) is drawn up to help our lower-wage workers.  These workers’ earnings are in the bottom 20% and the scheme helps to top up the workers’ salaries in the form of CPF and cash supplements.

The WSP has been increased from $720 to $3000 and covers all Singaporean low-wage employees and self-employed of age 35 years old and above in 2020.

Eligible Singaporeans can expect to receive this pay-out in 2 equal parts.  $1500 will be paid in July and the remaining $1500 will be payout in October 2020.

You may also read Solitary Budget Announced To Help Self-Employed

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