Singaporeans to get up to $1k in payouts this month
Eligible Singaporeans will receive up to $1,000 this month to help them with living costs, under schemes previously announced by the Government.
With this month's payout, the total amount given out to Singaporeans under the Care and Support Package and the Solidarity Payment this year reaches $3.5 billion.
The second tranche of the cash payout to individuals under the Care and Support Package - $600 or $300, depending on income - will be credited to Singaporeans' bank accounts from June 18, the Ministry of Finance said yesterday.
Parents with at least one Singaporean child aged 20 and under this year will each receive an extra $300, while Singaporeans aged 50 and above will get another $100 in cash.
The $600 or $300 Care and Support Package payout to individuals represents the remainder of the Government's commitment under the scheme, which gives eligible Singaporeans a total of $900, $600 or $300 this year.
A previous $300 was paid in April as part of the $600 Solidarity Payment, which means those in the higher-income bracket, with assessable income of more than $100,000 last year or who own more than one property, will not receive any further payouts this month.
Deputy Prime Minister Heng Swee Keat said yesterdaythis month's payouts will total $1.6 billion.
Nearly $100 billion, or close to 20 per cent of Singapore's gross domestic product, has been earmarked under the four Budgets to help Singaporeans tide over what could be the country's worst economic crisis since independence.
Mr Heng said: "Caring for and supporting our people is crucial during this challenging time... I hope this will alleviate the expenditure concerns of our families."
He added that people can consider donating their cash payout to a good cause on fund-raising website Giving.sg
Those who have a PayNow account linked to their NRIC by next Thursday will receive the money on June 18; those without but who had provided their bank account details for receiving government payouts will receive the money on June 25.
The rest will receive the money in stages via cheques between June 30 and July 9, the Finance Ministry said. - THE STRAITS TIMES