Singapore’s Ministry of Finance (MOF) has said Singaporeans will receive up to S$700 in cash in December. It is part of measures to help Singaporeans cope with the increase in the Goods and Services Tax (GST) and rising cost of living.
The statement said that around 2.9 million Singaporean adults will receive up to S$200 in cash under the guarantee package. and will be entitled to a Cash Gratuity Allowance (COL) of up to S$500. to be paid at the same time
This extra one-off COL payment is part of a S$1.5 billion assistance package. Singapore’s Deputy Prime Minister and Finance Minister Lawrence Wong announced it in October. which will help ease the cost of living for families in Singapore.
The subsidy will be available to Singaporeans who turned 21 in 2023 and have a taxable income of no more than S$100,000 in the assessment year or in 2022 and who no longer own one property.
By InfoQuest news agency (Nov. 15 ’22)
Tags: GST, M OR F, Ministry of Finance, Cost of living, Singapore
