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SOME 2.4 million Singaporeans stand to get benefits of $3 billion which the Government will give out this year, money which will help many households cope with the rising cost of living.
The benefits are part of the $1.8 billion of surplus sharing - including $865 million of Growth Dividends - announced in the 2008 Budget Statement, and other measures such as the Goods and Services Tax (GST) offset package, said the Finance Ministry on Monday.
Singaporeans who signed up for the GST credits last year will automatically receive their GST dues this year.
They will get letters from the CPF Board by Tuesday informing them of the amount of Growth Dividends, GST Credits and Senior Citizens' Bonus they stand to get.
They will automatically receive the following:
First installment of Growth Dividends by April 30.
2008 payout of GST Credits and Senior Citizens' Bonus by July 1.
Second installment of Growth Dividends by Oct 11
Those who did not sign up for their GST Credits in 2007 and those who newly qualify for GST credits in 2008 (123,000 in total), can sign up for their payouts from Tuesday. They have until the end of the year to do so.
Singaporeans who wish to donate their payments can do so at www.gstoffset.gov.sg from 15 April 2008 using either their SingPass or the one-time PIN (enclosed in the letter they will receive from the CPF Board).
Singaporeans will also receive top-ups to their Medisave and Post-Secondary Education Accounts (PSEA), Income Tax Rebates, Property Tax Rebates and Utilities-Save (U-Save), Service & Conservancy Charges (S&CC) and Rental Rebates.
'All these benefits will help Singaporean households, especially the lower income, cope with the recent increase in costs of living,' said the Finance Ministry in a statement.
For example, a family of three living in a three-room HDB flat could receive benefits of about $5,000, which is about six times the estimated increase in their cost of living.
A family of five living in a 5-room HDB flat will get about $4,900 - about 2.5 times the estimated increase in their living costs (see Annex B).
Singaporeans who need additional help can approach their Community Development Councils or Family Service Centres, or their grassroots leaders.
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