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| Singaporeans to receive $256 million more in benefits in 2008 |
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MINISTRY OF FINANCE
18th August 2008 |
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| 1. To further help low and middle-income Singaporeans at a time of higher costs of living, the Government will be distributing an additional support package amounting to $256 million. The enhancements comprise a 50% increase in the remaining installment of Growth Dividends (GD) and a 50% increase in the total amount of Utilities-Save (U-Save) rebates to be given out in Fiscal Year (FY) 2008. |
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| 2. The average Singaporean household can expect to receive an additional $250-$330 with these enhancements, on top of the benefits they are already receiving. Elderly households and lower income households will typically get more, depending on the number of adults in the household. |
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| Enhanced second installment of Growth Dividends (GD) |
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| 3. The second installment of GD, inclusive of the 50% enhancement, will be given out as scheduled on 1 October 2008 [1]. The enhanced GD will cost the Government an additional $190 million. Most Singaporeans living in HDB households will receive between $75 and $150 more, individually, as a result of the enhancement. As before, the GD each eligible person receives will depend on their annual income and the annual value of their home, as shown in Table 1 below. |
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Annual Value of Home as at 31 December 2007 |
| Income in Year of Assessment 2007 |
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$5,000 or less
(1R, 2R, and 3R HDB flats) |
$5,001 to $10,000
(4R, 5R, exec flats and
some private properties) |
More than $10,000
(Most private properties) |
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$24,000 or less |
$500
($200/$300)
For those 60 and above:
$750
($300/$450) |
$375
($150/$225)
For those 60 and above:
$562
($225/$337) |
$187
($75/$112)
For those 60 and above:
$281
($113/$168) |
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$24,001 to $100,000 |
$375
($150/$225)
For those 60 and above:
$562
($225/$337) |
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More than $100,000 |
$125 ($50/$75) |
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| Figures in brackets show the first installment of the Growth Dividends and enhanced second installment of the Growth Dividends announced at National Day Rally respectively. |
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| 4. Singaporeans who have received their GST Credits/Senior Citizens' Bonus and their first installment of GD will automatically receive the second installment of GD, inclusive of the 50% enhancement, on 1 October 2008. You do not need to sign up again to qualify for the enhanced GD. You can log on with your SingPass at http://www.growthdividends.gov.sg or www.gstoffset.gov.sg from 8 September 2008 to find out your revised GD allotment. Those who have not signed up for their GST Credits/Growth Dividends can do so online at above-mentioned websites or by hardcopy forms available at CPF Service Centre, Community Centres/Clubs and Community Development Councils. You have until 31 December 2008 to do so. |
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| 5. If you wish to donate your second installment of GD, you may do so online via the same websites by 23 September 2008. Further information on the GD and the GST Credits/Senior Citizens' Bonus can be found on these websites or by calling our hotline at 1800-2222-888. |
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| Additional Utilities-Save (U-Save) rebates for HDB households |
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| 6. HDB households will receive an increased U-Save rebate in November 2008 ranging from an additional $40 to $110 depending on their flat type. This is a 50% increase on the amount of U-Save rebates to be given out in FY2008 (April 2008- Mar 2009). The additional U-Save rebates will cost the Government $66 million. |
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| 7. Eligible households will automatically receive the additional U-Save rebates which will be credited into their SingPower Services utility accounts in November 2008. The current and new U-Save rebates for eligible households are shown in Table 2 below. Un-utilised rebates can be rolled over. Households that conserve electricity, gas or water will see their U-Save rebates offset their utility bills for a longer period of time. |
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| HDB Flat Type |
Existing FY2008 Rebate* |
Additional rebate given in November 2008 |
Total Rebate given in FY2008 |
| 1-room |
$220 |
$110 |
$330 |
| 2-room |
$220 |
$110 |
$330 |
| 3-room |
$200 |
$100 |
$300 |
| 4-room |
$190 |
$95 |
$285 |
| 5-room |
$120 |
$60 |
$180 |
| Exec |
$80 |
$40 |
$120 |
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| *Given in two equal payments in July 2008 and January 2009 |
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| Enhanced benefits to help households cope with increase in cost of living |
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| 8. These additional benefits will supplement the significant surplus-sharing schemes for Singaporeans announced in Budget 2008. |
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| 9. For example, a low-income family with elderly members, living in a 3-room HDB flat, could receive an additional $500, bringing their total benefits this year to over $5,400 (see Annex A). A typical middle-income family living in a 5-room HDB flat could receive benefits of about $3,880 (see Annex B). |
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10. Singaporeans can use the Household Benefits Calculator, available online at www.mof.gov.sg/benefitscalculator, to find out the amount of benefits that they will receive in
FY2008 (see Annex C). |
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| 11. Singaporeans who may be facing financial stress and need additional help can approach their Community Development Councils, Family Service Centres, or their grassroots leaders. Grassroots leaders administer the Citizens Consultative Committee ComCare Fund, which enables them to provide immediate assistance to needy families in financial difficulties. Singaporeans who need help can also call the ComCare Call helpline at 1800 - 222 0000. |
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| [1] Equivalent to about 25% increase in total GD (excluding National Service component) for 2008. |
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| ANNEX A |
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Growth Dividends |
GST Credits |
Senior Citizens’ Bonus |
WIS
(1*) |
Medisave Top-Ups |
U-Save
Rebate |
S&CC
Rebate |
Property Tax Rebate |
Total |
Father,
aged 68
- retired |
$750
(+$150) |
$250 |
$250 |
|
$250 |
|
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$1,500
(+$150) |
Mother, aged 67
- retired |
$750
(+$150) |
$250 |
$250 |
|
$250 |
|
|
|
$1,500
(+$150) |
Daughter, aged 46
- monthly income of $1,000 |
$500
(+$100) |
$250 |
|
$1,200 |
|
|
|
|
$1,950
(+$100) |
| Household |
|
|
|
|
|
$310
(2*)
(+$100) |
2months
$74
(3*) |
$100 |
$484
(+100) |
| Total |
$2,000
(+$400) |
$750 |
$500 |
$1,200 |
$500 |
$310
(+$100) |
$74 |
$100 |
$5,434
(+$500) |
| Figures in brackets show the additional benefits announced at National Day Rally |
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| (1*) Workfare Income Supplements |
| (2*) Includes rebates given out in January, July and November 2008 |
| (3*) Based on average S&CC by Town Councils island-wide. Actual rebate that 3-Room flats will receive will depend on their Town Council’s S&CC |
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| ANNEX B |
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Growth Dividends |
GST Credits |
PSEA Top-Ups |
U-Save
Rebate |
S&CC
Rebate |
Property Tax Rebate |
PIT rebate |
Total |
Father, aged 48
- monthly income of $4,500 |
$475
(1*)
(+$75) |
$200 |
|
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$218 |
$893
(+$75) |
Mother, aged 45
- monthly income of $3,000 |
$375
(+$75) |
$200 |
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$55 |
$630
(+$75) |
| Child, aged 15 |
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$1,000 |
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$1,000 |
| Child, aged 18 |
|
|
$1,000 |
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|
|
$1,000 |
| Household |
|
|
|
$190
(2*)
(+$60) |
1 month
$62
(3*) |
$100 |
|
$352
(+$60) |
| Total |
$850
(+$150) |
$400 |
$2,000 |
$190
(+$60) |
$62 |
$100 |
$273 |
$3,875
(+$210) |
| Figures in brackets show the additional benefits announced at National Day Rally |
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| (1*) Includes additional $100 NSmen payout |
| (2*) Includes rebates given out in January, July and November 2008 |
| (3*) Based on average S&CC by Town Councils island-wide. Actual rebate that 5-Room flats will receive wiwill depend on their Town Council’s S&CC |
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| ANNEX C |
| About the Online Household Benefits Calculator |
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The calculator allows you to find out the total amount of benefits that you and your household will receive in Fiscal Year 2008 (Apr 08 - Mar 09) in just a few easy steps.
By filling in your residence type, the number of people in your household and their particulars, you will be able to find out the breakdown of the benefits that you and the members in your household may receive*.
The benefits that you might receive include the Growth Dividends, additional Post-Secondary Education Account (PSEA) top-ups, Medisave Account top-ups and Personal Income Tax rebates which were announced during Budget 2008 as part of the Government’s effort to share part of its surplus with all Singaporeans, in view of the good economic performance and strong fiscal position in Fiscal Year 2007 (Apr 07 – Mar 08). The calculator will also include benefits from the $4 billion GST Offset Package introduced in Budget 2007 to help Singaporeans cope with the increase in GST (over a five-year period) and the Workfare Income Supplement (WIS) scheme introduced to supplement the wages and savings of workers to increase their take-home pay and increase the employability of lower wage workers.
A larger portion of the benefits will be distributed to older Singaporeans and the lower and middle income groups, with certain top-ups directed towards helping Singaporeans with their education and healthcare needs.
* The actual benefits you get will depend on the particular terms and conditions for each scheme. |
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