Article originally posted on Gov.sg.
$5.7 billion Enhanced Care and Support Package
- One-off cash payouts
- $600 cash for all Singaporeans aged 21 and above in April 2020
- Additional $300 or $600 in cash in June 2020, depending on income
- Additional $300 for each parent with at least 1 child aged 20 and below, in June 2020
- More help for lower income
- $400 grocery vouchers over the next two years
- $3,000 Workfare Special Payment for lower-income workers
- More support for household expenses
- $100 Solidarity Utilities Credit for each household with at least one Singapore Citizen
- Doubled GST Voucher – U-Save rebates for all eligible HDB households
- 2.5 times more rebates for households with 5 or more members
- Just for seniors
- $100 cash top-up for Singaporeans aged 50 years and above, in June 2020
Find out more
Workfare
- Workfare Income Supplement: Up to $4,000 a year for lower-income Singaporeans
- Workfare Skills Support: $500 award per full qualification for lower-income Singaporeans from July 2020
- Workfare Special Payment of $3,000 in cash
Find out more
$6 billion Assurance Package
- To cushion GST increase when it happens sometime between 2022 and 2025
- Cash payout of $700 - $1,600 for adult Singaporeans over 5 years
- Offsets will cover at least 5 years’ worth of additional GST expenses
Support for the financially impacted
- Courage Fund of up to $1,000 for affected lower-income households whose family member(s) have contracted COVID-19 or are on Stay Home Notice, mandatory Leave of Absence or Home Quarantine Order
- $18m top-up to the Invictus Fund to support Social Service Agencies maintain services to help the vulnerable
- Dollar-for-dollar matching on eligible donations, capped at $250,000 per charity
----------------------------------------------------------------------------------------------------------
Not sure whether your company can be qualified for bank loans or alternative lending? Try our A.I assisted loan, and Smart Towkay team will send you a lending report within 24 hours' time. With the lending report, we aggregate and recommend the highest chance of approval be it with BANKS / FINANCIAL INSTITUTIONS or Alternative lenders like Peer to Peer Lenders or even B2B lender!
Got a Question?
WhatsApp Us, Our Friendly Team will get back to you asap :)
Share with us your thoughts by leaving a comment below!
Stay updated with the latest business news and help one another become Smarter Towkays. Subscribe to our Newsletter now!
.jpeg)
