{"id":115194,"date":"2020-03-27T11:33:34","date_gmt":"2020-03-27T04:33:34","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/resilience-budget-singaporeans-to-enjoy-3x-more-cash-payouts\/"},"modified":"2020-03-27T12:03:25","modified_gmt":"2020-03-27T05:03:25","slug":"resilience-budget-singaporeans-to-enjoy-3x-more-cash-payouts","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/resilience-budget-singaporeans-to-enjoy-3x-more-cash-payouts\/","title":{"rendered":"Resilience Budget: Singaporeans to enjoy 3X more cash payouts"},"content":{"rendered":"


\nMeanwhile, the cash payouts for families with young children will also be tripled from $100 to $300 for each Singaporean child.
\nIn a bid to help Singaporeans tide over the difficult situation brought about by the Covid-19 pandemic, Deputy Prime Minister and Finance Minister Heng Swee Keat announced that the cash payouts unveiled during February\u2019s Budget will now be tripled as part of the $48 billion Resilience Budget during his Parliament speech on Thursday (26 March), reported TODAY Online.\u00a0
\nThis means that adult Singaporeans will get cash payouts between $300 and $900 depending on their income, which is three times more than the $100 to $300 previously announced during his Budget 2020 speech.\u00a0
\n\u201cMany Singaporeans are concerned about how they will pay their bills and household expenses if their livelihoods are affected during this uncertain period. We will put more cash in the hands of all families to help them cope,\u201d said Heng.
\nMeanwhile, the cash payouts for families with young children will also be tripled from $100 to $300 for each Singaporean child.
\nHe also revealed that the $100 one-off Passion Card top-up for Singaporeans aged 50 and above will now be credited directly in their designated bank accounts to eliminate the need to queue at top-up stations.
\nThe grocery vouchers given to lower-income Singaporeans this year will also be tripled to $300 from $100 originally.
\nWith the enhancements, Heng noted that a young family will now enjoy about $2,900, up from $1,300 previously. A three-generation family will get about $6,700, instead of $1,800, he added.
\nThe grant given to self-help groups that help families and vulnerable groups via their own assistant schemes will also be doubled to $20 million over two years.
\nThe grant for Community Development Councils will also be raised to $75 million from $20 million.
\nHe added that the government would also exercise greater flexibility on its fees and loans during this period.
\nIt will freeze all government charges and fees effectively from 1 April to 31 March 2021.
\nTo help graduates worried about their student loans while searching for jobs in this economic environment, the government will also suspend all interest charges and loan repayments on government loans for polytechnic and university studies from 1 June to 31 May 2021.
\nLate payment charges on Housing and Development Board (HDB) mortgage arrears will be suspended for three months to help homeowners who are struggling with their mortgage payments.
\nNeed help to refinance your home during this tough period? Speak to our helpful financial advisors for the best refinancing rates on PropertyGuru Finance.\u00a0
\n\u201cHBD will continue to exercise flexibility when providing assistance during this period, through existing measures such as deferring payment of loan instalments for six months,\u201d said Heng.
\nOverall, the enhancements will cost the Singapore government around $3 billion more, higher than the $1.6 billion previously announced in February\u2019s Budget.
\n\u00a0
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Resilience Budget: Singaporeans to enjoy 3X more cash payouts<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Meanwhile, the cash payouts for families with young children will also be tripled from $100...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-115194","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-tXY","jetpack-related-posts":[{"id":117506,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/1-4-million-singaporeans-to-get-570mil-in-gst-vouchers-next-month\/","url_meta":{"origin":115194,"position":0},"title":"1.4 million Singaporeans to get $570mil in GST Vouchers next month","date":"July 2, 2020","format":false,"excerpt":"\r Eligible Singaporeans will receive up to $300 in GST voucher, which will be directly credited into their bank accounts from 1 August. 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