{"id":118572,"date":"2020-09-10T11:45:24","date_gmt":"2020-09-10T04:45:24","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/mps-want-government-to-review-means-testing-criteria-for-financial-aid\/"},"modified":"2020-09-11T02:02:47","modified_gmt":"2020-09-10T19:02:47","slug":"mps-want-government-to-review-means-testing-criteria-for-financial-aid","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/mps-want-government-to-review-means-testing-criteria-for-financial-aid\/","title":{"rendered":"MPs want government to review means-testing criteria for financial aid"},"content":{"rendered":"


\nChristopher de Souza (Holland-Bukit Timah GRC) said eligibility for SIRS should be based on homeownership and not on the type and value of residence.
\nThree MPs on Monday (31 August) have urged the government to review the criteria of support schemes for Singaporeans who may not qualify for financial aids, reported The Straits Times.
\nThis comes as Singaporeans who live in private or bigger homes may not be eligible for schemes such as the Self-Employed Person Income Relief Scheme (SIRS), even though they have been affected by the COVID-19 crisis, as the eligibility is based on the annual home\u00a0value.
\nSuggested read:\u00a0What Does Property Annual Value Mean And How Do You Check Yours?
\nDuring the first day of debate on the President\u2019s Address, Christopher de Souza (Holland-Bukit Timah GRC) noted that single parents returning to live with their elderly parents, soon-to-be-married children who are waiting to move into their Build-to-Order (BTO) units, and recently-divorced Singaporeans may not qualify for SIRS due to such criterion.
\nRead also:\u00a0November 2020 HDB BTO Launch: Bishan, Toa Payoh, and More
\nAccording to him, eligibility for support schemes should be based on homeownership and not on the type and value of residence.
\nThe Straits Times report noted that SIRS \u2013 which aims to help the self-employed affected by the pandemic \u2013 is only applicable to those earning a net trade income of $100,000, live in a home with an annual value of not more than $13,000, and do not own two or more properties, among other criteria.
\nLim Biow Chuan (Mountbatten) explained that while he agrees that the needy and the lower-income should receive more help, he believes the policy of pegging social assistance based on the annual values of one\u2019s property should be reviewed.
\n\u201cWhy do we have the expectation that people don\u2019t deserve help simply because they have bigger homes? Should we not look at their loss of income? Should we also insist that these people must sell their homes before they get the short-term help specifically targeted at those affected by COVID-19?\u201d he asked as quoted by The Straits Times.
\nHe underscored that Singaporeans suffering from loss of income may need help regardless of the type of home they live in, to pay for expenses such as mortgage instalments, medical bills and school fees.
\nAcknowledging that residents of private estates have benefited from ample opportunities offered within the city-state, Henry Kwek (Kebun Baru) said these residents have funded the lion\u2019s share of Singapore\u2019s tax revenue and consumed only a small fraction of government aid.
\n\u201cThis is the right balance. As economic winners of our society, it is appropriate that they contribute to help the rest of Singapore move along,\u201d he said as quoted by The Straits Times.
\nHowever, policies should be adjusted for certain groups, such as the asset-rich but cash-poor retired seniors and above 50 years old residents facing uncertainty in their careers, he said.
\nHe suggested using a combination of income, non-housing assets and the per capita housing equity of occupants within a home as a basis in assessing eligibility for support.
\nTo help asset-rich but cash-poor private estate residents better tap into their housing equity, he proposed for the government to actively work with the insurance and banking sectors to create reverse mortgage options for such residents.
\nThis would help residents who are above 70 years old to borrow against their housing equity at a reasonable rate as well as those who are opposed to disposing of their homes since they have grown accustomed to their neighbourhood.
\n\u201cIf our people can tap on their housing equity effectively, I believe most Singaporeans in the private estates would prefer to stand on their own two feet, instead of relying on government assistance,\u201d Kwek said.
\n\u00a0
\nLooking for a property in Singapore? Visit\u00a0PropertyGuru\u2019s\u00a0Listings,\u00a0Project Reviews\u00a0and\u00a0Guides.
\nVictor Kang, Digital Content Specialist at PropertyGuru, edited this story. To contact him about this or other stories, email\u00a0victorkang@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…MPs want government to review means-testing criteria for financial aid<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Christopher de Souza (Holland-Bukit Timah GRC) said eligibility for SIRS should be based on homeownership...<\/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-118572","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-uQs","jetpack-related-posts":[{"id":8215,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/still-too-early-to-remove-cooling-measures-wong\/","url_meta":{"origin":118572,"position":0},"title":"Still too early to remove cooling measures: Wong","date":"March 1, 2016","format":false,"excerpt":"\r National Development Minister Lawrence Wong. (Photo: Nitroacid \/ Wikimedia Commons) It is premature to lift the property cooling measures as it could undo the government\u2019s efforts to make home prices affordable, revealed National Development Minister Lawrence Wong during a parliamentary session on Monday (29 Feb), and reported Channel NewsAsia.\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":119922,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/dover-forest-conservation-mp-suggest-alternative-sites-for-housing\/","url_meta":{"origin":118572,"position":1},"title":"Dover Forest conservation: MP suggest alternative sites for housing","date":"February 2, 2021","format":false,"excerpt":"\r Dover Forest conservation: MP suggest alternative sites for housingMr. Christopher de Souza, the MP for Holland-Bukit Timah GRC, suggested using\u00a0the vacant plots of land located next to Ulu Pandan\u00a0CC and the old Ghim Moh Primary School, as well as redeveloping the site of the old Raffles Junior College campus.\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i2.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2021\/02\/dover-forest-google-street-view.jpg?fit=820%2C410&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":123490,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/cdl-unit-to-acquire-upper-bukit-timah-site-for-126-3mil\/","url_meta":{"origin":118572,"position":2},"title":"CDL unit to acquire Upper Bukit Timah site for $126.3mil","date":"November 29, 2021","format":false,"excerpt":"\r The two adjoining sites are located at 798 and 800 Upper Bukit Timah Road and have an area of 16,620 sq m (178,900 sq ft). 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