Budget 2021 Singapore: How much will I get?
In the flurry of CNY celebrations and gatherings, you may have missed the Budget 2021 speech which was given by Deputy Prime Minister Heng Swee Keat on Tuesday (Feb 16).
As Singapore’s Covid-19 cases remain relatively low compared to the rest of the world, Budget 2021 will shift from “containment to restructuring”, bearing the theme Emerging Stronger Together.
It all sounds very nice, but I’m sure you’re wondering which parts of Budget 2021 are relevant for you. In other words, what can you stand to benefit from Budget 2021’s initiatives? Gahmen giving money or not?!
Yes, don’t worry. The government has us in mind, especially if lower- and middle-income households, or those with children. In the $900 million Household Support Package, there will be five different schemes and initiatives that will directly benefit you, if you’re eligible.
GST Vouchers 2021 for lower income individuals: Up to $500
Lower-income Singaporeans who qualify for the $300 GST Voucher – Cash, which is paid every August, will receive an additional, one-off Cash Special Payment of $200 in June 2021. In total, that will be $500 in GST Vouchers. This sum is meant to help with daily living expenses.
Do note that in order to qualify, your assessable income must be lower than $28,000 in the financial year of $28,000. Additionally, the annual value of your home must be under $21,000. Individuals with more than one property do not qualify for GST vouchers, nor the Cash Special Payment.
|Singapore citizens aged 21 and above in 2021, with assessable income FY2020 up to $28,000||Annual value of home up to $13,000||Annual value of home $13,001 to $21,000|
|Cash Special Payment||$200||$200|
|Total in 2021||$500||$350|
Source: 2021 Budget Announcements
Unsure if you qualify? You can log in to Your 2021 GST Voucher to check. If you have received a previous payout, you do not need to do anything and will receive your GST Voucher automatically via PayNow. If you have not signed up previously, you can Sign Up online. Those with no PayNow will receive a cheque.
U-Save Rebates 2021: Up to $595 for FY2021
All eligible HDB households will receive an additional 50% of their regular GSTV — U-Save this year, through a one-off Special Payment. This will be credited in April 2021 and July 2021, together with their regular U-Save.
This amount of money is not in cold hard cash, but in rebates that will be credited to your HDB flat’s utilities account.
To be eligible, there must be at least one Singapore citizen owner or occupier if you own and live in your HDB flat, or are subletting it. Immediate family members living in the same flat must not own or have any interest in more than one property.
This is the payment schedule:
|April 2021||July 2021||October 2021||January 2022||Total (FY2021)|
|Regular||Special Payment||Regular||Special Payment||Regular||Special Payment|
|1R & 2R||$100||$100||$100||$100||$100||$95||$595|
Source: 2021 Budget Announcements
S&CC rebates 2021: Up to 3.5 months
image credit: unsplash
If you own an HDB flat in Singapore, you will know this term: Service and Conservancy Charges, or S&CC. It’s basically a fee that you pay town councils in Singapore, who organise things like lift cleaning, fumigation, and changing of lights in the corridors.
This fee ranges from $20 to as high as $79, depending on what flat type you live in and where. For a typical 4-room flat in Singapore, you would pay around $61.50 to $64.
Under Budget 2021 Household Support Package, S&CC rebates will be extended. It will be the same as Budget 2020.
|No. of months of S&CC Rebate in FY2021|
|HDB Flat Type||April 2021||July 2021||October 2021||January 2022||Total (FY2021)|
|1R & 2R||1||1||1||0.5||3.5|
|3R & 4R||1||0.5||0.5||0.5||2.5|
Budget 2021 CDC Vouchers: $100
To “thank Singaporeans” for their sense of solidarity, as well as encourage spending, Budget 2021 includes the issuance of Community Development Council (CDC) vouchers to everyone, worth $100, that can be used at participating heartland shops and hawker centres.
More details on this will be announced by the CDCs later.
Top-ups for children: $200
image credit: Unsplash
Budget 2021 will also be topping up your child’s education account, either the Edusave or Post-Secondary Education Account. Even babies will benefit from this through their Child Development Account.
The Edusave account can be used for approved fees and enrichment programmes or miscellaneous fees for autonomous government and government-aided schools.
Funds in the Post-Secondary Education Account (PSEA) can also be used to repay government education loans and financial schemes. It can be also used to pay for your own or your siblings’ approved programmes in our list of approved institutions.
Budget 2021 Singapore cash payout dates
- April 2021: U-Save Rebate (Regular and Special)
- May 2021: Top-up to Edusave / Post-Secondary Education Account ($200)
- June 2021: GST Voucher – Cash Special Payment ($200)
- July 2021: U-Save Rebate (Regular and Special)
- August 2021: GST Voucher – Cash (Regular) ($300)
- September 2021: Top-up to CDA Account ($200)
- October 2021: U-Save Rebate (Regular)
- January 2022: U-Save Rebate (Special)
- TBC: CDC vouchers
Other initiatives and schemes in Budget 2021
- Job Support Scheme (JSS) to be extended for sectors that continue to be hard-hit by the pandemic (e.g. aviation, hospitality, aerospace)
- Salary enhancements for nurses and other healthcare workers
- Increase in petrol duty rates and lower fees for electric cars to encourage transition
- GST hike to be postponed to between 2022 and 2025
- GST to apply to imported low-value goods — all your online shopping! — from Jan 1, 2023
So there you have it! If you find this information useful, pass it on.
Or if you have no need for these money why not donate and volunteer at these places base on your personality trait