Most of us would have felt the pinch in our wallets from rising inflation. For the average Singaporean household, the cost of living has increased with the increase in prices of everyday items, including chicken rice.
Thankfully as Singaporeans, we would have also received support from the government to ease the effect of inflation. According to Prime Minister Lee Hsien Loong’s National Day Rally (NDR) speech, this is to the tune of $3,700 for families living in 3-room HDB flats and $2,200 for families living in 4-room HDB flats. While this sounds like a substantial amount, some of us may be wondering how this amount comes about when we don’t see it entering our bank accounts.
Read Also: National Day Rally 2022: 4 Highlights That May Financially Impact Certain Groups Of People
What Forms The Average Singaporean Family Receiving The Grants?
As iterated in NDR, in “this financial (fiscal) year alone, a middle-income family with two young children, staying in a 4-room HDB flat, can expect an additional $2,200 in support. A lower-income family staying in a 3-room HDB flat … can expect even more, about $3,700.”
This amount comprises cash payouts, U-Save rebates, S&CC rebates, CDC vouchers, and MediSave top-ups and more.
Based on the cut-off criteria for GST Voucher-Cash, we can infer that the lower-income family would be earning less than $34,000 for each working adult, and do not own any other property aside from their 3-room HDB flat.
Note: Under the GST Voucher scheme, Singaporeans must be aged 21 and above in 2022 with an annual assessable income of not more than $34,000, living in a home with an Annual Value of not more than $21,000 and not owning more than one property to qualify for GST Voucher – Cash.
Here’s how the $3,700 for 3-room HDB flat dwellers and $2,200 for 4-room HDB flat dwellers come about.
Read Also: Household Support Package & GST Voucher 2022: How Much Will Your Family Be Getting (And When)
How Can A Family With Two Young Children Living In 3-Room HDB Flat Receive Up To $3,700?
Source: Lee Hsien Loong’s Facebook page
The case study family mentioned in the NDR is a lower-income family with 2 young children living in a 3-room flat. This would likely mean that they qualify for the GST Voucher-Cash payouts, which has an income cap of $34,000 for income earned in 2020.
Support For Individuals: As the residence is a 3-room HDB flat which has an AV of less than $13,000, the adults would qualify for the maximum GSTV-Cash amount of $400, if they met the income criteria. Additionally, under the $1.5 billion support package announced in June, there is also a GSTV-Cash Special Payment of $300 which the adults will qualify for.
Additionally, all Singaporeans aged 21 and above will receive Assurance Package (AP) cash payouts. The two adults would qualify for $200 each.
Support For Households: As a household living in a 3-room HDB flat, the family will also receive $680 in GST U-Save, 2.5 months of S&CC rebates (or about $115), $200 CDC Vouchers and $100 of Household Utilities credit.
Support For Children: The 2 children will receive $200 each to their CDA, Edusave or PSEA accounts under the Household Support Package and $150 each to their MediSave accounts under the Assurance Package.
| Support | 2 Adults And 2 Children |
| GSTV-Cash | $400 (GSTV-Cash) + $300 (GSTV-Cash Special Payment) = $700 x 2 adults = $1,400 |
| AP Cash payouts | $200 x 2 = $400 |
| GSTV U-Save | $680 for FY2022 |
| GSTV S&CC | 2.5 months or about $115 (based on S&CC of $46 for 3-room flat) |
| CDC Vouchers | $300 ($100 in May and $200 in January 2023) |
| Utilities | $100 |
| Education (CDA, Edusave or PSEA) | $200 x 2 children = $400 |
| AP MediSave top-ups | $150 x 2 children = $300 |
| Total | $3,695 |
Support For Senior(s): If there are seniors in the household, they would be eligible for Medisave top-ups, Assurance Package cash payouts and additional GSTV-Cash payouts (if they meet the income criteria).
As the payouts for GST-MediSave depends on the age of the senior, the actual amount received will differ:
Source: GST Voucher – MediSave
How Can A Family With Two Young Children Living In 4-Room HDB Flat Receive Up To $2,200?
Source: Lee Hsien Loong’s Facebook page
The case study family with two young children living in a 4-room HDB flat is expected to receive $2,200.
Support For Individuals: As this is a middle-income household, it is likely that both adults would not qualify for GSTV-Cash. However, they would still receive the $150 each for 2 adults under the Assurance Package cash payouts, if they earn between $34,000 to $100,000 in assessable income.
Support For Households: As a household, the family will also receive $600 in GST U-Save, 2.5 months of S&CC rebates (or about $160), $200 CDC Vouchers and $100 of Household Utilities credit.
Support For Children: The 2 children will receive $200 each to their CDA, Edusave or PSEA accounts under the Household Support Package and $150 each to their MediSave accounts under the Assurance Package.
| Support | 2 Adults And 2 Children |
| GSTV-Cash | N.A. |
| AP Cash payouts | $150 x 2 = $300 |
| GSTV U-Save | $600 for FY2022 |
| GSTV S&CC | 2.5 months or about $160 (based on S&CC of $64 for 4-room flat) |
| CDC Vouchers | $300 ($100 in May and $200 in January 2023) |
| Utilities | $100 |
| Education (CDA, Edusave or PSEA) | $200 x 2 children = $400 |
| AP MediSave top-ups | $150 x 2 children = $300 |
| Total | $2,160 |
Support For Senior(s): If there are seniors in the household, they would be eligible for Medisave top-ups, Assurance Package cash payouts and additional GSTV-Cash payouts (if they meet the income criteria).
Read Also: Assurance Package For GST: How Much Will Singaporean Households Be Getting Over The Next 5 Years?
When Will Households Receive The Support And Payouts?
According to the graphic shared during PM Lee’s NDR speech in Chinese, households can expect to receive some form of support for three-quarters of the year with only June, November and March not having any disbursements.
| Month | Support Scheme | Amount For Family Living In 3-Room | Amount For Family Living In 4-Room |
| April 2022 | U-Save | $170 (Regular + Household Support Package) | $150 (Regular + Household Support Package) |
| S&CC | $46 (1 month) | $64 (1 month) | |
| May | CDC-V | $100 | $100 |
| July | U-Save | $170 (Regular + Household Support Package) | $150 (Regular + Household Support Package) |
| S&CC | $23 (0.5 month) | $32 (0.5 month) | |
| August | Cash | $1,400 (GSTV Regular and Special Payment $700 x 2 adults) | N.A. |
| September | Education | $400 ($200 x 2 children) | $400 ($200 x 2 children) |
| Utility | $100 | $100 | |
| October | U-Save | $170 (Regular + Household Support Package) | $150 (Regular + Household Support Package) |
| S&CC | $23 (0.5 month) | $32 (0.5 month) | |
| December | Cash | $400 (Assurance Package $200 x 2 adults) | $300 (Assurance Package $150 x 2 adults) |
| January 2023 | U-Save | $170 (Regular + Assurance Package) | $150 (Regular + Household Support Package) |
| S&CC | $23 (0.5 month) | $32 (0.5 month) | |
| CDC-V | $200 | $200 | |
| February | MediSave | $300 ($150 x 2 children) | $300 ($150 x 2 children) |
| Total | $3,695 | $2,160 |
The post How Is The Average Singaporean Family Getting $3,700 (3-Room) Or $2,200 (4-Room) In Government Support In 2022? appeared first on DollarsAndSense.sg.
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