2.8 million Singaporeans to receive letters from Oct 2 about SG Bonus totalling $700m

SINGAPORE - Adult Singaporeans who are eligible for a one-off SG Bonus of up to $300 will be informed of their payout amount in a letter from next Tuesday (Oct 2).

The Government will be disbursing $700 million to the 2.8 million eligible Singaporeans by December, the Ministry of Finance said in a statement on Friday.

Citizens can use their SingPass to view their SG Bonus benefit online at the SG Bonus website, which will be accessible from next Tuesday.

Those who have registered their mobile numbers with SingPass will also receive SMS notifications, the statement said.

Finance Minister Heng Swee Keat said at this year's Budget that the bonus comes with an expected overall budget surplus of $9.6 billion, or 2.1 per cent of GDP, for the 2017 financial year.

The surplus was markedly higher than the $1.9 billion forecast a year ago, mainly because of exceptional statutory board contributions of $4.6 billion.

[embed]https://www.facebook.com/MOFsg/videos/2198700817123648/[/embed]

The SG Bonus will be given on top of the Goods and Services Tax voucher scheme and Service and Conservancy Charges rebate for eligible Singaporeans.

This move reflects the Government's longstanding commitment to share the fruits of the country's development with Singaporeans, MOF said in its statement.

Singaporeans who are 21 years old and above on Dec 31 will receive up to $300, depending on their income.

Those with an assessable income of $28,000 and below in 2017 will get $300; $200 goes to people earning $28,001 to $100,000; and $100 for those earning more than $100,000 or who own more than one property.

Most Singaporeans will automatically receive their SG Bonus if they have previously signed up for other government payout schemes, such as the growth dividends and GST voucher.

The remaining citizens who have not signed up yet will be informed of how to do so in their letters.

This group will have until March 31 next year to sign up online, or through a hard-copy form available at community clubs and Central Provident Fund Board service centres.

Those who sign up by Nov 7 will receive their SG Bonus by December 2018.

Singaporeans will also have the option of receiving the payout via PayNow.

This will allow them to receive the money into their bank account using their NRIC/FIN or mobile number, without having to disclose their bank account details.

[embed]https://www.facebook.com/TheStraitsTimes/videos/10155121109812115/?t=0[/embed]

The Government will be using PayNow as the payment mode for citizens who have registered their NRIC on PayNow by Nov 7.

They will be able to receive their SG Bonus earlier, by Nov 30, if they do so.

Others who choose not to register their NRIC on PayNow will continue to receive their SG Bonus via existing payment modes of direct bank crediting or cheques.

MOF said in the statement that it has received some feedback from Singaporeans who would like to donate their SG Bonus to needy citizens.

These Singaporeans will now be able to do so via the SG Bonus website or the SG Cares mobile application.

More details on the SG Bonus can be found at www.singaporebudget.gov.sg/sgbonus, while information on other benefits announced at Budget 2018 are available at www.singaporebudget.gov.sg.

The public can e-mail contactus@govtopup.gov.sg or call 1800-2222-888 for more information.

This article was first published in The Straits Times. Permission required for reproduction.