1.5 million S'poreans to get up to $850 in August to cope with rising costs

About 1.5 million eligible adult Singaporeans will receive $450 or $850 in cash in August to help with their daily living expenses, the Ministry of Finance (MOF) said on July 4.

- Ang Qing

Those living in homes with annual values of up to $21,000 will get $850.

Those with homes with annual values of more than $21,000, and up to $25,000, will receive $450.

"This means that all eligible recipients will receive an additional $150 or $100, as compared to last year," said MOF.

The payments will be made to Singaporeans aged 21 and above who have an assessable income of up to $34,000 for the year of assessment 2023.

Those who own more than one property are not eligible for the payout.

About 650,000 Singapore citizens aged 65 and above will also have up to $450 credited to their Central Provident Fund MediSave accounts in August.