{"id":402809,"date":"2018-02-20T09:14:41","date_gmt":"2018-02-20T09:14:41","guid":{"rendered":"http:\/\/citifmonline.com\/?p=402809"},"modified":"2018-02-20T10:43:36","modified_gmt":"2018-02-20T10:43:36","slug":"singapore-pay-bonus-citizens-surplus-budget","status":"publish","type":"post","link":"https:\/\/citifmonline.com\/2018\/02\/singapore-pay-bonus-citizens-surplus-budget\/","title":{"rendered":"Singapore to pay bonus to all citizens after surplus budget"},"content":{"rendered":"<p>All Singapore citizens aged 21 and above will get a one-off \u201cSG Bonus\u201d of up to S$300 each as the 2017 budget came in with a surplus of almost S$10 billion (US $7.6 billion), the city-state\u2019s finance minister announced on Monday.<\/p>\n<p>Finance Minister Heng Swee Keat made the announcement during his budget speech in Parliament, describing the bonus as a \u201chongbao\u201d, the Mandarin word for a monetary gift given on special occasions.<\/p>\n<p>He said this \u201creflects the government\u2019s long-standing commitment to share of the fruits of Singapore\u2019s development with Singaporeans\u201d, according to Channel News Asia.<\/p>\n<p>The \u201cSG Bonus\u201d will cost the government S$700 million (US $533 million).<\/p>\n<p>The bonus will be paid according to people\u2019s assessable income. About 2.7 million people will get the payouts, which are due by the end of 2018.<\/p>\n<div id=\"zdt_display_placeholder_2949271\">Those with an income of S$28,000 or below will be eligible to receive S$300, those whose incomes ranging from S$28,001 to S$100,000 will receive S$200, and those with incomes in excess of S$100,000 will receive S$100.<\/div>\n<p>Singapore\u2019s revised budget for fiscal 2017 showed a surplus of S$9.61 billion, thanks to contributions from statutory boards and higher-than-expected stamp duty.<\/p>\n<p>The surplus will also be used in other ways. Heng said S$5 billion will be set aside for the Rail Infrastructure Fund to save up for new railway lines that Singapore is building.<\/p>\n<p>Another S$2 billion will be set aside for premium subsidies and other forms of support for Eldershield, an insurance scheme that helps senior citizens with severe disabilities to cope with the financial demands of their daily care.<\/p>\n<p>&#8211;<\/p>\n<p>Source: Hindustantimes<\/p>\n","protected":false},"excerpt":{"rendered":"<p>All Singapore citizens aged 21 and above will get a one-off \u201cSG Bonus\u201d of up to S$300 each as the 2017 budget came in with a surplus of almost S$10 billion (US $7.6 billion), the city-state\u2019s finance minister announced on Monday. Finance Minister Heng Swee Keat made the announcement during his budget speech in Parliament, [&hellip;]<\/p>\n","protected":false},"author":14,"featured_media":402813,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[107],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Singapore to pay bonus to all citizens after surplus budget - Citi 97.3 FM - Relevant Radio. 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