budget 2023 when and how much money

Budget 2023 – How Much You Will Receive And When

Finance Minister Lawrence Wong announced the 2023 Budget on 14 February 2023. I have summarized how much and when we will receive the various disbursements.

For full details, please visit the Budget 2023 site.

Summary Of Cash & Non-Cash Payments In 2023

Months Of 2023 Type Of Disbursement Amount
JAN CDC Voucher $300 Cash Vouchers
U-Save Rebates $110 – $190
S&CC Rebates 0.5 Month
FEB AP Seniors’ Bonus $200 – $300 Cash
AP Medisave Top-up $150
APR U-Save Rebates $110 – $190
S&CC Rebates 0.5 – 1 Month
MAY Edusave & PSEA Top-up $300 Top-up
JUN COL Special Payment $200 – $400 Cash
COL Seniors’ Bonus $200 – $300 Cash
JUL U-Save Rebates $110 – $190
S&CC Rebates 0.5 – 1 Month
AUG GST Voucher $350 – $700 Cash
Medisave Top-up $150 – $450
SEP CDA Top-up $400
OCT U-Save Rebates $110 – $190
S&CC Rebates 0.5 – 1 Month
DEC AP Cash Payout $200 – $600 Cash

I have highlighted Cash and Cash Vouchers for easy reference.

SuppportGoWhere Calculator

If you want to have a customized view of how much you will receive this year and in future years, you can check out SupportGoWhere’s calculator.

You will need the following information.

  • Year of birth
  • Recent assessable income
  • Own more than 1 property?
  • Property owned or rented?
  • Housing type

You can also add your household members’ details (optional) to see the overall grants received by your entire household.

Filling in the details is very straightforward but if you need help, Seedly has a step-by-step guide.

Cash & Equivalent Payments

GST Voucher

Singaporeans Aged >=21 with AI of $34,000 and Below Owns 0 – 1 Property
Annual Value of Property
AV ≤ $13,000 $13,000 < AV ≤ $21,000
Announced at Budget 2022 $500 $250
Announced at Budget 2023 +$200 +$100
Total Paid On August 2023 $700 $350
Announced at Budget 2023 $850 $450
Total Paid On August 2024 $850 $450

Eligible Singaporeans will receive these cash payouts in August 2023 and August 2024.

Assurance Package Cash Payout

Sgreans

Aged >=21

In Reference Year

Owns 0 – 1 Property Owns > 1 Property
Assessable Income
AI ≤ $34K $34K <AI ≤ $100K AI > $100K
Announced at Budget 2022 $400 $250 $200 $200
Announced at Budget 2023 +$200 +$100
Total Paid On 2023 $600 $350 $200 $200
Announced at Budget 2022 $400 $250 $200 $200
Announced at Budget 2023 +$200 +$100
Total Paid On 2024 $600 $350 $200 $200
Announced at Budget 2022 $400 $250 $100 $100
Announced at Budget 2023 +$200 +$100
Total Paid On 2025 $600 $350 $100 $100
Announced at Budget 2022 $200 $150 $100 $100
Announced at Budget 2023 +$50
Total Paid On 2026 $250 $150 $100 $100

Eligible Singaporeans will receive these cash payouts in December 2023, December 2024, December 2025 and December 2026.

Assurance Package Seniors’ Bonus

Owns 0 to 1 Property
AI ≤$ 34,000
AV of Property AV ≤ $13,000 $13,000 < AV ≤ $21,000
Age of Singaporean

In Payment Year

55 – 64 >=65 >=55
2023 $250 $300 $200
2024 $250 $300 $200
2025 $250 $300 $200

Eligible senior Singapore citizens will receive these cash payouts in February 2023, February 2024 and February 2025.

2023 Cost Of Living Special Payment

Singaporeans Aged 21 Years and Above in 2023
Assessable Income (AI) Owns 0 to 1 Property Owns More Than 1 Property
AI ≤ $22,000 $400 Not Eligible
$22,000 < AI ≤ $34,000 $300
$34,000 < AI ≤ $100,000 $200
AI > $100,000 Not Eligible

Eligible Singaporeans will receive these cash payouts in June 2023.

2023 Cost Of Living Seniors’ Bonus

Age of Singaporean in 2023 Owns 0 to 1 Property
AI ≤ $34,000
AV ≤ $13,000 $13,000 < AV ≤ $21,000
55 – 64 $250 $200
>=65 $300 $200

Eligible Senior Singaporeans will receive these cash payouts in June 2023.

CDC Vouchers

Every Singaporean Household
Announced at Budget 2022 $200
Announced in October 2022 +$100
Total Paid On 2023 $300
Announced at Budget 2022 $200
Announced at Budget 2023 +$100
Total Paid On 2023 $300

Eligible Singaporean households will receive these CDC vouchers in January 2023 and January 2024.

U-Save Rebates

Singaporean Households In HDB Flats Whose Household Members Do Not Own >1 Property
HDB Type JAN’23 APR’23 JUL’23 OCT’23
1 & 2 $190 $190 $190 $190
3 $170 $170 $170 $170
4 $150 $150 $150 $150
5 $130 $130 $130 $130
Ex/MG $110 $110 $110 $110

This includes both the regular U-Save and 2023 COL U-Save Special Payment. The U-Save rebates will be credited directly to the eligible household’s utility bill on January 2023, April 2023, July 2023 and October 2023.

S&CC Rebates

HDB Type Number of Months of S&CC Rebate
JAN’23 APR’23 JUL’23 OCT’23
1 & 2 0.5 1 1 1
3 & 4 0.5 1 0.5 0.5
5 0.5 0.5 0.5 0.5
Ex/MG 0.5 0.5 0.5

Households with no Singapore citizen flat owner or occupier in the flat, whose flat owner(s) or essential occupier(s) own or have any interest in a private property, or have rented out the entire flat, are not eligible for the S&CC Rebate.

S&CC rebates will be used directly to offset eligible households’ S&CC bills for the corresponding month on January 2023, April 2023, July 2023 and October 2023.

Non-Cash Payments

GST CPF MA Top-Ups

Age of Singaporean in 2023 Owns 0 – 1 Property
Annual Value of Property
AV ≤ $13,000 $13,000 < AV ≤ $21,000
65 – 74 $250 $150
75 – 84 $350 $250
> 85 $450 $350

Eligible senior Singapore citizens will receive the CPF MA top-ups in August 2023.

Assurance Package MA Top-Ups

Age Of Singaporean In

Disbursement Year

=<20 >=55
2023 $150
2023 $150
2025 $150

Eligible Singapore citizens will receive the CPF MA top-ups in February 2023, February 2024 and February 2025.

CDA, Edusave & PSEA Top-Ups

Age of Singaporean in 2023 Date Of Birth Account Amt
0 – 6 1/1/17 – 31/12/23 CDA $400
7 – 16 1/1/07 – 31/12/16 Edusave $300
17 – 20 1/1/03 – 31/12/06 PSEA $300

Eligible Singaporeans will receive their top-ups to CDA from September 2023 onwards.

Eligible Singaporeans will receive their top-ups to Edusave and PSEA in May 2023.

_______________________________

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4 thoughts on “Budget 2023 – How Much You Will Receive And When”

    1. Hi Zareena,

      If you scroll down to the sections on senior payouts, you will be able to see the different ages that will apply to the two senior payouts.

      I am unable to include into the summary due to the lack of space.

  1. M aged 75. Dont own or rent property. Stay with relatives. Income less than monthly $1500. What are my senior payouts in 2023
    K P Toh

    1. Hi Mr Toh,

      You should receive the following

      FEB23 – AP senior bonus – $300
      JUN23 – COL senior bonus – $300
      JUN23 – COL special payment – $400
      AUG23 – GST voucher – $700
      DEC23 – AP – $600
      TOTAL – $2,300 CASH

      FEB23 – AP MEDISAVE – $150
      AUG23 – MEDISAVE – $350
      TOTAL – $500 MEDISAVE TOP UP

      For the most accurate information, please visit the website below and fill in your info.

      https://supportgowhere.life.gov.sg/budget/support-calculator

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