SG Bonus 2018: All That You Need To Know

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A total of 2.8 million Singaporeans will receive letters from 2 October 2018 onwards, informing them of their SG Bonus 2018 benefit. Read more here.

A total of 2.8 million Singaporeans will receive letters from 2 October 2018 onwards, informing them of their SG Bonus 2018 benefit. The information was released by the Ministry of Finance in a press release on 28 September 2018.

SG Bonus 2018: What you need to know

In Budget 2018, the Singapore Government had announced that it would be giving a one-off to all adult Singaporeans this year.

Here is what you need to know about SG Bonus 2018:

  • The SG Bonus will be paid out to citizens by December 2018.
  • Citizens may use their SingPass to view their SG Bonus benefit online at the SG Bonus website www.singaporebudget.gov.sg/sgbonus, which will be accessible from 2 October 2018 onwards.

Those who have registered their mobile numbers with SingPass will also receive SMS notifications.

  • Eligible citizens (those aged 21 and above as of 31 December 2018) will receive up to $300, depending on their Assessable Income (AI) for the Year of Assessment (YA) 2017.
src=https://sg admin.theasianparent.com/wp content/uploads/sites/12/2018/09/Bonus 2018 1 1.jpg SG Bonus 2018: All That You Need To Know

PHOTO: MOF

  • PayNow provides added convenience and privacy for citizens to receive money into their bank account via NRIC/FIN and/or mobile number, without having to disclose their bank account details to the sender.

The Government will be using PayNow as the payment mode for citizens who have registered their NRIC on PayNow as at 7 November 2018. 

Citizens are encouraged to register their NRIC on PayNow by 7 November 2018 to receive their SG Bonus earlier. Citizens may do so via their bank’s existing mobile banking application or Internet banking platform.

src=https://sg admin.theasianparent.com/wp content/uploads/sites/12/2018/09/bonus 2018 2 1.jpg SG Bonus 2018: All That You Need To Know

PHOTO: MOF

  • Citizens 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.

Citizens may log in to the SG Bonus website with their SingPass to check or update existing bank details. The bank account provided will also be used for other government payouts, such as GST Voucher – Cash, Workfare Income Supplement and Silver Support payouts. 

If you require more information, please contact 1800-2222-888 or email: [email protected].

(Source: MOF)

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