Singapore
SINGLES who buy a resale public housing flat to live near their parents will now receive S$10,000 under the enhanced Proximity Housing Grant (PHG) scheme.
The one-time grant is currently given only to singles who buy a resale flat to live with their parents. Under the enhanced PHG, the grant for this category of singles is now increased to S$15,000.
For families buying a resale flat to live with parents or children, the PHG grant is also raised from S$20,000 to S$30,000.
Those who buy a resale flat to live near parents or children will continue to receive S$20,000.
Under the enhanced PHG, the definition of "near" is revised to simply "within 4km". Currently, it is defined as living in the same town or within 2km.
All these enhancements, which will cost an additional S$80 million, take effect immediately.
The PHG has been introduced to help more families buy a resale flat to live with, or live close to, one another for mutual care and support.
HIGHLIGHTS
- Singles who buy a resale HDB flat to live with parents will receive S$15,000
- Singles who buy a resale HDB flat to live near parents will recieve S$10,000
- Families who buy a resale HDB flat to live with parents of children will recieve S$30,000
- The definition of "near" under the Proximity Housing Grant is extended to "within 4km"
READ MORE:
- Budget 2018: S$700m bonus; and some delayed pain for long-term gain
- One for the long haul: Ensuring a sustainable fiscal future
- Building a sustainable foundation
- GST up 2 points to 9% - but only from 2021-2025
- Impact of buyer's stamp duty hike to be felt most for big-ticket purchases
- 'Netflix tax' from 2020 for a new revenue stream
- Singapore's carbon tax to start at S$5 a tonne
- Reit ETFs to enjoy tax transparency
- Startups unfazed by lower tax exemptions
- Measures to bolster R&D and IP tax regime are heartening
- Innovation, R&D to get shot in the arm
- OIC will accelerate innovation and digital transformation
- Tackling challenges of next decade
- Businesses to get S$1.8b boost over next 3 years
- Working together for the collective good
- New Infrastructure Office for projects in Asia
- Calibrated approach to future-proof Singapore's plan for sustainable future
- Govt could provide guarantees on borrowings
- Big surplus, lower spending, one-off bonus for Singaporeans
- Ministries to spend S$80 billion
- Massive surplus in FY17, slight deficit for FY18
- S$550m increase in spending on health and social services
- S$190m yearly to boost philanthropy
- Maid levy to go up from April 2019