Singapore Budget 2018: SG Bonus 'hongbao' of S$100, S$200 or S$300 for all citizens aged 21 and above, depending on income

Finance Minister Heng Swee Keat announced a one-off "SG Bonus" for all Singaporeans aged 21 and above, as a way to share some of this year's budget surplus with the nation.

Delivering the Budget 2018 speech in Parliament on Monday, Mr Heng said that all citizens aged 21 and above will get a "hongbao" of S$300, S$200 or S$100, depending on their annual income.

This SG Bonus will cost the government about S$700 million, and it "reflects the government's long-standing commitment to share the fruits of Singapore's development with Singaporeans".

For more Budget 2018 stories visit bt.sg/budget18