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Parenting

2016 Budget and You

The 2016 Budget is out and we have consolidated the latest family-related information from Ministry of Finance (www.facebook.com/MOFsg).

  1. Fresh Start Housing Scheme

    Bringing the dream of a home closer. Families with young children and living in rental housing will soon be eligible
    – for a grant of up to $35,000 to own a 2-room flat,
    – with a shorter lease which will be more affordable for them, and
    – they will need to demonstrate effort, for example by staying employed and making sure their children attend school.
  2. New Child Development Account (CDA) First Step Grant

    There will be a new Child Development Account (CDA) First Step grant for all Singaporean children babies born from today. Parents will
     – automatically receive $3,000 in their child’s CDA, which they can use for their children’s healthcare and childcare needs,
     – also continue to receive dollar-for-dollar matching from the Government, up to the co-savings cap, and
    – enjoy doubled Medisave withdrawal limit (from $450 to $900) for pre-delivery medical expenses, with immediate effect.
  3.  KidSTART Pilot Initiative

A new pilot initiative, KidSTART, draws together government and community resources to
– better support parents who may need more support to give their children a good start in life,
– help these children receive appropriate learning, development and health support, and
– improve study approaches that work best in Singapore context.

 About 1,000 children are expected to benefit. This pilot is expected to cost more than $20 million.
MPM