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