The Assurance Package (AP) is a comprehensive initiative by the Singaporean government to provide financial support to its citizens. Designed to alleviate the cost of living and support those in need. This article will focus on the Assurance Package 2024 payout date.
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Assurance Package 2024 Payout Date and Payment Details
The Assurance Package 2024 payout date is set for December 2024. Eligible Singaporeans aged 21 years and above can expect to receive their AP Cash Payment based on their assessable income and property ownership status.
AP Cash Payment
AP Cash Payment is a recurring annual payment provided over five years (2022 to 2026) to help Singaporeans manage their living expenses. The amount varies based on the individual’s assessable income and property ownership.
Breakdown of AP Cash Payment for December 2024:
Singaporeans with 0 to 1 property:
- Assessable Income up to $34,000: $600
- Assessable Income more than $34,000, up to $100,000: $350
- Assessable Income more than $100,000: $200
Singaporeans with more than 1 property:
- All income levels: $200
Eligibility Criteria for Assurance Package 2024
To qualify for the AP Cash Payment and AP Cash Special Payment, you must meet the following criteria:
- Citizenship and Residency: You must be a Singaporean citizen residing in Singapore.
- Age: You must be aged 21 years and above in 2024.
- Assessable Income: Your assessable income for the Year of Assessment 2023 must not exceed $100,000 for the AP Cash Special Payment.
Summary of AP Cash Payments Over Five Years
The AP Cash payments are disbursed over five years, from 2022 to 2026, with amounts varying each year:
- 2023: December 2022 payout ranging from $100 to $200
- 2024: December 2023 payout ranging from $200 to $600
- 2025: December 2024 payout ranging from $200 to $600
- 2026: December 2025 payout ranging from $100 to $600
- 2027: December 2026 payout ranging from $100 to $250
The total AP Cash payments over this period will range from $700 to $2,250, depending on income and property ownership.
Conclusion
The Assurance Package 2024 payout date in December 2024 is a significant financial support initiative for eligible Singaporeans. By understanding the payment details and eligibility criteria, you can better prepare to receive the financial assistance provided by the government.
