Review of Residential Properties Annual Values (AV), and Impact on Social Support Schemes02 Mar 2023
Parliamentary Question by Mr Yip Hon Weng:
To ask the Deputy Prime Minister and Minister for Finance with the revision of Annual Values (AV) of most residential properties in 2023 (a) what are the communication plans to seniors that social support schemes will not be affected by this revision, as AVs as of 2022 will be used to determine scheme eligibility in 2023; and (b) what are the plans for scheme eligibility for 2024.
Parliamentary Reply by Senior Minister of State fo Finance, Mr Chee Hong Tat:
MOF had earlier issued a media statement to explain that the criteria for the government’s social support schemes in 2023 will not be affected by the latest AV revision, as the AVs as of 2022 are used to determine scheme eligibility. We are also working with the Silver Generation Office (SGO) to engage seniors and provide them this assurance.
For many of our social support schemes, no application is required and Singaporeans receive the support automatically as long as they are eligible. These include the cash payments and MediSave top-ups under the GST Voucher scheme and the Assurance Package.
The Government regularly reviews our social support schemes, including the AV thresholds, to ensure that Singaporeans in need of support receive it.