PM Wong announces S$600 SG60 vouchers, tax rebates, and more as Budget 2025 goodies for Singaporeans

SINGAPORE: Prime Minister Lawrence Wong has announced a slew of goodies in Budget 2025 to mark Singapore’s 60th anniversary. Among the key highlights is the introduction of SG60 vouchers, which will provide a one-time cash benefit to three million Singaporeans.

Speaking in his Budget 2025 speech, Wong revealed that Singaporeans aged between 21 and 59 this year will receive a S$600 handout in the form of SG60 vouchers, while seniors aged 60 and above will get S$800.

These vouchers, which aim to recognise the contributions of Singaporeans and share the benefits of the nation’s progress, will be disbursed in July.

According to the Ministry of Finance, seniors will be able to claim the vouchers first, followed by other adults.

Wong, who also serves as Finance Minister, noted that these vouchers will function similarly to CDC vouchers. Recipients can claim them digitally via RedeemSG using Singpass. The vouchers can be used at all businesses that accept CDC vouchers, with half designated for participating supermarkets and the remainder for heartland merchants and hawkers. The total cost of the SG60 vouchers to the Government is estimated at S$2.02 billion. In addition to the SG60 vouchers, Singaporean households will receive a fresh tranche of S$800 in CDC vouchers in May 2025 and January 2026. This initiative, estimated to cost the Government S$1.06 billion, brings the total financial support for individuals and households in the coming financial year to over S$3 billion.

Recognising Contributions and Strengthening Unity

Wong highlighted that Singaporeans across different generations and backgrounds have played a vital role in shaping the country over the past six decades. He emphasised the nation’s progress and the importance of fostering a strong Singaporean identity built on shared experiences, aspirations, and resilience. “We look out for one another, cheer each other on, and help our fellow citizens succeed together,” he said. Beyond direct financial support, Budget 2025 also includes measures aimed at reinforcing social cohesion. All tax-paying resident individuals will receive a 60 per cent rebate on personal income tax for income earned in 2024, capped at S$200. Wong noted that this measure will primarily benefit middle-income workers. Additionally, as part of SG60 initiatives, Singaporeans born in 2024 will receive the SG60 baby gift. The full details of this scheme will be revealed when the Prime Minister’s Office presents its budget for the next financial year.

Encouraging Arts, Heritage, and Sports Participation

To promote greater cultural engagement, every Singaporean aged 18 and above will receive S$100 in SG Culture Pass credits, which can be used to purchase tickets for local performances, exhibitions, learning tours, and participatory workshops. These credits will be available from 1 September 2025 and will be valid until the end of 2028. Wong stressed the importance of cultural cohesion, warning against the erosion of trust and growing societal divisions seen in other nations. He urged Singaporeans to cherish and safeguard their unity. Hawker culture, a key aspect of Singapore’s heritage, is also set to receive support. Every hawker stall in centres managed by the Government or government-appointed operators will receive a one-time S$600 rental relief. This initiative, which commemorates the fifth anniversary of hawker culture’s inscription on UNESCO’s Representative List of Intangible Cultural Heritage of Humanity, comes in addition to the up to S$1 billion allocated over the next 20 to 30 years for upgrading and building hawker centres. More details on this will be provided when the Ministry for Sustainability and the Environment presents its budget. Finally, to encourage sports participation, all Singaporean citizens and permanent residents will receive a one-off S$100 top-up in ActiveSG credits in June 2025. Wong also announced that new sports facilities will be built in Toa Payoh, Punggol, and Clementi, while existing facilities in Pasir Ris, Queenstown, and Hougang will undergo upgrades.

Moving Forward Together

Wong reiterated that Singapore’s solidarity has been a cornerstone of the nation’s success. Reflecting on past challenges, including the Covid-19 pandemic, he called on Singaporeans to continue supporting one another and advancing as a united people. “Our solidarity has seen us through many challenges, including our fight against Covid-19. We must continue to help our fellow citizens and ensure that we move forward together, as a people and a nation,” he said.