About 1.4 million Singaporeans will benefit from $570 million in goods and services tax (GST) vouchers next month, in the form of cash payouts and Medisave top-ups.
Eligible Singaporeans will receive text messages by tomorrow to inform them of their benefits, the Ministry of Finance (MOF) said yesterday. Some have received letters since yesterday.
Around 1.4 million Singaporeans will receive cash payouts of up to $300, credited directly into their bank accounts from Aug 1.
Those who have not provided their bank account numbers can do so at www.gstvoucher.gov.sg by July 22, and they will receive their payouts via bank transfer on Aug 1.
The rest will receive cheques sent to their official address by Aug 17.
MOF added that a small number of citizens who qualify for the benefits of the GST Voucher scheme have not signed up for the government payouts in the past. They will be invited to do so via SMS or letter before May 31 next year.
Singaporeans aged 21 and above whose assessable income for year of assessment 2019 did not exceed $28,000 will get $150 or $300, depending on their home's annual value as of Dec 31 last year.
Those who own more than one property are not eligible for GST vouchers.
About 545,000 Singaporeans aged 65 and above this year will also receive GST vouchers in the form of Medisave top-ups of up to $450 from Aug 1.
They will receive between $150 and $450, depending on their age and annual value of their home.
Cash payouts for GST vouchers will amount to around $410 million, while Medisave top-ups will total $160 million.
The GST Voucher scheme was introduced in 2012 to help lower-and middle-income Singaporeans offset some of their GST expenses.
The annual scheme comprises three components: cash, Medisave and U-Save.
The cash payout helps lower-income citizens with their immediate needs, and is paid every August.
Similarly, the Medisave top-ups paid every August help support Singaporeans aged 65 and above with their medical needs.
The U-Save vouchers provide lower-and middle-income Housing Board households with a rebate to offset their utility bills every January, April, July and October.
Eligible HDB households will receive double their regular U-Save vouchers this year, through a one-off special payment.
Eligible households with five or more members will get 21/2 times their regular U-Save rebate this year.
The U-Save payments - amounting to about $630 million - will benefit around 940,000 Singaporean households living in HDB flats.
In addition, around 940,000 households will also receive 11/2 months to 31/2 months of service and conservancy charges (S&CC) rebates between April this year and March next year, depending on their HDB flat type.
The S&CC rebates will be disbursed on a quarterly basis in April, July and October this year and January next year.
These rebates have been paid annually by the Government since 2013, in a bid to directly offset HDB households' S&CC payments.