1.4m Singaporeans to get GST vouchers worth $570m in August
Close to 1.4 million Singaporeans will get help to offset their expenses next month through goods and services tax (GST) vouchers amounting to $570 million.
Among them, nine in 10 will receive the benefits automatically, the Ministry of Finance (MOF) said yesterday.
Singaporeans aged 21 and above with an assessable income not exceeding $28,000 in 2019 are eligible for GST cash payouts of either $150 or $300, depending on the annual value of their home.
Those who own more than one property are not eligible for the cash payouts, totalling about $410 million, which will be disbursed directly into their bank accounts from Aug 1.
About 545,000 Singaporeans aged 65 and above will also get a Medisave top-up of up to $450 each from Aug 1.
The exact amount they receive in Medisave top-ups, which amount to about $160 million, depends on their age and the annual value of their home.
Eligible Singaporeans will be notified of the benefits via SMS or letters.
To verify the authenticity of the SMS notification, citizens can check that it is sent by "GSTV". The ministry added that those who have yet to provide their bank account numbers can do so at www.gstvoucher.gov.sg by July 22 to receive the payouts via bank transfer, while the rest will receive cheques sent to their official address by Aug 17.
Singaporeans can also logon to the website with their SingPass to view their GST cash voucher and Medisave benefits.
There is a small number of Singaporeans who qualify for the GST voucher scheme but have not signed up for government payouts in the past, MOF added.
They will be invited via SMS or letters to sign up on the website before the deadline of May 31 next year.
The GST voucher scheme, which helps lower- and middle-income Singaporeans to offset their GST expenses, comprises three components: Cash, MediSave, and U-Save.
Since the scheme's introduction in 2012, GST voucher benefits have been disbursed to eligible Singaporeans every August.