1.5 million Singaporeans to receive up to $700 in GST vouchers in August, Latest Singapore News - The New Paper
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1.5 million Singaporeans to receive up to $700 in GST vouchers in August

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Some 1.5 million Singaporeans will receive up to $700 in cash next month, as part of a $1.5 billion package to help them cope with higher inflation, said the Ministry of Finance (MOF) on Tuesday (July 12).

The payment was announced by Deputy Prime Minister Lawrence Wong last month, with the Government's Goods and Services Tax Voucher (GSTV) scheme being expanded upon with an additional GSTV - Cash Special Payment.

As such, eligible Singaporeans will receive two payments - one through the GSTV - Cash and the other through the GSTV - Cash Special Payment.

About 575,000 Singaporeans, who are aged 65 and above this year, will also receive up to $450 in their Central Provident Fund (CPF) MediSave accounts as part of the GSTV scheme.

Those born on or before December 31, 1969 and not already receiving Pioneer Generation or Merdeka Generation benefits will also have $100 credited into their MediSave accounts by the end of next month .

MOF said the payments are part of the Government's continuing support for those from lower-income backgrounds, as well as the elderly, to help defray their GST expenses and costs of living.

It noted that eligible Singaporeans would have already received Community Development Council (CDC) vouchers, two GSTV - U-Save and GSTV - service and conservancy (S&CC) rebates, as well as top-ups to Edusave or Post-Secondary Education Accounts (PSEA) earlier this year.

"They can expect further support in the form of cash payouts, utilities credits, top-ups to Child Development Accounts (CDA), and another two tranches of U-Save and S&CC rebates in the coming months," said the ministry.

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