Budget 2014: 675,000 S'poreans to receive GST Voucher of up to S$250
- POSTED: 21 Feb 2014 18:28
About 675,000 Singaporeans aged 55 and above will receive a one-off Goods and Services Tax (GST) Voucher of up to S$250.
SINGAPORE: About 675,000 Singaporeans aged 55 and above will receive a one-off Goods and Services Tax (GST) Voucher of up to S$250.
Those with assessable income of up to S$26,000 in 2013 will receive S$250 if the annual value of their home is up to S$13,000, or S$100 if the annual value of their home is from S$13,001 to S$21,000.
Deputy Prime Minister and Finance Minister Tharman Shanmugaratnam said this is a special GST Voucher that will effectively double the GST Voucher - Cash that they usually receive.
Mr Tharman said older Singaporeans are broadly most affected by increase in cost of living, especially retirees with little or no income.
Approximately 800,000 HDB households will also receive a one-off GST Voucher - U-Save Special Payment, which will also be paid out on top of the regular GST Voucher - U-Save payments.
The amount they will get depends on the type of flat they live in - from S$260 for one-room flat dwellers to S$90 for those living in executive flats.
170,000 Singaporeans who are supporting their parents can enjoy further tax relief in YA2015.
Currently, the relief can only be claimed by one child, but this will be changed to allow sharing of parent relief.
For those living with their parents, parent relief increases from S$7,000 to S$9,000
Parent relief will increase from S$4,500 to S$5,500 for those who do not live with their parents.
Relief will increase from S$11,000 to S$14,000 for those living with a handicapped parent.
For Singaporeans with a handicapped parent but are not living with them, parent relief will increase from S$8,000 to S$10,000.