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S$1.3 billion in GST voucher payments to be disbursed from June

S$1.3 billion in GST voucher payments to be disbursed from June

File photo of a block of HDB flats in Singapore. (Photo: Calvin Oh)

SINGAPORE: S$1.3 billion worth of GST voucher payments will be disbursed from June, benefiting about 1.4 million Singaporeans and 950,000 households, the Ministry of Finance (MOF) said on Tuesday (Jun 1).

The vouchers combine regular payments as well as one-off payments that are part of the S$900 million Household Support Package introduced to help families during this period of uncertainty amid COVID-19.

Lower- to middle-income families are set to receive more support from the package, which was announced at Budget 2021 in February.

FOR INDIVIDUAL CITIZENS

About 1.4 million citizens will receive up to S$500 in GST vouchers this year. This comprises a one-off GST Voucher - Cash Special Payment of S$200 and a regular GST Voucher - Cash payment of up to S$300.

The one-off payment and regular payment will be credited directly to citizens' bank accounts from Jun 23 and Jul 30 respectively, if they have linked their NRIC to their PayNow accounts.

Those who have not done so but have given their bank account number to the Government will receive the payments via bank transfers at a later date. Others will receive the payments via cheques sent to their registered address.

The GST Voucher - Cash Special Payment will cost the Government about S$280 million, while the GST Voucher - Cash payment will amount to about S$405 million.

About 575,000 citizens aged 65 and above this year will also receive MediSave top-ups of up to S$450 each from Jul 30. These top-ups will total about S$170 million.

READ: Support measures more than offset GST payable by bottom 20% of households: Lawrence Wong

READ: What you need to know about Budget 2021

FOR HOUSEHOLDS

About 950,000 Singaporean households living in public housing will receive their quarterly GST Voucher - U-Save rebates in July.

The households will also receive an additional 50 per cent rebate through a one-off GST Voucher - U-Save Special Payment.

In total, a household can expect to receive between S$355 and S$595 in rebates in financial year 2021, depending on the flat type.

This means that households living in one- or two-room flats will receive support equivalent to about four-and-a-half to six months' worth of utility bills, said MOF.

For households in three- and four-room flats, the support will amount to about one-and-a-half to three months' worth of utility bills.

In total, the GST Voucher - U-Save and GST Voucher - U-Save Special Payment rebates will cost the Government about S$460 million.

Other government payments that eligible citizens can expect to receive later this year include the Five-Year MediSave Top-up scheme, grocery vouchers and top-ups to children's education accounts, said MOF.

Households can also expect to receive rebates on service and conservancy charges and Community Development Council vouchers. 

Source: CNA/dv(ta)

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