About 1.4 million Singaporeans will benefit from $570 million in goods and services tax (GST) vouchers in cash and Medisave top-ups in August.
Those eligible will receive cash payouts of up to $300, credited directly into their bank accounts from August 1.
They will be notified via text messages or letters by July 3, according to the Ministry of Finance (MOF).
Those who have not provided their bank account numbers can do so at this website by July 22, and they will receive their payouts via bank transfer on August 1.
The rest will receive cheques sent to their official address by August 17.
Who Is Eligible?
Citizens must be aged 21 and above this year, with an assessable income of S$28,000 or less for year of assessment 2019 to be eligible.
They will receive $150 or $300 GST cash voucher, depending on their home’s annual value as at 31 December 2019.
Those who own more than one property are not eligible for GST vouchers.
About 545,000 Singaporeans aged 65 and above in 2020 will also receive GST vouchers in the form of Medisave top-ups of up to $450 each from August 1.
They will receive between $150 and $450, depending on their age and annual value of their home.
In total, cash payouts for GST vouchers will amount to around $410 million, while Medisave top-ups will total $160 million.
Those who wish to view their GST voucher cash and MediSave benefits online can do so by logging into this website using their SingPass.
MOF said GST voucher benefits have been disbursed to eligible Singaporeans every August since 2010. It is a permanent schedule introduced to help lower- and middle-income Singaporeans offset some of their GST expenses.
Featured Image Credit: Sam Kang via Bloomberg