In Budget 2021, the Government announced that GST Voucher (GSTV) – Cash recipients will receive a one-off GSTV – Cash Special Payment of S$200 on top of the regular GSTV – Cash payment.
In addition, all eligible HDB households will receive an additional 50 per cent off their regular GSTV – U-Save this year, through a one-off GSTV – U-Save Special Payment.
These are part of the Budget 2021 Household Support Package, which provides additional support to families during this period of uncertainty, with lower- to middle-income families receiving more.
GST Voucher – Cash Special Payment
Lower-income Singaporeans who qualify for the GSTV – Cash (paid every August) will each receive an additional Cash Special Payment of S$200 from June 23.
In total, lower-income Singaporeans can receive up to S$500 in GSTV – Cash and Cash Special Payment this year to help them with their daily living expenses. This will benefit about 1.4 million Singaporeans and of these eligible citizens, nine in 10 will receive their payouts automatically.
The GSTV – Cash of up to S$300 will be credited directly into citizens’ bank accounts from July 30.
Those who do not have a PayNow-NRIC-linked bank account but have provided their bank account number to the Government previously, will receive their payouts via bank transfer on June 30. The rest will receive cheques sent to their official address from July 15.
This component of the GST Voucher scheme will amount to about S$405 million.
Additionally, about 575,000 Singaporeans aged 65 and above in 2021 will also receive a top-up to their CPF MediSave Accounts of up to S$450 each from July 30. In total, the top-ups will amount to about S$170 million.
For more details on the GST Voucher and to check your eligibility, you can visit www.gstvoucher.gov.sg.
Looking for some ways to spend your GST Vouchers? Why not have a look at popular Singaporean brands on VP Label:
Featured Image Credit: Bernama