Ministry Of Finance, Gst Vouchers

Ministry Of Finance, Gst Vouchers

1.4 million Singaporeans to receive S$570 million in GST vouchers in August

1.4 million Singaporeans to receive S$570 million in GST vouchers in August

1/7/2020 8:02:00 AM

1.4 million Singaporeans to receive S$570 million in GST vouchers in August

SINGAPORE: A total of 1.4 million Singaporeans will receive S$570 million in GST vouchers next month, the Ministry of Finance (MOF) said on ...

BookmarkSINGAPORE: A total of 1.4 million Singaporeans will receive S$570 million in GST vouchers next month, the Ministry of Finance (MOF) said on Wednesday (Jul 1).The benefits include a GST voucher of up to S$300 in cash, which will be credited directly into citizens’ bank accounts from Aug 1.

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AdvertisementAdvertisementTo qualify for the cash voucher, citizens must be aged 21 and above this year, with an assessable income of S$28,000 or less for year of assessment 2019.Those eligible will receive either S$150 or S$300 based on the annual value of their home.

Table showing GSTV-Cash payment eligibility criteria. (Image: Ministry of Finance)Those who own more than one property are not eligible for the GST cash voucher.AdvertisementAdvertisementNine in 10 eligible citizens will receive the cash payouts automatically, MOF said.

Those who have not provided their bank account numbers can do so online by Jul 22 in order to receive their payouts via bank transfer. The rest will receive cheques sent to their official address by Aug 17.In total, the cash payouts will amount to about S$410 million.

About 545,000 Singaporeans aged 65 and above this year will also receive a top-up to their MediSave accounts of up to S$450 each from Aug 1. In total, the top-ups will amount to about S$160 million.Table showing GSTV-MediSave top-up eligibility criteria. (Image: Ministry of Finance)

SMS NOTIFICATIONS TO BE SENT OUTEligible Singaporeans who have registered their mobile numbers with SingPass will receive SMS notifications between Wednesday to Friday, informing them of their their GST voucher benefits, while the rest will receive letters.

To verify the authenticity of the SMS notification, citizens can check that the SMS is sent by “GSTV”.These SMS notifications only inform citizens of their benefits. Citizens will not be asked to reply to their SMS or to provide any information to the sender “GSTV”.

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Those who wish to view their GST voucher cash and MediSave benefits online can do so by logging into the website using their SingPass.MOF said GST voucher benefits have been disbursed to eligible Singaporeans in August since 2010. It is a permanent schedule introduced to help lower- and middle-income Singaporeans offset some of their GST expenses.

Read more: CNA »

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