Eligible Singaporeans will receive up to S$700 worth of vouchers this December from the Singapore government to offset the upcoming GST hike and rising costs of living.
The vouchers payable in December would come in two parts – the Assurance Package Vouchers and the Cost of Living vouchers. This would be the first round of GST vouchers that Singaporeans will receive in the coming months.Assurance Package Vouchers In Budget 2020, the Singapore government announced a S$6 billion Assurance Package to cushion the effects of the upcoming increase in GST.
They have since enhanced the package with an additional S$640 million worth of vouchers, which would be distributed to about 2.8 million adult Singaporeans. The payouts will be distributed over 5 years, with the first payment being dispersed in December 2022.In October 2022, Deputy Prime Minister and Minister for Finance Lawrence Wong announced a S$1.5 billion support package to provide aid to Singaporeans for rising inflation.
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