Home News 1.7M Singaporeans will receive S$1B in GST vouchers and MediSave top-ups

1.7M Singaporeans will receive S$1B in GST vouchers and MediSave top-ups

The GST Voucher Scheme is to aid the lower and middle income bracket to offset a portion of their GST expenses

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Singapore — According to a press statement from the Ministry of Finance dated June 26, a total of 1.7 million Singaporeans will be receiving notices by July 5 concerning their 2019 MediSave top-ups and GST Voucher (GSTV) benefits.

These benefits will be received between July and November this year.

While GSTV benefits may be seen online at www.gstvoucher.gov.sg, Singaporeans who are eligible for the benefits will also be receiving messages via text or mail telling them of these benefits.

The GST Voucher Scheme was launched in 2012 for the purpose of aiding citizens with lower or middle incomes to offset a portion of their GST expenses.

The MOF press statement notes, “The GST and GSTV form an important part of Singapore’s progressive system of taxes and transfers.”

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As to when eligible Singaporeans will receive their benefits, the timeline is as follows. Next month, 1.7 million Singaporeans will receive text messages and/or letters informing them of their GSTV benefits and MediSave top-ups. For members of the Pioneer and Merdeka Generations, it was announced earlier that they would receive their MediSave top-ups next month. The MOF statement says, “An MG Senior aged 65 in 2019 living in an HDB flat will receive $450 in MediSave top-ups, and a Pioneer aged 85 in 2019 living in an HDB flat will receive $1,250 in MediSave top-ups.”

Citizens who have previously signed up for the GSTV will automatically receive their payouts. Those who have not signed up will be invited to do so. The deadline for signing up is 31 December of this year. Signups can be accomplished online or via filling up forms at Community Centres.
Singaporeans need to provide their bank account details to www.gstvoucher.gov.sg if they have not done so already. This will ensure swift processing for cash payouts. If not, they will be receiving their GSTV two weeks later than direct bank crediting.

Aside from the GSTV, there is also the Bicentennial Bonus, which was announced in this year’s budget.

  • Singaporeans aged 7 to 20 will receive top-ups to Edusave Accounts or Post-Secondary Education Accounts (PSEA).
  • Lower-wage workers who received Workfare Income Supplement payouts for Work Year 2018 will receive additional cash assistance via the Workfare Bicentennial Bonus.
  • Lower-income Singaporeans who have low CPF balances will receive a CPF Top-up.
  • There will also be a Personal Income Tax Rebate for Year of Assessment 2019.

According to the MOF, “The top-ups to Edusave and PSEA will be made by end June 2019. The GSTV – Cash (Bicentennial Payment), Workfare Bicentennial Bonus and CPF Top-up will be paid to eligible citizens at the end of 2019.”

There are also certain household benefits that Singaporeans will receive. The statement reads, “Eligible HDB households will receive a GSTV – U-Save of up to $100, depending on the household’s HDB flat type, is given every three months to help offset utility bills directly. This includes an additional U-Save of $20 a year from 2019 to 2021. The GSTV – U-Save benefits amount to about $300 million annually and benefit about 930,000 eligible Singaporean HDB households.”

Additionally, “One-off Service & Conservancy Charges (S&CC) Rebate [Announced in Budget 2019]: The S&CC Rebate provides additional support for households. Around 930,000 eligible Singaporean HDB households will receive 1.5 to 3.5 months of S&CC Rebate between April 2019 to January 2020, depending on their HDB flat type.”

Singaporeans who wish to have more information on the GSTV should go to www.gstvoucher.gov.sg or www.singaporebudget.gov.sg or call 1800-2222-888./ TISG

Read related: MediSave top-ups totaling S$270 million available to qualified seniors starting next month

 

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