1.4 million Singaporeans to get $570mil in GST Vouchers next month

Eligible Singaporeans will receive up to $300 in GST voucher, which will be directly credited into their bank accounts from 1 August.

The Ministry of Finance (MOF) on Wednesday (1 July) announced that up to 1.4 Singaporeans will benefit from $570 million in goods and services tax (GST) vouchers next month.

Eligible Singaporeans will receive up to $300 in GST voucher, which will be directly credited into their bank accounts from 1 August.

Those who have not provided their bank account details can do so at the GST voucher website by 22 July for them to receive the payouts by bank transfer on 1 August. The rest will receive cheques that will be sent to their official address by 17 August.

MOF noted that a small number of citizens qualify for the GST vouchers, but have not signed up for government payouts in the past.

“They will be invited via SMS or letter to sign up at www.gstvoucher.gov.sg, before the deadline of 31 May 2021,” said the ministry.

Overall, the cash payout will amount to around $410 million.

Meanwhile, around 545,000 Singaporeans aged 65 and above will also receive up to $450 in GST voucher – MediSave top ups from 1 August.

The overall top-ups will amount to around $160 million.

MOF explained that eligible Singaporeans who have registered their mobile numbers with SingPass will get SMS notifications from 1 to 3 July, informing them of their GSTV benefits, while the rest will get letters.

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Citizens can verify the authenticity of the SMS notification by checking that it is sent by GSTV. The ministry said the SMS notifications only inform citizens of their benefits and will not ask them to provide any information or reply to the sender.

“Those who wish to view their GSTV – Cash and MediSave benefits online can do so at www.gstvoucher.gov.sg (using SingPass to log on),” it said.

Introduced in 2012, the GST voucher is a permanent scheme aimed at helping lower- and middle-income Singaporeans offset some of their GST expenses.

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Victor Kang, Digital Content Specialist at PropertyGuru, edited this story. To contact him about this or other stories, email victorkang@propertyguru.com.sg

This post was originally posted on Property Guru Property Market News Section