Come 1 Jan 2024, those in Singapore will see a 1% increase in Goods and Services Tax (GST) from 8% to 9%.
This means that even basic items will be a little more expensive than they used to be.
It should come as good news then that supermarket chain Giant will be absorbing the GST hike for some of its products.
This includes essential items from categories like fresh produce, household items, and personal care.
From Jan to June 2024, Giant will be absorbing the GST increase for 700 products, reported The Straits Times (ST).
This is to help Singaporeans cope with inflation and the rising costs of living.
DFI Retail Group first announced the move on Tuesday (26 Dec).
These 700 products have also been carefully chosen based on customer feedback and data, said the group.
Items included in the list are fresh produce like Royal Gala Apples, Meadows Home Bathroom Tissue as well as Vitapet Dry Cat Food, among others.
Additionally, senior citizens can also enjoy a 4% storewide discount every Tuesday throughout the whole year.
This is in response to increasing concerns over living costs among Singapore’s elderly.
The discount will ensure that essential products remain affordable, said DFI Retail Group.
According to Giant’s website, this 4% discount will apply to Singapore Citizens and Permanent Residents aged 60 years and above.
While the discount should apply to most products, it does not cover the following items:
The supermarket chain joins FairPrice Group and Sheng Siong in their respective moves to absorb the GST increase.
FairPrice Group will be doing so for 500 essentials till June 2024. Meanwhile, Sheng Siong will offer a 1% discount for most items in the first quarter of the year.
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Featured image adapted from Google.
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