As Singapore continues the fight against Covid-19, many who have been hit hard by the pandemic require financial aid to get by.
On Tuesday (1 Jun), the Ministry of Finance (MOF) announced that 1.4 million eligible Singaporeans will be receiving up to $500 worth of GST Voucher (GSTV) cash payouts.
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Additionally, 950,000 Singapore households will get their quarterly GST voucher-U-Save rebates in July to help with utility bills.
This is part of the $900 million Household Support Package announced in Budget 2021 to provide additional support to families during this difficult period.
In a press release on Tuesday (1 Jun), MOF announced that 1.4 million Singaporeans will be receiving their GSTVs this year.
The vouchers consist of a one-off GSTV — Cash Special Payment of $200 and a regular GSTV — Cash payment of up to $300.
The one-off payments will be credited directly to eligible citizens’ bank accounts via PayNow. Those who’ve linked their NRIC to PayNow will get the payout on 23 Jun.
Meanwhile, those who have not done so by 15 Jun will receive the payout via bank transfer on 30 Jun.
If you have yet to register your bank account number at all, you may do so here.
All other citizens will receive their payouts via cheques sent to their homes on 15 Jul.
Another $300 GSTV — Cash will also be credited directly to citizens’ accounts from July to August.
Do refer to the table below to check if you are eligible for these payouts:
950,000 households will also receive their quarterly GSTV — U-Save rebates as well as a one-off GSTV — U-Save Special Payment.
Those living in 1-room or 2-room flats will receive U-Save rebates that add up to about 3 to 4 months’ worth of utility bills.
3-room and 4-room flat households will receive benefits amounting to about 1 to 2 months’ worth of utility bills.
Including the U-Save Special Payment, 950,000 households will receive an additional 50% of their regular GSTV — U-Save.
Here’s a breakdown of the rebates:
Good news for elderly Singaporeans aged 65 and above as they’ll be getting a top-up of up to $450 in their CPF MediSave Accounts from 30 Jul.
About 575,000 Singaporeans will benefit from this.
The Covid-19 pandemic has dragged on for over a year with far-reaching financial impacts on many.
Since last year, the Government has been drawing from our reserves to help Singaporeans tide through this difficult period.
Hopefully, these GST vouchers will be of help to those who are struggling amidst this financial climate.
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Featured image adapted from michelletiaphotos.com on Flickr.
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