Notification About GST Vouchers & Medisave Top-Ups Should Arrive By 5 July
The time of year that all Singaporeans look forward to is here at long last. We’ll finally be receiving our GST vouchers.
The Ministry of Finance (MOF) announced today (26 Jun) that “eligible Singaporeans will receive text messages or letters” about their benefits by 5 July, according to a report by The Straits Times.
You know what that means – more money in your bank for you to spend – or save – if you’re thrifty.
Cash vouchers for the young and old
Singaporeans aged 21 and above with assessable income amounting to S$28,000 or less in 2018 will receive GST vouchers of up to S$300.
Note that the annual value of your home shouldn’t exceed S$13,000, or you’ll receive S$150 instead for both the regular cash payment and the bicentennial payment.
Older Singaporeans from the age of 65 meanwhile will receive GST vouchers of up to S$450.
The ‘voucher‘ will be credited straight to their bank accounts on 1 Aug 2019.
Benefits for the Merdeka & Pioneer Generations
The Merdeka Generation Package for 60 to 69-year-old Singaporeans will reward eligible individuals with an extra S$200.
The Pioneer Generation Package, on the other hand, gives up to $800 to the pioneer generation, who are citizens aged 70 and above.
Both these special packages will commence in July, which is just a few days away.
Older Singaporeans who don’t fall into either category and are between 50 to 59 years old will get a $100 Medisave top-up instead, to last till 2023.
The money will go to their bank accounts in August.
Bicentennial Bonus Package
As part of the Bicentennial Bonus Package, Singaporeans who qualify for the GST vouchers will receive extra cash of up to S$300.
They’ll only get the additional amount between November and December this year.
The Bicentennial Package also includes the following perks, doled out throughout the bicentennial year:
With all that money going into your bank account soon, you’ll have to keep tabs on it.
So check your SMS notifications and letterboxes diligently, and look out for your GST voucher message.
Featured image from The Ministry of Communications and Information.