1.4 Million Eligible Singaporeans To Receive GST Voucher Payouts In August
Earliest last month, adult Singaporeans received up to $600 cash as part of the Care and Support Package.
Come August, around 1.4 million eligible Singaporeans will receive GST vouchers of up to $300.
Additionally, around 545,000 Singaporeans aged 65 and above will get MediSave top-ups of up to $450.
GST voucher payouts for Singaporeans aged 21 & above
According to The Straits Times (ST), Singaporeans 21 and above whose assessable income for the Year of Assessment (YA) 2019 did not exceed $28,000 will receive GST vouchers of either $150 or $300.
The amount they receive will depend on their home’s annual value as of 31 Dec 2019.
Singaporeans who own more than 1 property, however, will not be eligible for the GST vouchers.
The GST vouchers are expected to cost around $410 million and will be credited into eligible Singaporeans’ bank accounts from 1 Aug.
Singaporeans who have not provided their bank account numbers can do so via the GST Voucher website here by 22 Jul. Those who do so will also receive their vouchers on 1 Aug.
Others who fail to do so will instead receive physical cheques sent to their official addresses.
MediSave top-up for elders 65 & above
In addition to GST vouchers, senior Singaporeans aged 65 and above will also get Medisave top-ups between $150 and $450.
The amount of top-up they get will depend on their age and the annual value of their homes.
The MediSave top-ups will amount to $160 million.
Glad GST payout still on despite Covid-19 outbreak
We’re glad that the Singapore government is continuing with the GST payout programme despite being in the midst of Covid-19 outbreak.
$300 cash payouts might not be much for many households, but for those who’ve lost their jobs or livelihoods, it’s a significant weight off their shoulders knowing they won’t have to dig into their savings for the next few meals.
You can check on your eligibility on the GST Voucher website here.
Featured image adapted from Gov.sg.