Additional One-Off GST Voucher Of $200 To Be Given Out As Part Of Budget 2021
After over a year of the Covid-19 pandemic, many have their eyes on Budget 2021 to see how the Singapore Government plans on helping those hard hit.
During the speech on Tuesday (16 Feb), Finance Minister Heng Swee Keat shared that eligible families in Singapore will receive an additional $200 GST Voucher – Cash this year.
The one-off distribution will be accompanied with other contributions that will help families tide through this period. All of these form the new Household Support Package.
$200 GST Voucher for eligible Singaporeans in 2021
Continuing in the same vein from last year, eligible Singaporeans will be receiving the GST Voucher – Cash or GSTV this year.
The amount has been set at $200, though when distribution will commence is unclear.
The Ministry of Finance (MOF) will typically announce details closer to the date, so do keep a lookout on the GST Voucher website for updates.
As for the eligibility criteria, MOF will announce them in due time too.
For reference, the previous voucher required individuals to fulfill the following criteria:
- Must be a Singaporean citizen residing here
- Aged 21 and above in the year of receipt
- Income mustn’t exceed $28,000 for the latest Year of Assessment
- Annual Value of your home as of the end of the previous year shouldn’t exceed $21,000
- Own no more than 1 property
Whether the above criteria will remain is uncertain for now, but we’ll update once more information is available.
New Household Support Package in Budget 2021
Focusing more on lower and middle-income families, the new Household Support Package will provide several other forms of assistance:
- Additional $120 – $200 GST U-Save rebate for eligible HDB households
- 1-year extension of service & conservancy charges (SCC) rebates for eligible HDB households
- Extra $200 top-up for Edusave, Child Development or PSEA accounts per child for families with children below 21 years old
- $100 Community Development Council (CDC) vouchers for all households
The CDC vouchers will be valid for use at participating hawker centres and heartland stores.
According to DPM Heng, the Government has contributed $150 mil to the CDC for these vouchers.
In total, the Household Support Package will set them back roughly $900 mil.
Commitment to help all residents tide through this period
In view of the amount of money the Government is continuing to draw from our reserves, the commitment to help residents tide through this difficult period is clear.
Covid-19 has certainly taken a toll on many of us, and we could use all the help we can get.
Hopefully, the financial support will help, alongside consistent assistance for those in need of long-term support to get back on their feet.
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Featured image adapted from gov.sg.
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