Singaporeans have been scratching their heads since the Ministry of Finance (MOF) announced the GST Voucher — Utilities-Save (GSTV U-Save) rebate in July 2018.
With people receiving notification letters for both their individual and household GST Vouchers, it’s no wonder that everyone’s left confused.
Don’t worry, MustShareNews is here to explain how it works!
Did multiple members of your household receive letters about your GST voucher?
Did you get excited thinking about how much savings that will add up to?
Unfortunately, that’s not how it works, because only one GSTV will apply to each household.
So no matter how many letters your family members have received, they all account for one rebate for that house.
Since its launch in July, eligible households are entitled to specific amounts of rebate for each quarter of the year.
These amounts will increase by $5 each quarter from 2019 to adjust to the carbon tax which will be implemented then.
While only one GSTV — U-Save rebate applies to each household, eligible recipients will still receive individual vouchers.
Simply put, eligible Singaporeans aged 21 and above will receive individual GST Cash vouchers based on the annual value of their homes.
And eligible Singaporeans aged 65 and above will receive both GST Cash and MediSave vouchers based on the annual value of their homes.
We hope we’ve clarified the GST Voucher scheme for you.
Now, consider tripling your spending power with a JB weekend getaway trip.
Featured image from Ministry of Communications and Information.
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