Extending GST Voucher Scheme to Seniors Whose Homes Exceed $21,000 Annual Value but Who Have Little Cash Savings
15 Feb 2022Parliamentary Question by Ms Joan Pereira:
To ask the Minister for Finance whether the Ministry will consider extending the GST Voucher scheme to seniors whose annual value of their homes exceed $21,000 if they have little cash savings and do not have children or family members supporting them.
Parliamentary Reply by Minister for Finance, Mr Lawrence Wong:
The GST Voucher (GSTV) scheme provides support to lower- and middle-income households for their expenses, in particular, what they pay in GST.
2. We use Assessable Income (AI) and Annual Value (AV) to determine eligibility, as these are the best available proxies to measure an individual’s means and access to family support. Properties with AVs exceeding $21,000 are private properties. A person living in a higher-value property is in general more likely to have access to more means or support through family resources.
3. That said, MOF carefully considers appeals by Singaporeans who are unable to qualify for the GST Voucher but are in financial difficulty. Apart from the GST Voucher scheme, seniors also receive support from other schemes, such as the Pioneer Generation Package, Merdeka Generation Package and healthcare subsidies.
4. We continue to review the GST Voucher scheme from time to time, to ensure that it continues to benefit those who need it most.