Households Receiving Lower GST Voucher Payouts Due to Revision in Annual Valuation of Property03 Aug 2023
Parliamentary Question by Assoc Prof Jamus Jerome Lim:
To ask the Deputy Prime Minister and Minister for Finance (a) how many households which previously received a $500–$700 GST voucher subsequently received a lower $250–$350 payout because of the revision in the Annual Valuation (AV) of property; and (b) whether the Ministry has taken into consideration how this may potentially invalidate the purpose of the GST voucher.
Parliamentary Reply by Deputy Prime Minister and Minister for Finance Mr Lawrence Wong:
The Annual Value (AV) of residential properties in 2022 were used to determine the GST voucher cash payouts this year. All HDB flats had an AV of below $13,000 in 2022, which meet the AV criteria for the higher tier of cash payouts.
As MOF announced previously, we are reviewing the AV thresholds of our social support schemes to ensure that Singaporeans in need are able to receive the appropriate support. We will provide an update on the revised AV thresholds for social support schemes when ready.