2.1 Million Singaporeans To Receive Their GST Voucher30 Jun 2012
1. Close to 2.1 million adult Singaporeans will receive letters from the Government from 2 July 2012 onwards, to inform them of the amount that they will receive this year under the GST Voucher (GSTV) scheme.
2. The GSTV is a permanent scheme introduced in Budget 2012 to help lower- and middle-income households with their expenses, in particular, what they pay in GST. Retiree couples living in smaller flats can expect to receive a GSTV that will more than fully offset their yearly GST expenses. The GSTV for lower-income households (with no elderly persons) living in 3- or 4- room flats should cover about half of the GST they pay each year. Middle-income families can also expect to receive a GSTV that will partially offset their GST expenses.
3. The GSTV has 3 components: (i) GSTV – Cash, to help defray some immediate expenses; (ii) GSTV – MediSave, a MediSave top-up to help the elderly with medical expenses; and/or (ii) GSTV – U-Save, a rebate to help households offset utilities bills. Singaporeans will receive some or all of the three components depending on their age, income and the annual value of their home.
$440m in GST Voucher – Cash and MediSave to be given on 1 August 2012
5. About $340 million in GSTV – Cash will be paid to the bank accounts or via cheque to eligible Singaporeans on 1 August. Those with an Assessable Income of $24,000 or less and living in a home with Annual Value (AV) $20,000 or less can get up to $250 in GSTV – Cash.
6. In addition, about $100 million in GSTV – MediSave will be topped up to the CPF MediSave Accounts of elderly Singaporeans aged 65 and above on the same day. Elderly Singaporeans living in homes of AV $20,000 or less can get up to $450 in GSTV – MediSave.
7. Most Singaporeans will not have to take any action to receive their GST Voucher. However, a small number of eligible Singaporeans who have not signed up for a previous Government payout (such as the 2011 Growth Dividend or 2007-2010 GST Credits) will have to sign up by 18 July to receive their payout on 1 August. They can do so via the following channels:
(a) Online: http://www.gstvoucher.gov.sg/ (sign up by 18 July); or
(b) Physical sign-up form: Available at any Community Centre, Community Development Council or CPF Service Centre (sign up by 16 July).
8. Those who sign up after 18 July will receive their payout after 1 August. They have up to 31 December 2012 to sign up for their 2012 GSTV payout.
$180 million in GST Voucher – U-Save to be given to 800,000 HDB households from July 2012
9. About $180 million in GSTV – U-Save will be credited to the utilities accounts of 800,000 HDB households from July 2012. This is the first payment of a half-yearly U-Save payout under the GSTV scheme. The GSTV – U-Save will be paid out in January and July each year. Those living in 1-2 room HDB flats will receive $130 in July, which can offset about 1-2 months of utilities bills on average. Those living in 3-4 room HDB flats can enjoy up to 1 month of offset on average.
10. There is no need to sign up for the GSTV – U-Save.
Additional information on the GST Voucher
11. More information can be found at http://www.gstvoucher.gov.sg/. Singaporeans can also call 1800 2222 888 for details on the GSTV - Cash and MediSave, and 1800 2222 333 for information on the GSTV – U-Save.