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Singaporeans Donate $0.5 Million GST Credits To Charity; Last 3 Days To Sign Up To Receive GST Credits On 1 July 2007

22 June 2007

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Some 3,600 Singaporeans have so far donated $450,000 of GST Credits to charities registered with the National Council of Social Service (NCSS). The top 5 beneficiary charities are the Children's Cancer Foundation, CareCancer Society (Singapore), Assisi Hospice, Society For The Prevention Of Cruelty To Animals, and Ren Ci Hospital and Medicare Centre.

2. About 1,000 Singaporeans with an annual Assessable Income (AI) of $24,000 or less have donated $120,000, with another 1,500 Singaporeans with an AI between $24,000 and $100,000 donating $190,000 and 1,100 Singaporeans with an AI above $100,000 donating $140,000.

3. Singaporeans who wish to donate their GST Credits can do so when they sign up for their GST Credits at the GST Offset Package website (www.gstoffset.gov.sg).

LAST 3 DAYS TO SIGN UP TO RECEIVE GST CREDITS ON 1 JULY 2007

4. Singaporeans who wish to receive their GST Credits on 1 July 2007 have until 25 June 2007 to sign up. They can do so through the GST Offset Package website (www.gstoffset.gov.sg) or any DBS/POSB/UOB/OCBC ATM.

5. Those who miss this deadline have up to 15 July 2007 to sign up via the ATMs or up to 31 December 2007 via the website to receive the 2007 payment of the GST Credits. .Those who wish to sign up using the GST/1 forms available at any CC, CDC, SingPost office or CPF Service Centre, will also have until 31 December 2007 to send the completed forms to the CPF Board. The payment will be made to their accounts within 4 working days for applications done via the website or ATM, or 10 working days for applications through GST/1 forms. Those requesting for cheque payment will receive their cheque within 15 working days.

6. To date, about 90% or over 2 million of the 2.3 million adult Singaporeans who qualify for the GST Credits have already signed up.

7. For more information on the GST Offset Package, the public can visit (www.gstoffset.gov.sg) or call the CPF Board at 1800-2222-888.

MINISTRY OF FINANCE

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