Singaporeans Will Receive $860 Million Worth Of GST Credits, Senior Citizens' Bonus And Rebates In FY 2007; Sign Up For GST Credits From 15 May 2007

2.4 million Singaporeans will be eligible for $650 million of GST Credits and Senior Citizens Bonus in 2007. 800,000 HDB households will also receive an additional $210 million of Utilities-Save (U-Save), Service & Conservancy Charges (S&CC) and rental rebates. These are part of the $4 billion GST Offset Package announced by the Second Minister for Finance Tharman Shanmugaratnam in his 2007 Budget Statement to help Singaporeans with the 2%-point increase in GST from 1 July 2007.

2. Singaporeans must sign up so as to receive their GST Credits/Senior Citizens Bonus. Those who sign up promptly can draw out the GST Credits in cash from 1 July 2007.

GST Credits and Senior Citizens' Bonus

3. 2.3 million Singaporeans aged 21 and above will get GST Credits of up to $1,000 over 4 years, or a maximum of $250 this year. NSFs and NSmen will get an extra $100 for their contributions to national security.

4. 671,000 Singaporeans aged 55 and above, who have an annual income of $100,000 or less, will get an additional Senior Citizens' Bonus of up to $1,000 over 4 years, or a maximum of $250 this year. Two-thirds of the Senior Citizens' Bonus will be paid in cash and one-third credited to the CPF Medisave Account.

Sign-Up Starts from 15 May 2007

5. Eligible Singaporeans will receive a letter from the CPF Board by 15 May 2007 on how much GST Credits/Senior Citizens' Bonus they can receive and how to sign up.

6. From 15 May 2007, Singaporeans can sign up at any DBS/POSB/UOB/OCBC ATM or through the GST Offset Package website at www.gstoffset.gov.sg. They need to do so by 25 June 2007 to get the GST Credits/Senior Citizens' Bonus if they would like to receive these on 1 July 2007.

7. Those who do not have a bank account can request for a cheque via www.gstoffset.gov.sg, or fill up a form GST/1 available at any SingPost office, Community Centre/Community Development Council or CPF Service Centre. They must send the form to CPF Board by 15 June 2007 if they would like to receive their cheque on 1 July 2007.

8. Singaporeans only need to sign up once to receive their GST Credits and Senior Citizens' Bonus for all 4 years from 2007 to 2010. Their eligibility for each year shall be based on the Annual Value of their NRIC address as at 31 December of the preceding year, and their annual Assessable Income in the preceding year.

9. Those who wish to donate their GST Credits to a charity of their choice can do so via the GST Offset Package website which directly links them to the National Council of Social Services' Online Donation Portal.

Helping Low-Income and Elderly Singaporeans Sign Up

10. Low-income and older Singaporeans can get help to sign up for their GST Credits/Senior Citizens' Bonus at Help Desks set up in 101 Community Centres/Clubs^[1] islandwide from 15 to 27 May 2007. The Ministry of Finance will be working with MCYS, MOH, NCSS and the Singapore Prisons Service to reach out to Singaporeans in welfare and nursing homes and prisons. The Ministry will also support Voluntary Welfare Organisations who are conducting their own sign-up efforts.

U-Save, S&CC and Rental Rebates

11. About 800,000 HDB households will get U-Save, S&CC and rental rebates over 5 years. In fiscal year 2007, they will receive up to 4 months of S&CC rebates, 4 months of rental rebates and $220 worth of U-Save rebates. HDB will send notification letters by end May 2007 to inform eligible households of the S&CC and rental rebates they will receive starting from June 2007. SP Services will notify households of the U-Save rebates they will receive in their July 2007 bills. No sign-up is needed to qualify for these rebates.

Public Enquiries

12. For more information on these benefits, the public can visit www.gstoffset.gov.sg or call:

GST Credits and Senior Citizens' Bonus: CPFB at 1800-2222-888
S&CC and Rental Rebates: HDB at 1800-2255-432
U-Save Rebates SP Services at 1800-2222-333

---

^[1] Help Desks will be set up at all Community Clubs/Centres except for Bishan, Bukit Panjang & Choa Chu Kang Community Centres, which are under renovation.

MINISTRY OF FINANCE