Support for Households
At Budget 2022, the Government announced the Household Support Package to provide support for daily essentials, the Assurance Package for GST to cushion the impact of the planned GST increase, and enhancements to the permanent GST Voucher scheme to provide continuing help to defray the GST expenses of lower- to middle-income Singaporean households, beyond the transitional support covered by the Assurance Package.
HOUSEHOLD SUPPORT PACKAGE
The Budget 2022 Household Support Package (“HSP”) helps Singaporean families to manage cost of living pressures, by providing support for daily essentials – through utilities rebates, top-ups for children’s education and vouchers for use at heartland shops. The package is estimated to cost the Government about $560 million.
Additional GST Voucher – U-Save
Top-ups to Child Development Account (CDA), Edusave Account, and Post-Secondary Education Account (PSEA)
Community Development Council (CDC) Vouchers Scheme
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ASSURANCE PACKAGE FOR GST
At Budget 2020, the Government announced a $6 billion Assurance Package (AP) for GST to cushion the impact of the planned GST increase for all Singaporeans.
The Government will top-up $640 million to enhance the AP. Under the enhanced AP, the majority of Singaporean households will receive offsets to cover at least five years’ worth of additional GST expenses. Lower-income households will receive offsets covering about ten years’ worth of additional GST expenses.
AP Cash Payouts
GST Voucher – Cash (Seniors’ Bonus)
Additional GST Voucher – U-Save
MediSave Top-ups
Community Development Council (CDC) Vouchers Scheme
Top-up to Citizens’ Consultative Committee ComCare Fund
Grants to Self-Help Groups
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ENHANCED PERMANENT GST VOUCHER SCHEME
The enhanced permanent GST Voucher (GSTV) scheme will provide continuing help to defray the GST expenses of lower- to middle-income Singaporean households, beyond the transitional support covered by the Assurance Package.
The GSTV scheme enhancements are (i) raising the Assessable Income (AI) for GSTV – Cash from $28,000 to $34,000, (ii) increasing the GSTV – Cash quantum by up to $200, and (iii) making the Service and Conservancy Charges (S&CC) Rebate a permanent component of the GSTV scheme, on top of GSTV – Cash, MediSave, and U-Save.
The enhanced GSTV scheme will cost $1.2 billion in FY2022.
GSTV – Cash
GSTV – MediSave
GSTV – U-Save
GSTV – Service and Conservancy Charges (S&CC) Rebate
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