What is the GST voucher scheme?
The Government implemented the GST Voucher scheme in Budget 2012 to assist Singaporean households in the lower- and middle-income brackets by alleviating their financial burden, especially regarding Goods and Services Tax (GST) payments.
What are the types of GST voucher schemes available?
The GST Voucher programme encompasses four key areas, each catering to different household needs:
- Cash
This component offers financial assistance to lower-income Singaporeans to address their immediate needs. The cash grant is disbursed annually in August. During Budget 2023, the Government unveiled its plan to raise the quantum of GSTV – Cash, potentially by an additional S$350. This increment will be gradually implemented throughout the years 2023 and 2024.
- MediSave
Elderly Singaporeans aged 65 and above receive a grant deposited into their CPF MediSave accounts, which is intended to support their medical expenses. This grant is also distributed annually in August.
- U-Save
HDB households receive quarterly rebates to help offset their utility bills. These rebates are provided each year in January, April, July, and October.
- S&CC Rebate
HDB households also receive quarterly rebates to offset their S&CC (Service and Conservancy Charges) bills. Similar to the U-Save component, these rebates are disbursed in January, April, July, and October each year.
What are the eligibility criteria for the GST voucher scheme?
To qualify for these schemes, you must fulfil the following requirements:
- GSTV – Cash
- You must be a Singapore Citizen living in Singapore.
- You must be 21 years of age or older in 2023.
- Your Assessable Income (AI) must not exceed S$34,000.
- Your residential property’s Annual Value (AV) (as stated on your NRIC) must not exceed S$21,000.
- You must not own more than one property.
- GSTV – MediSave
- You must be aged 65 years or older.
- Your residential address must be associated with a property with an Annual Value (AV) not exceeding S$21,000.
- You must not own multiple properties.
- GSTV U-Save
- The household must have at least one Singaporean individual who is either the owner, occupier, or tenant of the HDB flat.
- None of the household members are allowed to possess multiple properties.
- GSTV S&CC Rebates
- The household must have at least one Singaporean individual who is either the owner, occupier, or tenant of the HDB flat.
- Households where any member owns or has any interest in a private property or has rented out the entire flat are not eligible for the S&CC rebate.
The information provided was accurate at the time of publication. For the latest changes and updates, head over to the official website.
