Singaporeans to receive S$50 more in GST Vouchers

From this year, Singaporeans eligible for the Goods and Services Tax Vouchers (GSTV) will receive S$50 more for the cash component.

This means a Singaporean aged 21 and above living in homes with an annual value (AV) of up to S$13,000 will receive S$300 in GSTV-Cash, while those living in homes with AVs between S$13,001 and S$21,000 will receive S$150.

Seniors aged 55 and above will also get a one-off GSTV-Seniors’ Bonus, which will see them receive up to S$600, double the amount other Singaporeans will receive. Those above the age of 65 and living in Housing and Development Board (HDB) flats will get another S$300, making it a total of S$900 for this group.

The additional payouts will help older seniors with their daily expenses while the details of the permanent Silver Support Scheme are being worked out, said Finance Minister Tharman Shanmugaratnam in his Budget address yesterday, adding that these payouts will benefit a larger group than the scheme, which will begin next year.

The GSTV-Cash payouts will benefit about 1.4 million Singaporeans, including more than 660,000 seniors, and cost the Government an additional S$385 million this year.

To qualify for both the GSTV top-up and the Seniors’ Bonus, an individual’s assessable income must not exceed S$26,000.

Service and conservancy charges rebates will also be given to all households living in HDB flats.

Families living in one- and two-room flats will receive a total of three months’ rebate for the year, three- and four-roomers will receive two months’ worth, five-roomers will get one-and-a-half months, while executive-flat owners will get one month’s rebate.

About 800,000 households will benefit from these rebates, totalling S$80 million.

READ THE FULL BUDGET STATEMENT HERE

Other documents on Budget 2015 available on the Budget 2015 website.

KELLY NG