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1.6 million Singaporeans to receive S$1 billion GST Vouchers, Medisave top-ups

SINGAPORE — By next Friday (July 6), 1.6 million citizens will receive notifications about their 2018 Goods and Services Tax (GST) Vouchers and Medisave top-ups, the Ministry of Finance (MOF) said on Thursday (June 28).

1.6 million Singaporeans to receive S$1 billion GST Vouchers, Medisave top-ups

SINGAPORE — By next Friday (July 6), 1.6 million citizens will receive notifications about their 2018 Goods and Services Tax (GST) Vouchers and Medisave top-ups, the Ministry of Finance (MOF) said on Thursday (June 28).

Adult citizens who qualify for the one-off SG Bonus of up to S$300 for adult citizens, announced at Budget 2018,will also be notified about their SG Bonus benefits by October.

In total, lower-income Singaporeans will each receive up to S$600 in cash benefits this year, comprising S$300 in GST Voucher to be paid out into their bank accounts on Aug 1, and S$300 in SG Bonus to be paid out by year-end.

Apart from cash, Singaporeans will receive top-ups to their Medisave as well as U-Save rebates under the GST Voucher scheme.

Homeowners of a three-room flat can expect to receive a total U-Save rebate of S$350 per household this year.

On top of this, as announced at Budget 2018, eligible Housing and Development Board (HDB) households will also receive an additional rebate of S$20 a year from 2019 to 2021.

These quarterly rebates are aimed at helping lower- and middle-income HDB to offset their utilities bills.

To help elderly Singaporeans pay for their medical needs, Medisave top-ups will be given.

Some 485,000 Singaporeans aged 65 years and above in 2018 will receive up to S$450 in Medisave top-ups in August under the GST Voucher scheme.

Citizens who are aged 59 and above, who do not receive Pioneer Generation benefits, will also receive a Medisave top-up of up to S$200 between this year and the next.

Pioneers, on the other hand, will receive Medisave top-ups of between S$200 and S$800 in July.

MOF said eligible citizens will automatically receive the payouts if they have signed up for the GST Vouchers or other Government schemes.

The GST Voucher cash payout and Medisave top-up will cost the Government some S$1billion this year.

Those who have not done so can sign up either online or via hard-copy forms available at community centres by Dec 31 this year.

Recipients who have updated their mobile numbers on SingPass will receive SMS notifications about the benefits they are entitled to, while other recipients will receive letter notifications.

 

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