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Around 1.5 Million S’poreans will Receive up to S$300 Cash in August 2022

The Government has been investing more resources in enhancing existing schemes to extend more help to Singaporeans amidst the rising global inflation and its surrounding challenges. About 1.5 million Singaporeans will receive up to S$300 cash under a special GST voucher payment in August 2022, according to Deputy Prime Minister Lawrence Wong.

This payment will be made on top of the regular GST Voucher (GSTV) cash payout of up to S$400, which was announced earlier this year. Recipients of GSTV can therefore expect to get up to S$700 in August. This move aims to support about 1.5 million lower-income to middle-income workers, as well as retirees without income.

Apart from this, all Singaporean households will receive a credit of S$100 for utilities by September 2022 to help offset their bills. Furthermore, eligible taxi main hirers and private hire car drivers will also receive a one-off relief of S$150 in August to cushion the higher fuel costs.

The following schemes will be enhanced to support those who are in need.

INCREASED CASH PAYOUT FROM GST VOUCHER SCHEME

To further offset the GST expenses of lower income to middle-income Singaporean households, enhancements to the GSTV scheme announced at Budget 2022 will be made. In August 2022, more Singaporeans will qualify for the GSTV cash payouts as the annual Assessable Income threshold will be increased from S$28,000 to S$34,000.

Eligible individuals will get up to S$400 of regular cash payout this year, which will be further increased to up to S$500 in 2023. Additionally, GSTV cash recipients will receive a Special Payment of up to S$300 in cash as part of the targeted support package announced last month.

JOBS GROWTH INCENTIVE EXTENSION (JGI)

JGI is a salary support scheme that provides employers with 15% to 50% salary support for new employees. It encourages employers to hire mature jobseekers who have not been working for at least six months, as well as persons with disabilities or ex-offenders.

The Government will extend the current phase of JGI from September 2022 to March 2023 as part of the targeted support package.

ENHANCED WORKFARE INCOME SUPPLEMENT

The Workfare Income Supplement aids lower-wage Singaporean workers whose earnings are in the bottom 20% of the working population. Eligible workers will receive support via CPF top-ups and cash to supplement their retirement savings and income.

Enhancements will be made from 2023 to provide higher annual payouts of up to S$4,200 for eligible Singaporean workers. More individuals will qualify for this support too.

PUBLIC TRANSPORT VOUCHERS DISTRIBUTION

To cope with the fare adjustment enacted in December 2021, households with a monthly household income of S$1,600 per person and below are eligible for Public Transport Vouchers.

If you have received a public transport voucher in the previous exercise, you would automatically receive a voucher via post. Otherwise, you may apply online until 31 October 2022 at go.gov.sg/ptv.

Image Credits: unsplash.com

Searching for other schemes that you are eligible for? Do check out SupportGoWhere or go to your nearest Social Service Office.

Sources: 1 & 2

$1 BILLION OF GST VOUCHERS AND MEDISAVE TOP-UPS FOR 1.6 MILLION SINGAPOREANS

The Ministry of Finance has announced in a press release that a total of 1.6 million eligible citizens will receive notifications by 6 July 2018 on their 2018 GST Voucher (GSTV) benefits and MediSave top-ups. Citizens may also use SingPass to view their GSTV – Cash and MediSave benefits online at www.gstvoucher.gov.sg. Similar to the notification exercise last year, citizens with mobile numbers updated with SingPass will receive SMS notifications. Other recipients will receive letter notifications. This will bring about convenience to citizens and will also be more eco-friendly.

GST Voucher Scheme

2 The GSTV is a permanent scheme introduced in 2012 to provide targeted assistance to Singaporeans to offset some of their GST expenses. GSTV and GST form an important part of Singapore’s progressive system of taxes and transfers (see infographic in Annex A).

Individual Benefits

GSTV – Cash

3 About 1.39 million eligible Singaporeans will receive up to $300 in GSTV – Cash in August 2018. The GSTV – Cash payments will amount to $410 million in total. To receive payouts directly into their bank accounts, eligible citizens are encouraged to update their bank account details at www.gstvoucher.gov.sg if they have not already done so, as cheque payments will take two weeks longer to process.

MediSave Top-Ups

4 About 485,000 Singaporeans aged 65 years and above in 2018 will receive up to $450 in GSTV – MediSave of in August 2018. The top-ups will amount to about $144 million in total.

5 In addition, Singaporeans who are born on or before 31 December 1959 (59 years and above in 2018) and do not receive Pioneer Generation (PG) benefits will receive a MediSave top-up of up to $200 in 2018. The top-up will benefit about 520,000 citizens, and cost $95 million. It will be credited into eligible citizens’ MediSave accounts in August 2018. In total:

• A non-Pioneer aged 65 in 2018 living in an HDB flat[1] can receive $450 of MediSave top-ups this year.

6 Pioneers will also receive their PG MediSave top-ups[2] of between $200 to $800 in July 2018. Considering both the PG MediSave and GSTV – MediSave:

• A Pioneer aged 75 in 2018 living in an HDB flat1 will receive $750 of MediSave top-ups;

• A Pioneer aged 85 in 2018 living in an HDB flat1 will receive $1,250 of MediSave top-ups.

SG Bonus

7 In addition to the GSTV scheme, as announced at Budget 2018, Singaporeans aged 21 and above in 2018 can receive an SG Bonus of up to $300 at the end of the year. Eligible citizens will receive a notification letter on their SG Bonus benefits by October 2018.

Household Benefits

GSTV – U-Save

8 The GSTV – U-Save is given every three months to help offset utilities bills directly. As announced at Budget 2018, eligible HDB households will receive an additional U-Save of $20 a year from 2019 to 2021. The GSTV – U-Save benefits will amount to about $280 million annually and benefit about 900,000 eligible Singaporean HDB households.

One-off Service & Conservancy Charges (S&CC) Rebate

9 The one-off S&CC rebate was announced at Budget 2018 to provide additional support to households. Around 900,000 eligible Singaporean HDB households will receive 1.5 to 3.5 months of S&CC rebate between April 2018 to January 2019, depending on their HDB flat type[3].

What this means for you

10 Most citizens will automatically receive their GSTV payouts if they had signed up for the GSTV or any other government payout scheme in the past. For the small number of citizens who have not signed up for the GSTV or past government payouts, they have until 31 December 2018 to sign up online, or through a hardcopy form (found at the Community Centres). Please see Annex B for more information on the benefits and Annex C for examples of three Singaporean archetypes, including the household benefits they will receive.

Contact Information

11 Details on the GSTV can be found at www.gstvoucher.gov.sg, and information on the other benefits announced at Budget 2018 can be found at www.singaporebudget.gov.sg. If you require more information, the contact details are as follows:

More information on Assessable Income and Annual Value of Home:

To find out how much you are eligible for, you can log on to https://www.gstvoucher.gov.sg with your SingPass.

You will then see something like this:

* Remember to update your payment mode.

Details of 2015 GST Vouchers Benefits To Be Sent Out in First Week of July

The Ministry of Finance has announced in a press release that 1.6million Singaporeans will receive a letter in the first week of July with details about the 2015 GST Voucher Benefits (GSTV), as well as information on other Budget benefits such as Service and Conservancy Charges (S&CC) rebates, U-Save and Medisave Top-ups.

If you are eligible, you will receive the payout in the month of August.

To find out how much you are eligible for, you can log on to https://www.gstvoucher.gov.sg with your SingPass. *Make sure you check your payment mode is correct.

1. Cash Payouts

a. GST Vouchers – Cash payout (Age: 21 and above)

This applies to most Singaporeans if you have an assessable income (YA 2014) of less than or equal to $26,000 with Annual Value of Home less than $21,000.

More info on Assessable Income and Annual Value: http://bit.ly/1LFbylE

b. GST Vouchers – Additional Cash Payouts as Seniors’ Bonus (Age: 55 and above)

In addition, those aged 55 and above can receive payouts of up to $600 to help with their daily expenses. (Note: This means up to $900 in cash per person when you include the previous payout in 1a.)

2. Medisave Payouts

a. GST Vouchers – Medisave Top-up (Age: 65 and above)

Those aged 65 and above can receive GSTV – Medisave top-up of up to $450.

b. Pioneer Generation Medisave Top-up (Age 66 and above)

In addition, those that belong to the Pioneer Generation can receive top-up that ranges from $200 to $800 annually. (i.e a 76yo retiree Pioneer that lives in a HDB flat and do not own a second property will receive $600 + $350 (from 2a.))

c. 5-year Medisave Top-up (Age: 56 and above who do not enjoy PG benefits)

Singaporeans born on or before 31 Dec 1959 (i.e. aged 56 years and above in 2015), who do not enjoy Pioneer Generation benefits, will receive Medisave top-ups of $100 or $200 annually from 2014 to 2018, as announced in Budget 2014. This will benefit about 528,000 Singaporeans. The vast majority (i.e. those living in HDB flats who do not own more than one property) will get the higher top-up of $200 a year.

3. Other Budget Benefits

a. GSTV – U-Save

The regular GST Voucher – U-Save is given out quarterly to help offset utilities directly, and costs $180 million annually. This July, over 800,000 eligible households will each receive up to $65, depending on their HDB flat type.

b. S&CC Rebates

The S&CC rebate is given out in April, July, and October this year, and costs $80 million in 2015. This July, around 800,000 eligible households will receive the S&CC rebate which will offset half a month to one month of charges, depending on their HDB flat type.

Additional Information

Most Singaporeans will automatically receive their GSTV payouts and 5-Year Medisave top-ups. For the small number of citizens who have not signed up for past Government payouts and/or are not CPF members, the letters they receive will inform them of the actions they need to take by 31 December 2015 to receive their benefits.

More details on the GST Voucher can be found at www.gstvoucher.gov.sg, and information on the other Budget benefits can be found at www.singaporebudget.gov.sg. If you require more information, the contact details are as follows:

Source: Ministry of Finance

$1 BILLION OF GST VOUCHERS AND MEDISAVE TOP-UPS FOR 1.6 MILLION SINGAPOREANS

1. Cash Payouts

2. Medisave Payouts

3. Other Budget Benefits

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