About 2.1 million Singaporeans will be receiving cash handouts, utility rebates and Medisave top-ups in the next two months, under a new GST voucher scheme for lower-income families that is to become a permanent feature of Singapore?s social system.
A $3.6 billion fund will be set up to pay for this new GST Voucher scheme over the next five years until 2016, of which $680 million will be spent for this year alone.
Letters will be sent out from Monday onwards to inform individuals of the exact amount they will receive this year.
Background story
Eligible Singaporeans who have not signed up for a previous Government payout (such as the 2011 Growth Dividend or 2007-2010 GST Credits) will have to sign up by July 18 to receive their payout on Aug 1. They can do so via the following channels:
- Online:
www.gstvoucher.gov.sg (sign up by July 18); or
- Physical sign-up form: Available at any Community Centre, Community Development Council or CPF Service Centre (sign up by July 16).
Those who sign up after July 18 will receive their payout after Aug 1. They have up to Dec 31 to sign up for their 2012 GSTV payout.
The scheme, first announced during the Budget debate in February, is meant to help low-income families offset higher costs due to the Goods and Services Tax (GST). Singaporeans who qualify are adults in the bottom 40 per cent income bracket and who live in HDB flats or private property with an annual value of up to $20,000.
