SINGAPORE - Singaporeans will get $50 more in Goods and Services Tax (GST) Vouchers from this year.
The GST Voucher, introduced in 2012 to help lower-and middle-income households with their expenses, is given in three parts - cash, Medisave and Utilities-Save, which provides HDB households with a rebate to offset their utilities bills.
Deputy Prime Minister and Finance Minister Tharman Shanmugaratnam, in announcing the $50-increase in GST Voucher quantum across the board, said this means that eligible individuals will receive up to $300 in cash.
"This will benefit 1.4 million Singaporeans," he said.
In addition, senior citizens aged 55 and above with receive a Seniors' Bonus GST Voucher this year to help them with their daily expenses.
This will effectively double the GST Voucher they will receive to up to $600.
Mr Tharman also announced Service & Conservancy Charges (S&CC) rebates for HDB households this year. One- and two-room households will receive three months' rebates; three- and four-room households will receive two months' rebates while those living in five-room and executive flats will get 1.5 months' and one month's S&CC rebates respectively. This will cost the Government $80 million.
