1.5 million Singaporeans to get up to S$850 GST vouchers as cash in Aug

Gabriel Lee
·3-min read

About 1.5 million Singaporeans will receive S$850 or S$450 GST vouchers as cash in Aug, said the Ministry of Finance (MOF) in a press release on 4 Jul (Thu).

Singaporeans aged 21 and above with an assessable income of up to S$34,000 and living in properties with annual values of up to S$21,000 will get S$850. Those whose properties with annual values of more than S$21,000 and up to S$25,000 will get S$450.

gst vouchers - infographic
Credit – Channel NewsAsia

This is part of the enhanced Goods and Services Tax (GST) Voucher (GSTV) scheme announced during Budget 2023 by Finance Minister Lawrence Wong.

Under the enhanced GSTV, eligible recipients will get an additional S$150 or S$100 compared to last year.

The GSTV helps to defray GST expenses for lower- to middle-income Singaporeans. The GST rate climbed from 8 percent in 2023 to 9 percent this year.

Around 650,000 eligible Singaporeans aged 65 and above will also have up to S$450 credited into their CPF MediSave Account in Aug.

gst vouchers - medisave payout
Credit – Channel NewsAsia

This is in addition to the Medisave top-ups of up to S$1,100 for Pioneer Generation seniors in July. Pioneer Generation seniors are Singaporeans aged 75 and above.

MediSave top-ups of up to S$1,100 in Jul for about 300,000 Pioneer Generation seniors

How do I know if I’m eligible?

Citizens may check their eligibility at govbenefits.gov.sg by logging in with their Singpass.

If you have not registered for the GSTV scheme, sign up at the above website by 9 Jul. You will receive your payout in August.

Those who sign up from 10 Jul 2024 to 20 Jun 2025 will receive their GST vouchers by the end of the next month after which they register.

Those who have not signed up previously will be notified by end-August 2024 via the Singpass app or SMS. Hardcopy letters will be sent to their NRIC address otherwise.

How and when will I receive the GST vouchers?

Since 2021, the MOF has been using PayNow-NRIC as the primary payment mode.

Citizens are encouraged to link their NRIC to PayNow with their banks by 22 Jul. Check this list for the 12 participating banks in Singapore.

Eligible citizens who do so will be able to get their 2024 GSTV earlier in early-August.

gst voucher - payment date
Credit – Channel NewsAsia

Those who do not have PayNow-NRIC may update their bank account information (with DBS/POSB, OCBC or UOB only) at the govbenefits website by 26 Jul.

They will receive their GST vouchers through GIRO from 12 Aug.

If you have not linked your NRICs to PayNow or provided a valid bank account, you will get your GST vouchers via GovCash. You may withdraw your GST vouchers at OCBC ATMs islandwide from 22 Aug.

Enter your 1) Payment Reference Number which can be retrieved via the govbenefits website from 22 Aug, your 2) NRIC and complete a 3) facial verification.

An OCBC bank account is not required for cash withdrawal at the OCBC ATMs.

Eligible recipients will only be notified in August after their GST vouchers have been credited to them. Those with Singpass will receive notifications through the app.

Those who have not downloaded nor completed their one-time setup on the Singpass app but have registered their mobile numbers with Singpass will receive SMS notifications.

S$300 CDC vouchers in June 2024: How do I claim them?

The post 1.5 million Singaporeans to get up to S$850 GST vouchers as cash in Aug appeared first on SETHLUI.com.

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