The Goods and Services Tax (GST) Voucher is a direct payment scheme that provides financially disadvantaged Singaporeans with assistance. This year, the government has announced additional GST Voucher measures worth $700 million to help Singaporeans cope with the economic uncertainties caused by the COVID-19 pandemic. Here’s what you need to know.
Eligibility Criteria
To qualify for the GST Voucher, applicants must meet the following criteria:
– Singaporean citizen aged 21 and above
– Have an annual income not exceeding $28,000
– Not be a full-time student
Types of GST Vouchers
The GST Voucher consists of three components: Cash, U-Save, and Medisave top-ups.
Cash
Cash GST Vouchers are one-off payments of up to $800 for an individual, with higher amounts given to elderly recipients.
U-Save
U-Save GST Vouchers are monthly payments of up to $120 for households to offset their utilities bills.
Medisave
The Medisave GST Voucher provides up to $200 per year to eligible citizens to help pay for their medical expenses.
How to Apply
To apply for the GST Voucher, applicants need to log into their SingPass account and fill in the relevant forms. Applicants will then be required to provide their personal information and proof of income.
When to Expect Your Voucher
The GST Voucher will be paid out in two tranches. The first tranche will be paid out in August 2021 and the second tranche will be paid out in October 2021.
Conclusion
The GST Voucher is a direct payment scheme that provides Singaporeans with financial assistance. Eligible applicants will receive cash, U-Save, and Medisave top-ups. To apply, applicants need to log into their SingPass account and fill in the relevant forms. The GST Voucher will be paid out in two tranches in August and October 2021.