About 1.4 million low-income Singaporeans will receive GST voucher cash payments as of this month, the Ministry of Finance (MOF) said yesterday.
Nine out of ten eligible people are expected to receive their payments automatically.
In addition, some 950,000 Singaporean households in Housing Board apartments will receive their quarterly GST voucher – U-Save discounts and a special payment next month, the finance ministry said in its statement.
The ministry encouraged Singaporeans to link their NRICs to PayNow by June 15 to receive their cash payments earlier.
The One-Time GST Voucher – Special Cash Payment of $ 200, intended to help low-income Singaporeans with their daily expenses, will be credited to citizens’ bank accounts on June 23, for those who have linked their NRICs to PayNow, or who do it before June 15th.
Those who do not, but had previously provided their bank account numbers to the government, will receive the payment by wire transfer on June 30, the finance ministry said. The others will receive checks sent to the addresses of their NRICs from July 15th.
The special cash payment, which stands at $ 280 million, is part of the $ 900 million household support program announced in Budget 2021 in February.
The regular GST voucher – The $ 300 cash payment will be credited to citizens’ bank accounts on July 30, for those who link their NRICs to PayNow by July 20, the finance ministry said.
Those who don’t, but have already provided their bank account numbers, will receive payment by wire transfer on August 5. The others will receive checks sent to the addresses of their NRICs from August 18.
This component of the GST voucher program will amount to approximately $ 405 million.
The finance ministry said that from this year the ministry will use PayNow-NRIC as the default payment method for citizens who have linked their NRICs to PayNow.
He said PayNow provides citizens with increased convenience and privacy to receive money into their bank account through their NRICs, without having to disclose their bank details to the sender.
The GST voucher program was introduced in 2012 to help low- and middle-income Singaporeans offset some of their GST expenses. The program has three components: cash, MediSave and U-Save.
About 575,000 Singaporeans aged 65 and over this year will receive CPF MediSave account top-ups of up to $ 450 each starting July 30, the finance ministry said. In total, the add-ons will amount to around $ 170 million.
The U-Save and U-Save special payment discounts – credited to the utility account of an HDB apartment – will amount to approximately $ 460 million.
The special payment provides an additional 50 percent of the regular U-Save discounts in April and July.
The total amount of rebates received for fiscal 2021 ranges from $ 355 to $ 595, depending on the type of HDB apartment.
Singaporeans who have not purchased goods and services tax vouchers in the past can do so now. Those who signed up for a previous government payment do not need to register again, as they will receive their payments automatically.