2 million Singaporeans to receive GST vouchers in July

Check out these huge benefits.

According to a release by the Ministry of Finance,   two million adult Singaporeans will receive letters from the Government in the first week of July, informing them of the benefits they and their households will receive as part of Budget 2013.

The benefits include GST Voucher (GSTV)which comprises the GSTV – Cash, GSTV – Medisave and GSTV- U-Save; GSTV Special Payment – a one-off extra payment of GSTV; and $200 top-up to the CPF Medisave Accounts of all Singaporeans aged 45 and above.

The letters will also contain information on other benefits from Budget 2013, such as the enhanced Workfare and Personal Income Tax Rebates.

These benefits will provide direct assistance to Singaporeans and their households to help them cope with increases in the cost of living.

The GSTV (Cash, Medisave and U-Save) and the GSTV Special Payment will cost the Government about $1.2 billion.

$880m to be given in regular GST Voucher – Cash/Medisave and Special Payment on 1 August 2013

The GSTV – Cash will be received by about 1.4 million eligible Singaporeans in their bank accounts or via cheque. In addition, about 370,000 elderly Singaporeans aged 65 and above will have the GSTV – Medisave topped up to their CPF Medisave Accounts.

Eligible Singaporeans will automatically receive their GSTV payouts on 1 August 2013. However, a small number of eligible Singaporeans who have not signed up for a previous Government payout (such as the GSTV last year or the 2011 Growth Dividend) will need to do so via the following channels to receive the payout by 1 August:

(a) Online at www.gstvoucher.gov.sg (by 16 July); or
(b) Hard copy form (by 12 July) available at any Community Centre, Community Development Council or CPF Service Centre.

Those who sign up after these dates will get their payouts after 1 August. Singaporeans have until 31 December 2013 to sign up.

$135m to be given to 800,000 HDB Households in regular GST Voucher – U-Save and Special Payment this July

This July, an eligible Singaporean household can receive between $135 to $195 worth of GSTV – U-Save rebates in total, depending on HDB flat type.

In addition, to provide more frequent and timely assistance to households, the permanent GSTV – U-Save will now be given quarterly (July, October, January and April), instead of twice a year.

The extra GSTV – U-Save under the one-off GSTV Special Payment will be given out in July 2013 and January 2014. They will offset utilities directly. There is no need to sign up for the rebates.

$300m to be given to all Singaporeans aged 45 and above in one-off Medisave Top-up

To help older Singaporeans with their healthcare expenses, all Singaporeans aged 45 and above this year will receive a $200 top-up to their CPF Medisave Accounts.

About 1.5 million eligible Singaporeans will receive their CPF Medisave Top-up automatically by 31 August 2013. Only a small number who have not signed up for a previous Government payout and are not CPF members will need to contact the CPF Board by 16 July to receive the Medisave top-up by 31 August. Singaporeans have until 31 December 2013 to sign up.