The Ministry for Finance (MOF) has announced that the Singapore government will be paying out a total of S$280 million to eligible recipients for the Goods and Services Tax Voucher (GSTV) in November.
MOF states that eligible GSTV – Cash recipients will receive a one-off GSTV – Cash Special Payment of up to $200, on top of the regular GSTV – Cash payments. This means that eligible recipients will receive up to $500 in total in 2016.
The ministry states that the GSTV is meant to support households amid current economic conditions and will be benefiting up to 1.4 million Singaporeans. This is on top of the regular GSTV – Cash paid out in August 2016.
In addition, older Singaporeans and Singaporean households will continue to receive their GSTV – Medisave and GSTV – Utilities-Save (U-Save) in 2016.
Apart from the GST vouchers, the government will also be giving a Service and Conservancy Charges (S&CC) Rebate. The S&CC rebate will cost $86 million and said to benefit about 840,000 HDB households.
The details of the support stated on its budget data release are as follows:
1. One-off GST Voucher (GSTV) – Cash Special Payment