Saturday, 30 September 2023

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MOF: 950k Singaporean households to benefit from increased GSTV rebates in July

SINGAPORE — The Ministry of Finance (MOF) announced on Friday (30 Jun) that approximately 950,000 Singaporean households residing in Housing Board flats will benefit from their quarterly Goods and Services Tax Voucher (GSTV) U-Save and service and conservancy charges (S&CC) rebates due in July.

Eligible households in the financial year 2023 will receive double their regular U-Save. This increase will cover between eight and ten months’ worth of utilities bills for those living in one- or two-room HDB flats. For those in larger households, residing in three- or four-room HDB flats, the rebate will represent about four to six months’ worth of utility bills.

Moreover, these households will also be granted their regular quarterly GSTV and S&CC rebates. This will serve to offset between half and one month of S&CC payable to their respective town councils in July 2023.

MOF stated that the total U-Save and S&CC rebates disbursed this financial year would round off at about $720 million.

The rebates will be credited directly into the recipients’ S&CC accounts managed by their respective town councils, requiring no action on the households’ part to take advantage of these schemes.

Residents wishing to inquire about their eligibility for the GSTV and S&CC rebates are encouraged to log into My HDBPage via the HDB InfoWEB portal using their Singpass.

The Singaporean Government first introduced the GSTV scheme in 2012. Since the 2022 financial year, the S&CC rebate has been included as a component of the scheme, further enhancing the support provided to eligible households.

Just this year, GST was increased from 7% to 8%. Next January, the GST will be further increased to 9%.

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