1.5 million S'poreans will receive up to S$700 cash under GST voucher scheme in August

A graphic of increasing cost of living against the backdrop of HDB flats
1.5 million Singaporeans will receive up to S$700 in cash under the GST Voucher scheme in August 2022. (PHOTO: Getty Images)

SINGAPORE — Some 1.5 million Singaporeans will receive up to S$700 in cash under the Goods and Services Tax Voucher (GSTV) scheme in August, the Ministry of Finance (MOF) said on Tuesday (12 July).

The payment is part of the S$1.5 billion support package announced by Deputy Prime Minister Lawrence Wong on 21 June to help cope with the effects of inflation.

The S$700 in cash comprises the regular GSTV-Cash and the additional GSTV-Cash Special Payment. The regular GSTV-Cash payment has been enhanced by S$100.

Under the GSTV scheme, 575,000 eligible Singaporean adults aged 65 and above this year will have up to S$450 credited into their Central Provident Fund MediSave Account.

Singaporeans born on or before 31 December 1969 — or those aged 53 or older in 2022 — and not already receiving Pioneer Generation or Merdeka Generation benefits, will each have S$100 credited into their CPF MediSave Account in end-August.

Payment table for GSTV scheme
Payment modes and dates for Singaporeans eligible for August payouts under the GSTV scheme. (PHOTO: Ministry of Finance)

This is the fourth year that these eligible adults will receive their five-year MediSave top-up annually.

MOF said that the payments are part of the government’s continuing support for lower-income and elderly Singaporeans, to help with their GST expenses and costs of living.

Table of payment amounts under GSTV-MediSave
Payment amount according to age band for GSTV-MediSave. (PHOTO: Ministry of Finance)

Eligible Singaporeans would have received Community Development Council vouchers, two tranches of U-Save and Service and Conservancy Charges (S&CC) rebates, and top-ups to their Edusave account or Post-Secondary Education Account earlier this year.

They can expect further support in the form of cash payouts, utilities credits, top-ups to Child Development Account (CDA), and another two tranches of U-Save and S&CC rebates in the coming months, the MOF added.

Eligible recipients of the GSTV–Cash and GSTV–Cash Special Payment will automatically receive the payment if they have signed up for Government disbursement schemes previously. Those who have not should do so at the GSTV official website before 30 April 2023.

Citizens may check their eligibility for the GSTV–Cash and MediSave benefits at the GSTV official website by logging in with their Singpass.

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