More than 1.4 million Singaporeans will recieve from $570 million in goods and services tax vouchers in August 2020, in the form of cash payouts and Medisave top-ups.
Eligible Singaporeans will receive text messages or letters to inform them of their benefits by July 3, the Ministry of Finance said on Wednesday. Around 1.4 million Singaporeans will receive cash payouts of up to $300, credited directly into their bank accounts from Aug 1.
Those who have not provided their bank account numbers can do so at the GST Voucher website by July 22, and they will receive their payouts via bank transfer on Aug 1. The rest will receive cheques sent to their official address by Aug 17. The MOF added that a small number of citizens qualify for the benefits of the GST Voucher scheme, but have not signed up for the government payouts in the past.
They will be invited to do so via SMS or a letter before May 31 next year.
Singaporeans aged 21 and above, whose assessable income for year of assessment 2019 did not exceed $28,000, will get $150 or $300 depending on their home’s annual value as at Dec 31, 2019. Those who own more than one property are not eligible for the GST vouchers.