$1.2 billion GST vouchers to be given out in August

$1.2 billion GST vouchers to be given out in August

SINGAPORE - Two million adult Singaporeans will receive letters from the Government in the first week of July, informing them of the benefits they will receive as part of Budget 2013.

The benefits include:

1) GST Vouchers (GSTV) for  GSTV-Cash,GSTV-Medisave and GSTV-U-Save;

ii) GSTV Special Payment

iii) A $200 top-up to the CPF Medisave Accounts of all Singaporeans aged 45 and above.

According to the Ministry of Finance (MOF), The GSTVs for Cash, Medisave and U-Save and the GSTV Special Payment will cost the Government about $1.2 billion.

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

These benefits are meant to help Singaporeans cope with increases in the cost of living.

About 1.4 million Singaporeans will receive the GSTV-Cash in their bank accounts or via cheque. Additionally, approximately 370,000 elderly senior citizens will have the GSTV-Medisave topped up to their CPF Medisave Accounts.

Singaporeans eligible for GSTV payouts will reveive the benefits automatically on August 1.

Those who did not register Government payout  in the past will need to register by August 1. They can do so at:

(a) Online at www.gstvoucher.gov.sg (by July 16)

(b) At any Community Centre, Community Development Council or CPF Service Centre (by July 12).

Those who sign up after these dates will get their payouts after August 1.  Singaporeans have until the end of the year to sign up.

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