For Budget 2021, the Government announced an additional $200 GST Voucher -Cash and 50 per cent GST Voucher – U-Save. These are Special Payments that are on top of the regular GST Vouchers that you would be receiving this year.
To recap, the GST Voucher Scheme is a permanent scheme introduced in Budget 2012 to help lower-income Singaporeans offset the GST increases and is a form of government transfer. The GST Voucher is given in three components – Cash, MediSave and U-Save.
|GST Voucher||Who is eliglible?||How is it credited?||When is it credited?|
|Cash||Lower-income Singaporeans||Cash, via your registered bank account or cheque if no bank account is registered.||Paid in August each year.|
|MediSave||Elderly Singaporeans aged 65 and above||Top-up to CPF MediSave account||Paid in August each year.|
|U-Save||Lower- and middle-income HDB households||Rebate off utilities bills||Paid in January, April, July and October each year.|
With these in mind, let’s find out how much you can expect to receive in GST Vouchers for FY2021.
The GST Voucher – Cash is given to lower-income Singaporeans. To qualify for the 2021 payout, you must meet the following criteria:
- You must be a Singapore citizen, residing in Singapore;
- You must be aged 21 or above in 2021;
- Your Income Earned in 2019 as assessed by IRAS (Assessable Income (AI) for the Year of Assessment (YA) 2020) must not exceed $28,000;
- The Annual Value (AV) of your home (as indicated on your NRIC) as at Dec 31, 2020 must not exceed $21,000; and
- You must not own more than one property
To check for your eligibility, you can log in to GST Voucher website after June 1, 2021. Eligible Singaporeans will also be notified in June 2021.
For those who are eligible and have received the GST Voucher-Cash previously, the 2021 payment will be automatically credited to you. For those who are newly eligible, you may sign up from June 1, 2021. The last day to sign up for the 2021 GST Voucher is April 30, 2022.
Individuals who qualify would expect to receive $350 or $500 (including the $200 Special Payment) depending on the AV of their home.
While there is no mention of GST Voucher-MediSave in Budget 2021, eligible seniors will continue to receive the MediSave top-ups as part of the permanent GST Voucher scheme.
To receive the GST Voucher – MediSave in 2021, you must fulfil the following criteria:
- You must be a Singapore citizen, residing in Singapore
- You must be aged 65 and above in 2021;
- The Annual Value of your home (as indicated on your NRIC) as at Dec 31, 2020 must not exceed $21,000; and
- You must not own more than one property.
Eligible seniors can expect to receive between $150 to $450, depending on their age and the AV of their home.
The payout schedule and deadline for sign-ups is the same as GST Voucher-Cash. Eligible seniors will also be notified in June 2021. The last day to sign up for the 2021 GST Voucher is April 30, 2022. If you have signed up for the GST-Voucher Cash, you are automatically registered for GST Voucher-Medisave if you are eligible. You only need to sign up once.
As announced in Budget 2021, eligible households will receive an additional 50 per cent of their regular GST Voucher-U-Save this year, in the form of a one-off GST Voucher-U-Save Special Payment.
Only HDB households are eligible for the GST Voucher-U-Save. To receive the GST Voucher-U-Save, your household has to fulfill the following conditions:
- If you own and live in your HDB flat, there must be at least one Singapore citizen owner or occupier in the flat; or
- If you partially rent out the HDB flat that you own and live in, there must be at least one Singapore citizen owner or occupier in the flat; or
- If you rent an entire flat, there must be at least one Singapore citizen tenant;
- And immediate family members living in the same flat must not own or have any interest in more than one property.
The GST Voucher-U-Save rebates are issued quarterly in April, July and October, as well as in January the following year, to help Singaporean HDB households offset their utility bills. The rebates will be credited directly to the HDB flat’s utilities account.
Eligible HDB households can expect to receive between $355 to $595 for FY2021, depending on the flat type.