Details about GST Voucher
Majority of the Singaporeans would have heard of GST Voucher. GST Vouchers provides a means of financial support to Singaporeans and was introduced by the government to help the lower incomes. Since it’s targeted for the lower income Singaporeans, there is some eligibility criteria on whom can get the voucher. To receive that, the person must stay in Singapore and is a Singapore citizen with an age of 21 and above. The income of the person should not be more than $28,000 based on their previous year assessment. So long as the person is a Singaporean or being a Singapore citizen on or before 31 December 2016, they can receive the voucher.
The voucher covers 3 parts: Cash, Medisave and U-Save. The cash and medisave portion is paid out in August each year whereas for U-Save, it is paid in 4 quarters, January, April, July and October. U-Save aims to help offset or reduce utilities bill for lower income families. U-Save cannot be converted to cash, hence, if the utility bills have been paid, the U-Save voucher will be used for the next month. Effective July 2017, the U-Save voucher will be increased from $40 to $120 based on the flat type. Take note that those who own more than 1 property are not eligible for the voucher.
The GST Voucher, in the form of regular GST voucher - cash and cash special payment is paid to the person’s bank account (largely) or cheque during August and November, usually through 2 separate months. For receiving of cheque, the process takes about up to 15 working days and validity is up to 6 months. The cheque amount will be credited to the person’s ordinary account in CPF if the cheque is not banked in. After all being said, it is much convenient and less hassle to opt the crediting into bank account method.
On top of the regular GST voucher, the cash special payment can be paid up to $200. The amount of the payment varies based on the person’s income. Many questioned on whether they are qualified for the GST Voucher. All they ought to do is to login to the GST Voucher website and check. No worries if you did not manage to log in because eligible Singaporeans will be notified every year in advance.
Of course, there are some who may own more than 1 property and felt that they are in financial difficulty or earning a low income, they can appeal by writing in to the government on a case-by-case basis. You may need approach the social service office, family service center for help.
For more information on the cash and medisave voucher, there is a hotline at 1800 2222 888. For the U-Save portion, the hotline can be dialed at 6671 7117. Both hotlines operate from 8am to 5.30pm during the weekdays.