Coming in August: Cash payouts of up to $850 to help Singaporeans defray GST and other living expenses
Singaporeans can look forward to cash payouts and Medisave top-ups in August.
About 1.5 million citizens will receive up to $850 in cash as part of the enhanced GST Voucher (GSTV) scheme, said the Ministry of Finance (MOF) in a press release on Thursday (July 4).
Those living in homes with annual values of up to $21,000 will get $850, while residents of homes with annual values of more than $21,000, and up to $25,000, will receive $450.
If you own more than one property, you are not eligible for the payout.
About 650,000 Singaporeans aged 65 and above will also enjoy top-ups of up to $450 to their MediSave accounts.
The 2024 GSTV disbursements were first announced by Prime Minister Lawrence Wong during Budget 2023 and will amount to $1.4 billion - around $200 million more than the sum paid out to Singaporeans in 2023, said MOF.
You can check your eligibility for the GSTV benefits at govbenefits.gov.sg by logging in with your Singpass.
Those who have yet to sign up for the GSTV Scheme will be notified to do so by end-August via the Singpass app, SMS or hardcopy letters.