To help Singaporean citizens cope with the rising cost of living, the government launched the GST Voucher scheme in 2012. This scheme is especially aimed at supporting lower- and middle-income households. For the year 2024, the scheme was updated to ensure even more people can benefit, especially as inflation continues to drive up the prices of everyday goods and services.
The GST Voucher is distributed once a year, and in 2024, the payouts were increased to help alleviate the burden of rising living costs. The scheme consists of four main components:
- Cash: Provides immediate financial assistance to lower-income Singaporeans.
- MediSave: Helps seniors aged 65 and above with their healthcare expenses by adding funds to their MediSave accounts.
- U-Save: Offers rebates to help lower household utility bills.
- Service and Conservancy Charges (S&CC) Rebate: Assists households with the cost of maintaining their public housing estates.
Each scheme component aims to meet specific needs based on factors such as income, age, and housing type. Below is a detailed scheme breakdown, including eligibility criteria, payout amounts, and important dates for the GST Voucher in 2024.
What is the GST Voucher?
The Goods and Services Tax (GST) Voucher is a program designed to help lower- and middle-income households manage the cost of living, especially with the increasing prices of essential goods and services. The government provides direct financial support through this scheme to ease the burden of GST on citizens.
In 2024, the government increased the payout amounts for the GST Voucher to offer more help to eligible citizens. This change is part of the larger Assurance Package aimed at reducing the impact of the GST rate increase. These updates show the government’s ongoing commitment to supporting households, especially as inflation continues to rise.
Eligibility for GST Voucher 2024
To qualify for the GST Voucher in 2024, citizens must meet certain age and income criteria. Specifically, the applicant must be a Singaporean citizen and meet the following conditions:
Age
- You must be at least 21 years old as of 31 December 2023.
- For the MediSave portion, you must be 65 years or older in 2024 to receive the MediSave component.
Income
- The applicant’s Annual Income must not exceed $34,000 for individual taxpayers or $68,000 for household income (for joint applicants).
- Those with property ownership or assets may have additional criteria based on the property’s Annual Value (AV).
CPF Participation
Singaporeans who are eligible for government benefits, including past years’ GST Vouchers, do not need to take additional steps to sign up. However, those who have not previously registered must ensure they apply by the relevant deadline (as detailed in the section below).
Voucher Payment Amount
The GST Voucher payout for 2024 has been increased to provide more support to Singaporean citizens. The amount you receive depends on your income and the value of your property.
In 2024, the cash rebate payout ranges from $450 to $850, up from the previous range of $350 to $700. This increase aims to offer more help to individuals and families, especially as the cost of living continues to rise due to inflation. The amounts for the other voucher components are listed below.
Cash
Annual Income | Annual Value (AV) of Home | Payout Amount |
---|---|---|
$34,000 or less | AV of $21,000 or less | $450 to $850 |
$34,000 or less | AV above $21,000 | $350 to $700 |
More than $34,000 | Any value of property | Not Eligible |
Medisave
Age in 2024 | Annual Value of Home ≤ $21,000 | Annual Value of Home ($21,001 – $25,000) | MediSave Amount ($) |
---|---|---|---|
65-74 | $250 | $150 | $250 |
75-84 | $350 | $250 | $350 |
85+ | $450 | $350 | $450 |
U-Save
HDB Flat Type | Jan 2024 | Apr 2024 | Jul 2024 | Oct 2024 | Total Amount ($) |
---|---|---|---|---|---|
1- and 2-room | $95 | $95 | $95 | $95 | $950 |
3-room | $85 | $85 | $85 | $85 | $850 |
4-room | $75 | $75 | $75 | $75 | $750 |
5-room | $65 | $65 | $65 | $65 | $650 |
Executive | $55 | $55 | $55 | $55 | $550 |
S&CC
HDB Flat Type | Apr 2024 | Jul 2024 | Oct 2024 | Jan 2025 | Total Rebate (months) |
---|---|---|---|---|---|
1- and 2-room | 1.0 | 1.0 | 1.0 | 0.5+0.5 | 4.0 |
3-room | 1.0 | 0.5 | 0.5 | 0.5+0.5 | 3.0 |
4-room | 0.5 | 0.5 | 0.5 | 0.5 | 2.5 |
Executive/Multi-gen | 0.5 | 0.5 | 0.5 | 0.5 | 2.0 |
GST Voucher Payment Method
The GST Voucher 2024 payout will be processed through several convenient payment methods. Citizens can receive their payments through three methods, depending on their preferences and previous registrations.
PayNow
For those who have linked their NRIC to PayNow, the payout will be credited directly to their bank account. If PayNow isn’t set up, payments will be directed to the last registered bank account or through GovCash for individuals without a bank account.
Bank Transfer
Individuals who have previously registered their bank details with DBS/POSB, OCBC, or UOB will receive the payout directly into their bank account.
GovCash
For individuals who have not linked a bank account, payments will be processed through the GovCash system.
How to Register for the GST Voucher Scheme?
For those who meet the eligibility criteria, applying for the GST Voucher is a straightforward process. Eligible citizens can apply through the Gov Benefits Portal. If they have already registered for government payouts in the past, the process is automatic, and no further action is required.
Here’s a step-by-step guide to applying:
- Visit the Gov Benefits Portal: Navigate to the official website.
- Fill in Personal Details: If you have not registered before, provide your personal details, including your NRIC, income, and property details.
- Submit Documents: If required, submit supporting documents (e.g., income statement, proof of property value).
- Select Payment Method: Choose between PayNow, bank transfer, or GovCash.
Applications must be submitted by April 30, 2024, to receive the payout in 2024. Ensure all information is accurate to avoid delays in processing.
How to Check Your GST Voucher Status?
Once you have registered for the GST Voucher Scheme, you can check the status of your payouts at any time. The easiest way to do this is through the Singpass app, which allows users to log in securely and view their profile details.
Here’s how you can check your status:
- Download and Log In: Install the Singpass app on your mobile device and log in using your credentials.
- View Profile: Navigate to the “My Profile” section of the app.
- Locate GST Voucher Details: Look for options related to NS Benefits or GST Vouchers.
- Check Status: View the status of your payout and any remaining MediSave balance.