The GSTV payouts will benefit up to 1.4 million Singaporeans this year.
Eligible Singaporeans will receive their GST Voucher (GSTV) Cash and Cash Special Payments starting from June and July this year, the Ministry of Finance (MOF) announced on Tuesday (Jun 1).
The GST Voucher – Cash Special Payment of $200 will be disbursed from Jun 23 while the GST Voucher – Cash of up to $300 will be disbursed from Jul 30.
Both cash payouts will be credited directly into citizens’ bank accounts.
Individuals who have linked their NRIC to their PayNow by Jun 15 will receive their GSTV – Cash Special Payment on Jun 23. Those without a PayNow-NRIC-linked account will receive their payouts via bank transfer on Jun 30 or a cheque to their registered address from Jul 15.
Similarly, individuals who have linked their NRIC to their PayNow by Jul 20 will receive their GSTV – Cash payout on Jul 30. Those without a linked account will receive the payout via bank transfer to their provided bank account on Aug 5 or a cheque from Aug 18.
Those who have not provided their bank account number to the Government can register at GSTVouchers.gov.
Following MOF’s move to PayNow-NRIC as the default mode of payment, Singaporeans are also encouraged to link their NRIC to PayNow to receive their payouts earlier.
Eligible Singaporeans will also receive GSTV notifications in their Singpass app inbox on Jun 1 to inform them of their benefits. Those who do not have the application will receive a notification via SMS on Jun 1 or a letter from Jun 2.
Up to $280 million in GSTV – Cash Special Payments and $405 million in GSTV – Cash payouts will be disbursed this year. The GSTV benefits, first started in 2012 for lower and middle income Singaporean households, will benefit almost 1.4 million Singaporeans this year.
About 950,000 Singaporean HDB Households will also receive an additional 50 per cent of their regular GSTV – U-Save through a one-off GSTV – U-Save Special payment in April and July. The rebates for FY2021 will range from $355 to $595, depending on the HDB flat type.
About 575,000 Singaporeans 65 years old and above will also receive a top-up of up to $450 to their CPF MediSave accounts from July 30.
More information on the payouts and GSTV benefits eligibility can be found here.
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