More than 1.5 million Singaporeans are set to receive cash payouts of up to S$850 in August under the Government’s Goods and Services Tax Voucher (GSTV) scheme, according to an announcement by the Ministry of Finance (MOF) on Monday, 7 July.
In a move aimed at preserving the inclusivity of the scheme, the assessable income threshold for GSTV – Cash has been raised from S$34,000 to S$39,000. This adjustment reflects the improved earnings of lower- and middle-income Singaporeans, while ensuring continued access to the financial support programme.
Singaporeans aged 21 and above with assessable incomes of up to S$39,000 and residing in properties with an annual value of up to S$21,000 will receive S$850 in cash. Those living in homes with annual values between S$21,000 and S$31,000 will receive S$450.
Additionally, approximately 690,000 eligible Singaporean seniors will benefit from GSTV – MediSave, receiving top-ups ranging from S$150 to S$450 to their MediSave accounts.
Eligible individuals who have previously enrolled in the GSTV – Cash and GSTV – MediSave schemes will receive their benefits automatically from 6 August. Notifications confirming the disbursement will be sent via SMS or letter. Singaporeans may verify their eligibility through the official govbenefits website.
The total amount to be disbursed in this year’s GSTV exercise is expected to reach S$1.5 billion, reinforcing the Government’s commitment to supporting households amidst the evolving economic landscape.
-CNA
