Singapore’s government will begin doling out cash to eligible Singaporeans later this month to offset their GST taxes.
A total of 1.4 million Singaporeans can expect to receive S$200 refunds after June 23 from their Goods and Services Tax expenses, or GST. The stipend as part of S$900 million earmarked under the Household Support Package in this year’s budget, and will be followed by another S$150 to S$300 per person at month’s end, depending on assessed property value, according to the Finance Ministry.
The cash payouts are for Singapore citizens 21 and up who earn at least S$28,000 annually and live in residences not worth more than S$21,000 in annual lease or rent value.
In addition, 950,000 Singaporean households in HDB public housing flats will receive more tax rebates in April and July to cover utility expenses, while the elderly can expect top-ups to their medical savings, aka MediSave, of up to S$450 each starting July 30, the ministry added.
The cash payouts will amount to more than S$600 million, while the tax rebates will add up to about S$460 million. A total of S$170 million is expected to be channeled into MediSave top-ups.