1.5 million Singaporeans will receive up to S$700 in GST vouchers in August

SINGAPORE: About 1.5 million Singaporeans will receive up to S$700 in cash in August through two payments, the regular GSTV – Cash and the GST - Cash Special Payment. 

These are part of a S$1.5 billion package announced by Depuy Prime Minister Lawrence Wong in June to help Singaporeans cope with higher inflation.

About 575,000 eligible Singaporeans aged 65 and above will also have up to S$450 credited into their CPF MediSave Account in August, as part of the GST Voucher scheme, said the Ministry of Finance (MOF) on Tuesday (Jul 12).

Those born on or before Dec 31, 1969, and who are not already receiving Pioneer Generation or Merdeka Generation benefits will each receive S$100 in their CPF MediSave Account in end-August.

"This is the fourth year that these eligible adults will receive their five-year MediSave top-up annually from 2019 to 2023 that was announced at Budget 2019," the ministry noted.

Eligible recipients of the GSTV – Cash and GSTV – Cash Special Payment will automatically receive the payment if they have signed up for government disbursement schemes previously, said MOF.

Those who have not previously signed up for the GSTV scheme can do so at the GSTV official website, before Apr 30, 2023.

For Singaporeans who have not provided their bank accounts or linked their NRICs to PayNow, GovCash will replace cheques as the mode of payment from this year.

Those on GovCash can withdraw their GSTV – Cash and GSTV – Cash Special Payment at OCBC ATMs islandwide by entering their payment reference number that will be sent to them at the end of August and NRIC.

They do not require an OCBC bank account to withdraw the payment at the ATMs, said MOF.

"GovCash recipients can also use the LifeSG app to make payment to merchants by scanning their PayNow or NETS QR code, or transfer payments to their bank accounts via PayNow if they subsequently register for PayNow-NRIC," it added.

The ministry said that the August GSTV – Cash and GSTV – MediSave payments are part of the Government’s continuing support for lower-income and elderly Singaporeans, to help with their GST expenses and costs of living.

It noted that in addition, eligible Singaporeans would have received CDC Vouchers, two tranches of U-Save and CC rebates and top-ups to their Edusave account or Post-Secondary Education Account (PSEA) earlier this year.

"They can expect further support in the form of cash payouts, utilities credits, top-ups to Child Development Account (CDA), and another two tranches of U-Save and S&CC rebates in the coming months," said the ministry.

C. (2022b, July 12). 1.5 million Singaporeans will receive up to S$700 in GST vouchers in August. CNA. https://www.channelnewsasia.com/singapore/gst-vouchers-august-gstv-cash-gst-cash-special-payment-cost-living-inflation-2803676