For the 2021 budget, the government announced an additional $ 200 GST voucher for cash and a 50 percent GST voucher for U-Save. These are special payments that are in addition to the regular GST vouchers you would receive this year.
In summary, the GST voucher program is a permanent program introduced in the 2012 budget to help low-income Singaporeans offset the GST increases and a form of government transfer. The GST voucher consists of three components: Cash, MediSave and U-Save.
|GST voucher||Who is Eligible?||How is it credited?||When will it be credited?|
|cashbox||Lower-income Singaporeans||Cash from your registered bank account or check that no bank account is registered.||Paid in August every year.|
|MediSave||Older Singaporeans aged 65 and over||Top up the CPF MediSave account||Paid in August every year.|
|U-Save||HDB households with low and middle income||Discount on utility bills||Paid in January, April, July and October each year.|
With that in mind, let’s find out just how much to expect in Fiscal Year 2021 GST Coupons.
GST voucher cash
The GST Voucher – Cash is given to Singaporeans with lower incomes. To qualify for the 2021 payout, you must meet the following criteria:
- You must be a citizen of Singapore and reside in Singapore.
- You must be at least 21 years old in 2021.
- Your 2019 IRAS (Assessable Income (AI) year of assessment (YA) 2020) earned income cannot exceed USD 28,000.
- The Annual Value (AV) of your home (as stated on your NRIC) as of December 31, 2020 cannot exceed $ 21,000. and
- You are not allowed to own more than one property
To check your eligibility, you can log into the GST Voucher website after June 1, 2021. Eligible Singaporeans will also be notified in June 2021.
For those who are eligible and have previously received the GST Voucher Cash, the payment will be automatically credited to you in 2021. For those who are newly eligible, you can register from June 1, 2021. The last day you sign up for the GST voucher 2021 is April 30, 2022.
Individuals who qualify expect $ 350 or $ 500 (including the $ 200 special payment) depending on their home AV.
While GST 20 Voucher-MediSave is not mentioned in the 2021 budget, eligible seniors will continue to receive MediSave top-ups as part of the permanent GST Voucher program.
To receive the GST voucher – MediSave in 2021, you must meet the following criteria:
- You must be a citizen of Singapore and reside in Singapore
- You must be 65 years of age and older in 2021.
- The annual value of your home (as stated on your NRIC) as of December 31, 2020 cannot exceed $ 21,000. and
- You are not allowed to own more than one property.
Eligible seniors can expect a price ranging from $ 150 to $ 450 depending on the age and AV of their home.
The payout schedule and registration deadline are the same as for GST Voucher-Cash. Eligible seniors will also be notified in June 2021. The last day to register for the GST Voucher 2021 is April 30, 2022. If you have signed up for the GST Voucher Cash, you will be automatically registered for GST Voucher-Medisave if you do so are eligible. You only have to register once.
As announced in the 2021 budget, eligible households will receive an additional 50 percent of their regular GST voucher U-Save this year in the form of a one-time GST voucher U-Save special payment.
Only HDB households are entitled to the GST Voucher-U-Save. To receive the GST Voucher-U-Save, your household must meet the following conditions:
- If you own and live in your HDB apartment, there must be at least one Singapore citizen owner or user in the apartment. or
- If you are partially renting out the HDB condo that you own and live in, there must be at least one Singapore citizen owner or user in the home. or
- If you rent an entire apartment, there must be at least one tenant in Singapore.
- And immediate family members living in the same apartment may not own or be interested in more than one property.
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The GST Voucher-U-Save discounts are issued quarterly in April, July and October and in January of the following year to help Singapore HDB households settle their utility bills. The discounts are credited directly to the HDB apartment’s pension account.
Eligible HDB households can expect a price between 355 and 595 US dollars for the 2021 financial year, depending on the type of apartment.