The GSTV scheme was introduced in 2012 to provide targetted assistance to lower and middle-income Singaporeans.
A total of 1.6 million Singaporeans will benefit from goods and services tax (GST) vouchers and MediSave top-ups worth $1b, according to an announcement by the Ministry of Finance.
Citizens with mobile numbers updated with SingPass will receive SMS notifications. Other recipients will receive letter notifications. "This will bring about
convenience to citizens and will also be more eco-friendly," the MOF said.
The GSTV scheme was introduced in 2012 to provide targetted assistance to lower and middle-income Singaporeans and offset some of their GST expenses.
The criteria for eligible Singaporeans include age and annual home value.
Meanwhile, about 485,000 Singaporeans aged 65 years and above will receive up to $450 in GSTV – MediSave in August 2018. The top-ups will amount to about $144 million in total.
In addition to the GSTV scheme, the MOF also reiterated the pronouncement during BUDGET 2018 that Singaporeans aged 21 and above in 2018 can receive a one-off bonus of up to $300 at the end of the year.
Eligible citizens will receive a notification letter on their SG Bonus benefits by October 2018.
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