Coming soon: 950,000 Singaporean households to get up to $190 in rebates to offset GST hike

SINGAPORE — About 950,000 Singaporean households living in Housing Board flats will each receive up to $190 in goods and services tax voucher (GSTV)-U-Save rebates from January to offset the GST increase of one percentage point and other living expenses.

The rebates are part of the Government’s move to mitigate the rising cost of living for Singaporeans.

They are disbursed quarterly – in April, July, October and January – each financial year, with eligible households receiving double their regular U-Save rebates this financial year, which ends in March 2023.

Households living in one- and two-bedroom flats will receive the largest rebate of $190, while those in three-room flats will receive $170, said the Ministry of Finance on Friday.

Eligible Singaporeans living in four-room flats will get $150, while those in five-room flats will receive $130. People living in executive or multi-generational flats will get $110.

This amounts to eight to 10 months’ worth of utility bills for an average household in a one- or two-room flat, or four to six months’ worth of utility bills for an average household in three- or four-room flats.

The U-Save rebates will be credited directly into utility accounts managed by SP Services.

Households living in one- to five-room flats will also get 0.5 months in GSTV rebates for service and conservancy charges (S&CC). These will be credited in January to S&CC accounts managed by the respective town councils.

The U-Save and S&CC rebates are part of the Governmen1t’s permanent GSTV scheme and the Assurance Package.

The package, first announced in 2020, was given a $1.4 billion boost in November to help Singaporeans cope with the upcoming GST hike in January from 7 per cent to 8 per cent and is now worth $8 billion in total.

There will be other rebates and benefits in the first two months of 2023, added the Finance Ministry.

On Jan 3, every Singaporean household will receive $300 worth of Community Development Council vouchers, comprising $200 under the Assurance Package and another $100 from the $1.5 billion Support Package announced in October 2022, the ministry said.

These can used at participating heartland merchants and hawkers, as well as supermarkets.

In February 2023, lower-income Singaporeans aged 55 years and above will receive up to $300 in cash and $150 in their CPF MediSave accounts.

Singaporean children aged 20 years and below will also receive $150 in their MediSave accounts.

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This article was first published in The Straits Times. Permission required for reproduction.