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More money is on its way after the SG60 vouchers. In August, over 1.5 million eligible adult Singaporeans will get up to S$850 in cash as part of the GST vouchers (GSTV) scheme, based on their Assessable Income for the Year of Assessment 2024 and home’s Annual Value (AV), said the Ministry of Finance (MOF) in a press statement on Mon (7 Jul).
As the incomes of lower- and middle-income Singaporeans have increased, the Assessable Income threshold will also be raised from S$34,000 to S$39,000 to maintain the coverage of the scheme. This will take effect from August this year, said MOF.
As part of GSTV – MediSave, about 690,000 eligible Singaporean seniors will get up to S$450 in MediSave top-ups, which will be credited to their CPF MediSave Accounts.
Lower- to middle-income Singaporeans and households have been receiving help to defray their GST and daily expenses through the permanent GSTV Scheme. A total of S$1.5 billion will be disbursed under the GSTV – Cash and GSTV – MediSave schemes, as part of the GST Voucher scheme this year. This is on top of the other support that citizens will receive in the Financial Year (FY) 2025, including the recently disbursed SG60 vouchers.
When will the GST vouchers be credited to me?
Eligible recipients will automatically receive the payments via PayNow from 6 Aug if they have linked their NRIC to PayNow via their bank, said MOF. Those who opted for Giro will get the money from 15 Aug, while those who chose GovCash will get theirs from 22 Aug.
Citizens are able to check their eligibility for these schemes and sign up for these benefits at the govbenefits website (govbenefits.gov.sg) by logging in with their Singpass account.
Eligible recipients of the GSTV – Cash and GSTV – MediSave will be notified via SMS from Aug after the money has been credited. Recipients without a Singpass-registered mobile number will be informed via a letter sent to the address on their Singapore Identity card.
To safeguard against scams, the SMS notification from “gov.sg” will only inform citizens of their benefit(s). Citizens will not be asked to reply to the SMS, click any links, or provide any information to the sender. Government officials will never ask you to transfer money.
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