Singapore GST Vouchers December 2024: Do you know that the Singapore government gifts GST vouchers to its citizens every year? These vouchers reach your bank account directly and help reduce the burden of your expenses. In the year 2024 also, the government has continued this scheme and given many new updates. If you are keen to know who is eligible for this, how much amount is to be received, and when this amount will come to your account, then this article is for you. Let us give you complete information about all these aspects so that you can take advantage of this scheme.
Have you ever felt that after paying tax, the government is probably thinking about you too? The Singapore government has really done this. The GST Voucher Scheme, which was launched in 2012, is a great example of this. The main objective of this scheme is to provide relief to low and middle-income families in their daily expenses.
The government has created this scheme especially for those people who have limited income and who struggle with the burden of Goods and Services Tax (GST). This scheme ensures that a part of the tax being collected from everyone is returned to the needy.
Singapore GST Vouchers December 2024: Why and how?
Singapore currently has a GST rate of 8%, which applies to all household goods and services. When you pay this tax even for your everyday needs, it can obviously be burdensome for low-income families. To reduce this, the government introduced the GST Voucher Scheme.
Types of assistance provided under the Singapore GST Vouchers scheme
There are four major types of assistance provided under the scheme:
- Cash: Which can meet the small expenses of the family.
- MediSave: Especially for senior citizens, which helps in their health expenses.
- U-Save: Relief in electricity and water bills.
- S&CC Rebate: Discount in care and maintenance of HDB (Housing and Development Board) flats.
The scheme aims to ensure that assistance reaches directly to those who need it most.
GST Voucher – Cash
The first part of the GST Voucher Scheme is Cash, which will be provided to eligible citizens in August 2024. This amount will be transferred directly to their bank account, which will help in daily expenses.
Eligibility conditions:
- The person should be a citizen of Singapore.
- Age 21 years or above in 2024
- Assessable Income (AI) of 2022 should be less than $34,000.
- Annual Value (AV) of the house should be less than $25,000.
- The person should have only one property in his name.
Eligibility and cash assistance information (Table)
| AV of Home (as of 31 Dec 2023) | AI ≤ $34,000 | GST Voucher – Cash Amount |
| Up to $21,000 | Yes | $850 |
| More than $21,000 – $25,000 | Yes | $450 |
This cash amount is especially helpful for those families whose income is limited. This amount gives relief in their daily expenses and provides them some financial stability.
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GST Voucher – MediSave
The MediSave scheme is especially for those citizens who are 65 years of age or above. It is deposited in the CPF MediSave account so that senior citizens can easily meet their health-related expenses. This too will be provided in August 2024 itself.
Eligibility and assistance amount (Table)
| Age in 2024 | AV of Home (≤ $21,000) | AV of Home ($21,001 – $25,000) | MediSave Amount ($) |
| 65-74 | $250 | $150 | $250 |
| 75-84 | $350 | $250 | $350 |
| 85+ | $450 | $350 | $450 |
This scheme ensures that senior citizens do not worry about their health expenses. Especially in this era of expensive treatment, this scheme is a big relief for the senior citizens of Singapore.
GST Voucher – U-Save
In view of the rising electricity and water bills, the government has tried to provide relief to the families under the U-Save scheme. For FY 2024, under the Assurance Package, the regular benefit of U-Save has been increased to 2.5 times.
Eligibility and assistance amount (Table):
| HDB Flat Type | Jan 2025 | Apr 2024 | Jul 2024 | Oct 2024 | Total Amount ($) |
| 1- and 2-room | $95 | $95 | $95 | $95 | $950 |
| 3-room | $85 | $85 | $85 | $85 | $850 |
| 4-room | $75 | $75 | $75 | $75 | $750 |
| 5-room | $65 | $65 | $65 | $65 | $650 |
| Executive | $55 | $55 | $55 | $55 | $550 |
This scheme not only reduces the burden of bills but also ensures that energy and water utility is maintained in homes.
GST Voucher – S&CC Rebate
The Service and Conservancy Charges (S&CC) Rebate scheme is designed to reduce the maintenance and other upkeep expenses of HDB flats. In FY 2024, this rebate will be provided for up to 4 months.
Eligibility and assistance amount (Table):
| HDB Flat Type | Apr 2024 | Jul 2024 | Oct 2024 | Jan 2025 | Total Rebate (months) |
| 1- and 2-room | 1.0 | 1.0 | 1.0 | 0.5+0.5 | 4.0 |
| 3-room | 1.0 | 0.5 | 0.5 | 0.5+0.5 | 3.0 |
| 4-room | 0.5 | 0.5 | 0.5 | 0.5 | 2.5 |
| Executive/multi-gen | 0.5 | 0.5 | 0.5 | 0.5 | 2.0 |
This scheme ensures that citizens living in HDB flats do not have to worry about maintenance expenses.
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Eligibility and application process
Those who are already registered for any government scheme (such as GSTV 2023) do not need to apply for a new one.
- Cash and MediSave amounts will be given via PayNow (NRIC-linked), bank transfer or GovCash.
- U-Save and S&CC rebates will be credited directly to utility and maintenance accounts.
Key details:
- Assessable Income (AI): Income (after all deductions and donations).
- Annual Value (AV): Estimated rent of the house.
Conclusion
The GST Voucher Scheme is a commendable move by the Singapore government, which shows that along with collecting taxes, its correct return can also be taken care of. This scheme is especially beneficial for citizens who have limited income. If you are eligible, wait for your assistance amount and think that the government also does something good for you sometimes.
