In July, approximately 950,000 Singaporean households residing in HDB flats will get their second quarterly Goods and Services Tax Voucher (GSTV) – U-Save and GSTV – service and conservancy costs (S&CC) rebates.
These reimbursements are included in the enhanced permanent GSTV system and Household Support Package announced in the February 2022 budget.
The Ministry of Finance (MOF) said on Friday that they will give "continued assistance" to lower- to middle-income Singaporean households to offset the GST and other living expenditures (Jul 1).
Singapore's cost of living is increasing as a result of rising global energy and food costs and supply chain disruptions.
The government has stated that a forthcoming hike in the Goods and Services Tax (GST) would not be postponed despite growing inflation, and has proposed a number of initiatives to assist Singaporeans with rising prices.
Under the improved GSTV program, eligible households would receive GSTV – S&CC refunds to cover between 1.5 and 3.5 months of their S&CC expenses annually. In April, July, October, and January, rebates are distributed.
In February, Finance Minister Lawrence Wong announced that the GST Voucher - U-Save rebates would be doubled for the remainder of the year.
According to the Finance Ministry, this is equivalent to eight to ten months' worth of utility expenses for the ordinary household living in a 1- or 2-room HDB unit.
This is around four to six months' worth of utility costs for the average household residing in a 3- or 4-room HDB apartment.
According to MOF, households whose members own several properties are ineligible for GSTV – U-Save.
Additional rebates will be awarded to qualified households throughout the same four quarters as their regular GSTV - U-Save.
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