Minister for Finance Lawrence Wong introduced at this time (June 21) that about 1.5 million Singaporeans will receive up to S$300 cash in a particular GST Voucher cost in August.
That is on high of the common GSTV-Cash quantities they had been meant to receive in 2022. In complete, GSTV-Cash recipients will receive up to S$700 in August this yr
In accordance to Wong, this may profit about 1.5 million lower-income to middle-income employees, in addition to retirees with out revenue.
As well as, all Singaporean households — together with these residing in personal property — can even receive a S$100 utilities credit score by September to assist offset their payments.
On the Price range 2022 held earlier in February, Wong had introduced that the Authorities would add S$640 million to the S$6 billion Assurance Bundle and enhance the GST Voucher scheme.
The improved Assurance Bundle, introduced in 2020, is supposed to cowl a minimum of 5 years of extra GST bills for almost all of Singaporean households, and about 10 years for lower-income households.
For the reason that bulletins had been made, the worldwide progress and inflation atmosphere has confirmed to be “tougher”, mentioned Wong, but it surely asserts that Singapore is in a “stronger place” to take care of these financial challenges as in contrast to different nations.