SINGAPORE: More than 1.5 million Singaporeans will receive up to S$850 (US$670) in cash payouts as part of the Goods and Services Tax Voucher (GSTV) scheme next month, the Ministry of Finance said on Monday (Jul 7).
The assessable income threshold for GSTV – Cash payouts will also be raised from S$34,000 to S$39,000 “as the incomes of lower- and middle-income Singaporeans have improved”, MOF said in a media release.
This will “maintain the coverage of the scheme”, the ministry added.
Adult Singaporeans with assessable incomes of up to S$39,000 and living in homes with annual values of up to S$21,000 will receive S$850, while those whose homes have annual values of between S$21,000 and S$31,000 will receive S$450.
At the same time, about 690,000 eligible Singaporean seniors will also receive between S$150 and S$450 in MediSave top-ups as part of GSTV – MediSave.
