In Singapore, the GST Voucher scheme is a government initiative aimed at providing support to lower- and middle-income Singaporeans to help offset some of the Goods and Services Tax (GST) expenses they incur. The scheme consists of various components, including cash payments, Medisave top-ups, and U-Save rebates.
The eligibility for the $700 GST Voucher cash payout typically falls under the following criteria:
- Income Level: Individuals who are Singaporean citizens aged 21 years and above, and who have an annual income of up to $28,000, are eligible for the $700 GST Voucher cash payout.
- Annual Assessable Income: The $700 cash payout is specifically targeted at lower-income individuals. The scheme considers the annual assessable income, which includes various sources of income such as employment, rental income, and dividends, among others.
- Property Ownership: Additionally, the eligibility for the $700 cash payout considers whether the individual owns more than one property. Individuals who own more than one property are not eligible for the full $700 cash payout.
- Marital Status: For married individuals, the combined annual assessable income of both spouses is taken into account to determine eligibility.
It’s important to note that the criteria and amounts for the GST Voucher scheme can change from year to year, and the information provided is based on the current criteria
To check your specific eligibility and the amount you are entitled to receive under the GST Voucher scheme, you can visit the official GST Voucher website or the Singapore Ministry of Finance website. They provide detailed information, online tools, and calculators that allow individuals to check their eligibility and estimated payout amounts based on their personal circumstances. Additionally, you can contact the relevant authorities or government agencies for personalized assistance and clarification regarding your eligibility for the $700 GST Voucher cash payout.