The Goods and Services Tax (GST) Voucher scheme in Singapore is designed to help lower- and middle-income Singaporean households with their expenses. While the specific eligibility criteria can vary from year to year based on government policy and budget allocations, generally, the eligibility for the GST Voucher in 2024 would likely include factors similar to previous years, such as:
- Citizenship: You must be a Singaporean citizen, residing in Singapore.
- Age: Typically, you need to be aged 21 or above in the year of receiving the GST Voucher.
- Income: There is usually an annual income threshold that you must not exceed to qualify for the cash and Medisave components of the GST Voucher. This assessable income is often based on your income declared to the Inland Revenue Authority of Singapore (IRAS) for a specific assessment year.
- Property Ownership: Your annual value of home as assessed by IRAS should fall below a certain limit. This is to target the voucher at those living in lower- to middle-value properties, which is a proxy for wealth.
- Residency: For some components of the GST Voucher, such as the U-Save rebate which helps households with their utility bills, the eligibility also includes living in an HDB flat.
The GST Voucher scheme usually has multiple components:
- Cash: For direct cash assistance.
- Medisave: Contributions to help with medical expenses.
- U-Save: Rebates to offset utility bills, directly credited to eligible households’ utilities accounts.
To check your specific eligibility for the GST Voucher in 2024, including any updates or changes to the criteria, it’s best to visit the official GST Voucher website or use the eligibility checker available on the site. The Singapore government often updates these details to reflect current economic conditions and policy objectives, aiming to target the assistance where it is most needed.