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International Business Times
07-07-2025
- Business
- International Business Times
Government Raises Income Limit for GST Voucher Scheme; 1.5M Singaporeans to Receive Cash Payouts in August
The Ministry of Finance said on Monday, July 7, that over 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 in August 2025. MOF said in a media release that the assessable income threshold for GSTV i.e. 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". According to the ministry, this will "maintain the coverage of the scheme". Adult Singaporeans who earn up to S$39,000 in assessable income and who own homes worth up to S$21,000 will receive S$850, while those whose homes are worth between S$21,000 and S$31,000 will receive S$450. As part of GSTV-MediSave, approximately 690,000 senior citizens in Singapore who qualify will also receive MediSave top-ups ranging from S$150 to S$450. For more details regarding their eligibility for the payouts, Singaporeans can check the govbenefits website. If eligible recipients have previously registered for GSTV-Cash and GSTV-MedSave, they will begin receiving their payments automatically on August 6. When their benefits have been credited, they will receive a letter or an SMS. According to MOF, a total of S$1.5 billion will be distributed during this GSTV exercise.
AsiaOne
07-07-2025
- Business
- AsiaOne
Eligible Singaporeans to receive up to $850 cash, $450 MediSave top-ups in August, Singapore News
Over 1.5 million eligible adult Singaporeans who are aged 21 and above will receive up to $850 in cash as part of the Goods and Services Tax Voucher (GSTV) scheme in August, said the Ministry of Finance (MOF) on Monday (July 7). In addition to the cash payouts, around 690,000 eligible seniors will benefit from MediSave top-ups of up to $450. Those who are eligible will also receive $150 to $450, depending on their age and Annual Value (AV) of their home. These will be automatically credited to the eligible senior's CPF MediSave Accounts, with the amount determined by the recipient's age and AV of their home. The government will also raise the Assessable Income (AI) threshold for GSTV — Cash payouts from $34,000 to $39,000 as "the incomes of lower- and middle-income Singaporeans have improved", said MOF. The ministry added that this will "maintain the coverage of the scheme". Eligible Singaporeans can check their eligibility for the payouts on the govbenefits website by logging in with their Singpass. According to MOF, a total of $1.5 billion will be disbursed this year through both the GSTV — Cash and GSTV — MediSave components. This is in addition to other forms of support that Singaporeans can expect in Financial Year 2025. [[nid:719875]]
