GST Voucher and Support Packages 2020: How Much Will You Be Getting?
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GST Voucher and Support Packages 2020: How Much Will You Be Getting?

Ming Feng
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Goods and Services Tax(GST) Announcements of Budget 2020

Good news! Budget 2020 announced that the GST hike will not happen in the year 2021.

Lim pei like your idea

GST Voucher: “Give You Chicken Wing, Take Back The Whole Chicken.”

If you searched ‘GST voucher’, you’ll find tonnes of sceptical comments left by average Singaporeans on social media.

Some of the more interesting comments we came across are:

  • “The more they give you, the more they take back”
  • “Candies for everyone… This means that the General Election is near.”
  • “Give you chicken wing, take back the whole chicken.”

While some of these comments may hold certain truth to it, I decided to adopt a more positive way of looking at the GST voucher and all the benefits from the government.

You know the expression of whether a glass is half empty or half full?

On Resilience Budget 2020
Source: Sgag

And from the way I see it… My cup is half full.

I mean, it’s better than nothing right?


TL;DR: How Much GST Voucher and Support Packages Will I Be Getting?

Updated With Details From Unity Budget 2020, Resilience Budget 2020, Solidarity Budget 2020 and Fortitude Budget

Do note that there will be a one-off $100 Solidarity Utilities Credit for households with at least 1 Singaporean.

We are now in closing into August 2020. Most of us would have received the Passion card top-up in cash, the Care and Support package in June and the Solidarity utilities credit.

Here’s an updated list of benefits from the Government moving forward:

GST Vouchers 2020

 

Good news!

In August, eligible Singaporeans above the age 21 will be receiving their GST Voucher in cash.

We updated the article to drop you an update on GST vouchers from Unity Budget 2020, Resilience Budget 2020, Solidarity Budget 2020 and Fortitude Budget.

The Care and Support Package can be broken down into different types of benefits:

  • Cash Payout to eligible Singaporeans
  • PAssion Card top-up (paid in cash) to Singaporeans aged 50 and above
  • Workfare Special Payment for low-wage workers aged 35 and above in 2019
  • Grocery Vouchers for needy Singaporeans
  • U-Save to offset HDB flat’s utility bills
  • Service and Conservancy Charges (S&CC) Rebate

There will be a Care & Support payout for Singaporeans.

Something we added in for us Singaporeans to know is the various initiatives such as PAssion Card top-up.

In form ofHow much?Who is eligible?When?
Solidarity Payment

($300 + $300 from August's Care & Support brought forward)
$600Singaporeans aged 21 and above in 2020April 2020
Care and Support
(Cash)
$300 or $600

($300 of August's payout is brought forward to April)
Singaporeans aged 21 and above in 2020June 2020
PAssion Card top-up
(will be paid in cash)
$100Singaporeans aged 50 and above in 2020June 2020
Additional Care and Support
(Cash)
$300Every adult Singaporean with at least 1 Singaporean child aged 20 and below in 2020June 2020
Workfare Special Payment$3,000Low-wage workers aged 35 and above in 2019July and October 2020

($1,500 each time)
Solidarity Utilities Credit
(credited in household's utilities bills with SP Group)
$100Households with at least 1 SingaporeanJuly or August 2020
GST Voucher
(U-Save)
$480 - $1,000EHDB households with at least 1 SingaporeanApril, July, October 2020 and January 2021
Service and
Conservancy
Charges
(S&CC) Rebate
Off set 1.5 - 3.5
months of S&CC
Eligible Singaporean households
living in HDB flats
April, July, October 2020 and January
2021
GST Voucher
(Cash)
$150 or $300Singaporeans aged 21 and above in 2020 with annual income below $28,000 and annual value of property below $21,000August 2020
GST Voucher
(MediSave)
$150 - $450Singaporeans aged 65 and above in 2020 with Annual Value of home ≤ $21,000, and do not own more than one propertyAugust 2020
Additional GST Voucher
(U-Save)
$120 - $200Households with 5 or more membersOctober 2020 and January 2021
Grocery Vouchers$300
(in the year 2020)

$100
(in the year 2021)
Singaporeans aged 21 and above in 2020, live in 1-room and 2-room HDB flatsEnd 2020 and 2021

Solidarity Utilities Credit

Recently announced during the Fortitude Budget, there will be a one-off $100 Solidarity Utilities Credit to help Singaporeans offset a portion of the utility bills given the current work from home situation.

This Solidarity Utilities Credit will be credited into households’ July or August 2020 utility bills with SP Group. All property types covered!

Any households with at least one Singapore Citizen will be automatically included for this credit.


How Much Care and Support- Cash and Solidarity Payout Will I Get?

To give an overview of how much cash payout you will receive, here’s a clearer illustration:

Assessable Income for YA 2019Total Cash Payout

(with the additional $300 announced in Solidarity Budget)
Payment in April 2020Payment in June 2020
$28,000 and below$300 + $900 = $1,200$600$600
Above $28,000 to $100,000$300 + $600 = $900$600$300
More than $100,000

(or own more than 1 property)
$300 + $300 = $600$600-

Cash is king! There will be a few different types of cash payout Singaporeans will receive.

GST Voucher- Cash

Assessable income for the year 2019Up to $13,000

(Annual Value of Home as at 31 Dec 2019)
$13,001 to $21,000

(Annual Value of Home as at 31 Dec 2019)
Cash

(Enhanced Quantum)
$300$150

This GST Voucher- Cash will payout in August 2020.

Here’re the factors, payout dates, and cash amounts you’ll (potentially) be getting at a glance:

Assessable income for the year 2019$0 - $28,000$28,001 - $100,000More than $100,000
or
own more than 1 property
Cash

(Enhanced Quantum)
$900$600$300
If you are a parent

(Enhanced Quantum)
$300

Of the above payout that is supposed to pay out in August, $300 is now being brought forward to April 2020 to provide immediate assistance for Singaporeans.

In Budget 2020, the Government announced that on top of the regular U-Save GST Vouchers, Singaporeans will receive

  • A one-off GST Voucher (U-Save Special Payment) for eligible HDB households
  • An additional GST Voucher (U-Save rebate) for households with five or more members.

On top of that, Singaporeans with at least one Singaporean child (under 20 years old in 2020) will get an extra $300 cash payout on top of everything else announced.

Requirements For GST Voucher Cash Payout

While requirements to receive GST Vouchers this time round has yet to be announced, here are some criteria used in last year’s Budget:

To be eligible for the GST Voucher Cash Payout, you must:

  • Be a Singaporean living in Singapore
  • Be 21 years old and above (in 2020)
  • Not own more than 1 property

The other factors that will affect the amount of cash you receive are:

  • Income Earned in 2018 as assessed by IRAS (assessable income for the year of assessment 2019)
  • Annual Value of home as of 31 December 2019

The Annual Value Of Home (AV) is the estimated yearly rental which your property can get you if you were to rent it out. The calculation excludes furniture, furnishings and maintenance fees.

Where Can I Find The AV Of My Home?

For those of you going, “Simi AV of my home? Where to find ah?”

I gotchu fam.

You can find the AV of your home on your yearly property tax bill. That is if you file your correspondences properly…

Alternatively, you can login to myTax Portal using your SingPass/IRAS PIN > Messages > Correspondence & Notices > Property Tax > Letters/Notices.

You’re welcome.


How Much GST Voucher MediSave Top-up Will I Get?

To be eligible for the GST Voucher MediSave Top-up, you must:

  • Be a Singaporean living in Singapore
  • Be 65 years old and above (in 2020)
  • Not own more than 1 property
Huat Ah Singapore
Source: memecrunch

Also, depending on the AV of your home (the address that is listed on your NRIC) as of 31 December 2019, here’s the amount of MediSave Top-up you will receive:

Age in 2020Annual Value of Home as at 31 Dec 2019
Up to $13,000From $13,001 to $21,000
65 to 74$250$150
​75 to 84$350$250
85 and above$450$350

How Much GST Voucher U-Save Will I Get?

One of the perks of staying in an HDB is the U-Save you will receive.

FYI, the amount is pegged to the flat type you stay in.

If you’re wondering what U-Save credits can be used for, well, you can use them to offset your ridiculously expensive utility bills (looks at SP group).

 

Type of HDB FlatRegular GST Voucher
(U-Save)
GST Voucher for eligible households only
(U-Save Special Payment)
Further GST Voucher

(For households with five or more members)
Total GST Vouchers
(U-Save for the year 2020)
1-room and 2-room$400$400$200$800 or $1,000
3-room$360$460$180$720 or $900
4-room$320$320$160$640 or $800
5-room$280$280$140$560 or $700
Executive/ Multi-Generation$240$240$120$480 or $600

The regular GST Vouchers (U-Save) will be paid over four payments in April 2020, July 2020, October 2020 and January 2021.

Requirements For GST Voucher U-Save

Only HDB flat households will be eligible for GST Voucher U-Save. To be eligible, you need to

  • Own and live in your HDB flat, there must be at least one Singapore citizen owner or occupier in the flat; or
  • Partially rent out the HDB flat that you own and live in, there must be at least one Singapore citizen owner or occupier in the flat; or
  • Rent an entire flat, there must be at least one Singapore citizen tenant;

If you own more than one property, you are not eligible for the GST Voucher – U-Save.

On top of that, eligible households will also receive Service and Conservancy Charges (S&CC) rebates. S&CC are charges that are incurred by HDB owners for the upkeep of their common property.

Here’s a look at how many months of S&CC rebates you are eligible for:

Types Of Flat You Stay InAmount of S&CC Rebate in number of monthsTotal S&CC Rebate
January 2019April 2019July 2019October 2019
1-room flat1110.53.5 months
2-room flat1110.53.5 months
3-room flat10.50.50.52.5 months
4-room flat10.50.50.52.5 months
5-room flat0.50.50.50.52 months
Executive/ Multi-Generation0.50.50.5-1.5 months

Understanding Service and Conservancy Charges (S&CC)

If you’re looking at the number of months of S&CC rebates your household is eligible for, and are going, “Chey… 3.5 months. Like nothing really much leh…”

WRONG.

S&CC charges can range from $54.70 for a 1-room HDB flat to $101 for an Executive. And that’s EVERY MONTH.

Here’s a full list of the Service and Conservancy Charges (S&CC) that various HDB owners are paying:

Types Of Flat You Stay InNormal RateReduced Rate
1-room flat$54.20$20.50
2-room flat$56.70$30.50
3-room flat$63.00

$79.50
(Design-Build-and-Sell Scheme)
$46.00

$62.50
(Design-Build-and-Sell Scheme)
4-room flat$72.50

$88.00
(Design-Build-and-Sell Scheme)
$63.50

$79.00
(Design-Build-and-Sell Scheme)
5-room flat$99.50-
Executive/ Multi-Generation$101.00-

Grocery Vouchers and Workfare For The Lower-Income Households

Grocery vouchers worth $400 will be given to needy Singaporeans over two years. This will take place in the year 2020 and 2021.

The grocery voucher is for Singaporeans who

  • Are aged 21 and older
  • Live in one- or two-room HDB flats
  • Do not own more than one property

This grocery vouchers can be used at major supermarkets to help this group of Singaporeans with their cost of living.

There will also be an increase of 20% payment for work done in 2019, with a minimum payment of $100. This will be given in cash.


PAssion Card Top-Up for Seniors

For Singaporeans aged 50 and above, mainly the Pioneer and Merdeka Generation seniors, there will be a $100 PAssion Card top-up for them to use on groceries, activities and facilities at community clubs, and more. This amount will now be given out in the form of cash.

About Ming Feng
A stint in Bloomberg gifted me with a beer belly, which only grew larger when I moved on to become a Professional Trader. Now I turn caffeine into digestible finance-related content.
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