Complete GST Voucher 2023 + Assurance Package 2023 Guide: A Government Payout 2023 Summary

Government Payout 2023: How Much Is the Next GST Payout?

If you conducted a general search for Goods and Services Tax (GST) Voucher, you’d find a boatload of sceptical comments left by Singaporeans on social media.

Some of the more interesting comments we came across are:

• “The more they give you, the more they take back”
• “Give you chicken wing; take back the whole chicken.”

While some of these comments may indeed have some truth to them.

I decided to look at the GST Vouchers (GSTV) and the other benefits the Government gives as something positive.

Do you know the expression about a glass being half empty or half full?

The way I see it, it’s better than getting nothing right…

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TL;DR: Ultimate GST Voucher (GSTV) 2023 + Assurance Package (AP) 2023 Guide — How Much Are the GST Vouchers?

At the Budget 2023 speech, Deputy Prime Minister and Minister for Finance Lawrence Wong announced updates to the permanent Enhanced GST Voucher (GSTV) scheme and the transitory Assurance Package (AP) for 2023.

These two support schemes mainly help lower to middle-income Singaporean households cope with the rising cost of living due to events like GST being raised from 7% to 8% in 2023 and to 9% in 2024.

Singapore Budget Bonus 2023 Cash Payout, Assurance Package and GST Voucher 2023 Payout Dates

With that, here is an overview of how much Government support each scheme provides, how much you may get, as well as the GST Voucher 2023 and Assurance Package payout dates:

Psst… if you’re super kiasu about collecting money from the Government…

Log in to your Seedly account and save this article for quick reference, as we’ll update it regularly.

Find Out How Much GST Voucher Will I Get (2023): Click to Teleport

GST Voucher (GSTV) / GST Package 2023

• What Is the GST Voucher Scheme (2023)?
• Enhanced GST Voucher Cash 2023
• GST Voucher MediSave 2023
• GST Voucher U-Save Rebate 2023
• GST Voucher Service and Conservancy Charges (S&CC) Rebate 2023

Assurance Package (AP)

• Assurance Package 2023 For GST
• Assurance Package 2023: Cash Payout
• Assurance Package 2023: CDC Vouchers
• Cost of Living (COL) Special Payment 2023
• Cost of Living (COL) Seniors’ Bonus 2023
• AP Seniors’ Bonus (Previously GST Voucher – Cash Seniors’ Bonus)
• COL U-Save Special Payment
• Assurance Package 2023: MediSave Top-ups
• Top-ups to Child Development Account (CDA), Edusave Account, and Post-Secondary Education Account (PSEA)
• Top-ups to Citizens’ Consultative Committee ComCare Fund & Grants to Self-Help Groups

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What Is the GST Voucher Scheme (2023)?

The permanent GSTV scheme was first introduced in Budget 2012 to help lower, and middle-income Singaporeans cope with GST hikes.

For Budget 2023, this scheme was enhanced yet again.

According to the Ministry of Finance (MOF), about 1.5 million Singaporeans will stand to receive higher cash payouts under the GSTV scheme every year.

These enhancements will cost the Government an added $530 million a year, bringing the total cost of the GSTV scheme to $1.7 billion annually from 2024.

As long as you’re eligible, you can expect to collect four different GSTV components throughout the year:

• GSTV – Cash
• GSTV – MediSave
• GSTV – U-Save
• GSTV – Service and Conservancy Charges (S&CC) Rebate.

Let’s dive into them now.

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Enhanced GST Voucher Cash 2023

First up, we have the GST Voucher – Cash component. As announced in Budget 2023, this component will be enhanced.

Enhanced GST Voucher 2023 Eligibility: Who is Eligible for GST Voucher?

But for 2022 and beyond, the annual assesable income cap will be raised from $28,000 to $34,000. More than 1.5 million adult Singaporeans will receive the enhanced GSTV Cash for the payout in August 2023.

Here are the updated criteria for the Enhanced GSTV – Cash payouts in 2023:

• You must be a Singapore citizen residing in Singapore
• You must be aged 21 or above in 2023
• Income earned in 2021 as assessed by IRAS (Assessable Income) for the Year of Assessment (YA) 2022 must not exceed $34,000;
• The Annual Value (AV) of your home (as indicated on your NRIC) must not exceed $21,000
• You must not own more than one property.

Enhanced GST Voucher Amount and Timeline

Source: MOF 

As seen in the table above, the GSTV – Cash payout amount will also be increased by up to $350 in two steps:

• (1) 2023: All GSTV-Cash recipients will receive up to $200 more than last year’s rates.
• (2) From 2024: All GSTV-Cash recipients will receive up to $150 more than 2023’s rates from 2024 onwards.

Enhanced GST Voucher 2023 Cash Payout Timeline: Government Payout $700 and $350

All eligible Singaporeans can receive $350 or $700 in GSTV Cash payouts from 1 Aug 2023.

How to Check GST Eligibility Online Using Singpass: A Guide to Checking GST Voucher on the GST Portal

If you are unclear about how much GST Voucher you’ll be getting, you can simply head on over to the GST voucher site and log in to your Singpass:

 

When is the Payout Happening for GST Voucher – GSTV and GST Voucher Cash Special Payment (2023)?

If you want to ensure you get your money by 1 Aug 2023, you’ll need to set up your PayNow and get it linked to your NRIC.

However, if you don’t have PayNow or haven’t linked it to your NRIC, it’ll be directly credited to your DBS/POSB, OCBC or UOB bank account later.

Otherwise, from 2022, GovCash will replace cheques as the mode of payment for citizens who have not provided their bank accounts or linked their NRICs to PayNow.

Citizens on GovCash can withdraw their GSTV – Cash and GSTV – Cash Special Payment at OCBC ATMs islandwide by entering their Payment Reference Number (PRN), which will be sent to them by the end of August 2023 and NRIC, and after passing the facial verification.

They do not require an OCBC bank account to withdraw the payment at the OCBC ATMs. GovCash recipients can also use the LifeSG app to make payments to merchants by scanning their PayNow or NETS QR code or transfer payments to their bank accounts via PayNow if they subsequently register for PayNow-NRIC.

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GST Voucher MediSave 2023

Next, we have the GSTV – MediSave component, which benefits elderly Singaporeans. Eligible Singaporeans will receive the payout in August 2023.

GST Voucher – MediSave Eligibility

All elderly Singaporeans who meet the following criteria will receive the GSTV – MediSave top-up:

• Are aged 65 and above
• Whose residential address is a property that does not exceed an AV of $21,000
• Do not own more than one property.

GST Voucher – MediSave Amount and Timeline

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GST Voucher U-Save Rebates 2023 (Utilities Rebate 2023)

Next up, we have the GSTV – U-Save component.

This component will benefit the 950,000 Singaporean households that stay in Housing and Development Board (HDB) flats.

GSTV U-Save Eligibility

But, these Singaporean households need to meet the following criteria:

• Households must have at least one Singaporean as the owner, occupier, or tenant of the HDB flat
• Household members cannot own more than one property.

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

And if your U-Save rebate is higher than your actual monthly utility bill, the unused portion will be rolled over to next month’s bill.

Btw, you don’t have to do anything or register for this payout.

You’ll automatically receive the U-Save rebates on your utility bills if you qualify:

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GST Voucher Service and Conservancy Charges (S&CC) Rebate 2023

As announced in this year’s budget, the S&CC rebate will become a permanent fixture of the GSTV scheme from FY2022.

This component benefits about 950,000 eligible Singaporean households that stay in Housing and Development Board (HDB) flats yearly.

These households will receive between 1.5 to 3.5 months of S&CC rebates in FY2023.

GSTV S&CC Rebates Eligibility

But, these Singaporean households need to meet the following criteria:

• Households must have at least one Singaporean as the owner, occupier, or tenant of the HDB flat
• Households with a member owning or having any interest in a private property or having rented out the entire flat are not eligible for the S&CC rebate.

GSTV S&CC Rebates Amount and Timeline

Understanding Service and Conservancy Charges (S&CC)

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

WRONG.

Let’s say you lived in a 4-room flat in Toa Payoh-Bishan, and your reduced S&CC charges are about ~$860 ($71.60X12) a year.

With the rebates, you would save $250.60 ($74X3.5) a year!

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Assurance Package Budget 2023

At Budget 2020, the Government announced a transitory $6 billion AP to soften the blow of the planned GST hike for Singaporeans.

This was boosted to $6.6 billion in Budget 2022.

For Budget 2023, Minister Wong announced that the Government will top up $3 billion to the AP, bringing the total amount given by the AP to $9.6 billion.

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Assurance Package 2023 Cash Payout [Enhanced at Budget 2023]

The first component of the AP is the AP Cash Payouts.

For this component, all Singaporeans aged 21 years and older will be receiving additional cash payouts ranging from $300 and $650 over the remaining years of the AP, in December every year, with the amount determined by their assessable annual income and property ownership status in the table below.

This will bring the total AP Cash payments received by adult Singaporeans to between $700 and $2,250 over five years.

Assurance Package 2023: Cash Payouts Amount and Timeline

Source: MOF
Note: The year of assessment (YA2022) for the AP cash payout will remain the same from 2022 to 2026.

Check Assurance Package 2023 Eligibility

If you are a Singaporean citizen, you may check your AP Cash and Cost-of-living (COL) payout via our Step-by-Step Guide to Checking Your Government Benefits for 2023 and Beyond:

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AP: CDC Vouchers 2023 [Enhanced at Budget 2023]

Last but not least, the Government will partner with the CDCs to distribute an additional $100 worth of CDC vouchers in January 2024 to all Singaporean households. These CDC vouchers are given out in addition to the $200 worth of CDC vouchers announced in Budget 2022.

More specifically, in January 2024, about 1.3 million Singaporean households will receive $300 in CDC Vouchers.

Source: MOF
Note: $300 CDC Vouchers in 2023 comprise of: (a) $200 CDC Vouchers from the AP; and (b) $100 CDC Vouchers from the $1.5 billion Cost-of-Living package announced in October 2022.

CDC Voucher Expiry, How to Redeem CDC Voucher, Where to Use CDC Voucher & How to Use CDC Voucher

If you were wondering how to use CDC vouchers, check out our CDC Voucher guide below:

All in all, these vouchers will help all Singaporean households cope with their daily expenses and be used at participating heartland businesses and supermarkets.

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AP: Cost of Living Special Payment 2023 — What is Cash Special Payment?

Arguably, most Singaporeans will be looking at the one-off Cost-of-Living (COL) Special Payment amounting to between $200 and $400 cash in June 2023.

Here are the details on eligibility and how much you might receive.

FYI: about 2.5 million adult Singaporeans will stand to benefit.

Cost of Living (COL) Special Payment 2023 Eligibility

• Singaporeans aged 21 or above in 2023;
• Assessable Income (AI) not more than $100,000; and
• Does not own more than one property.

Note that there is no need to apply, you will be assessed, and the money will be distributed automagically.

COL Special Payment 2023 Amount

Here is the COL Special Payment amount and specific qualifying criteria:

Source: MOF

How to Check Government Payout: How Much Cost-of-Living (COL) Payout You Can Recieve?

If you are a Singaporean citizen, you may also check your Cost-of-living (COL) and AP Cash payout using our Step-by-Step Guide to Checking Your Government Benefits for 2023 and Beyond:

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AP: Cost of Living Seniors’ Bonus 2023 / GST Senior Bonus 2023

In addition, the Government is giving cash payouts ranging from $200 to $300 in June 2023 for about 850,000 lower-income Singaporean seniors through this special one-off COL Seniors’ Bonus.

Note that this one-off COL Seniors’ Bonus is given in addition to the AP Seniors’ Bonus which eligible seniors will receive in February 2023.

Cost of Living (COL) Seniors’ Bonus 2023 Eligibility

To receive this bonus, you must fulfil all of the following criteria:

• Singaporean citizens aged 55 and above
• AI of not more than $34,000.
• Residential address is a property with an AV that does not exceed $21,000
• Do not own more than one property.

COL Seniors’ Bonus 2023 Amount

Source: MOF

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AP Seniors’ Bonus (Previously GST Voucher Cash Seniors’ Bonus) [Announced at Budget 2023]

In addition, the Government is giving cash payouts ranging from $600 to $900 for about 850,000 lower-income Singaporean seniors through the special GSTV – Cash (Seniors’ Bonus) component.

This payout will be made over three years, from February 2023, 2024 and 2025, benefiting about 850,000 lower-income Singaporean seniors.

GST Voucher – Cash (Seniors’ Bonus) Payout Amounts and Timeline

This bonus will be paid out over three years, with the first payout in February 2023, followed by payouts in 2024 and 2025.

AP: COL U-Save Special Payment [Announced at Budget 2023!]

As mentioned above, households will receive Additional GST Voucher — U-Save rebates as part of the AP.

These additional AP GSTV – U-Save rebates are given out on top of the regular GSTV – U-Save rebates under the Permanent GSTV scheme and will be credited with households’ regular GSTV – U-Save in the relevant months, as seen in the table below.

The first additional GSTV – U-Save rebates for 2023 will be credited in January 2023.

Notes:
(1) Households whose members own more than one property are not eligible for GSTV – U-Save
(2) Additional rebates will be credited to eligible households at the same time as their regular GSTV – U-Save in the usual four quarters (January 2023, April 2023, July 2023, and October 2023).

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Assurance Package 2023 MediSave Top-ups

That’s not all.

The Government is also giving out $450 in MediSave top-ups in February 2023, 2024, and 2025 to the young and old.

More specifically, Singaporeans aged 20 and below and 55 years and above (~2 million Singaporeans) will benefit.

Source: MOF

AP MediSave Top-ups Payout Amounts and Timeline

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AP Top-ups to Citizens’ Consultative Committee ComCare Fund & Grants to Self-Help Groups

From FY2023 to FY2026, the Government will top up $5 million to the Citizens’ Consultative Committee (CCC) ComCare Fund. If you are going through a tough time financially or know someone who is, you can approach your respective CCCs for assistance.

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