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310322 GST Voucher 2022 Budget 2022 Household Support Package + Assurance Package Guide 2

Ultimate GST Voucher 2022 & Budget 2022 Household Support Package + Assurance Package Guide

profileMing Feng

GST Voucher 2022: “Give You Chicken Wing, Take Back The Whole Chicken.”

If you conducted a general search for Goods and Services Tax (GST) Voucher, you’d find tonnes 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 and all of the other benefits given by the Government 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

Source: Know Your Meme

TL;DR: GST Voucher 2022 & Budget 2022 Household Support Package (HSP) + Assurance Package (AP) Guide

For Budget 2022, the Ministry of Finance (MOF) announced three support schemes to help lower to middle-income Singaporean households cope with the impending GST increase in 2023 and 2024.

They are the following:

  • Enhanced Permanent GST Voucher (GSTV) Scheme
  • Household Support Package (HSP) — Transitory
  • Assurance Package (AP) — Transitory.

Here is an overview of how much Government support each scheme provides and how much you may get:

Permenant GST Voucher Scheme
GST Voucher (GSTV) ComponentHow Much Will I Get?Who Is Eligible?When Is The Payout Happening?
Enhanced GSTV – Cash$150 - $300Singaporeans Aged 21 & Above
With Annual Income (AI): <$34,000

Annual Value (AV) of Home: $13,000 - $21,000
Aug 2022
GSTV – MediSave$150 - $450Aged 65 and above

Residential address is a property that does not exceed an AV of $21,000

Do not own more than one property
2022 (T.B.C.)
GSTV - U-Save + HSP U-Save + AP U-Save$440 - $760Eligible Singaporean households with at least one Singaporean as the owner, occupier, or tenant of the HDB flat

Household members cannot own more than one property
Apr 2022, Jul 2022, Oct 2022, Jan 2023
GSTV Service & Conservancy Charge (S&CC) Rebates1.5 - 3.5 monthsSingaporean households living in HDB

Household members cannot own more than one property + rented out the whole flat
Apr 2022, Jul 2022, Oct 2022, Jan 2023
Household Support Package (HSP) Scheme
HSP ComponentHow Much Will I Get?Who Is Eligible?When Is The Payout Happening?
HSP CDA, Edusave, PSEA Account Top-ups$200Singaporean children aged 0 - 20 in 2022Sep 2022 (CDA)
May 2022 (Edusave + PSEA)
HSP Community Development Council (CDC) Vouchers$100All Singaporean households2022 (T.B.C.)
Assurance Package (AP) Scheme
AP ComponentHow Much Will I Get?Who Is Eligible?When Is The Payout Happening?
AP Cash Payouts$100 - $200 in 2022

($700 - $1,600 over 5 years)
Adult Singaporeans aged >21

Owns 0 to 1 property
Dec 2022 first payout

(2022 - 2025)
AP GST Voucher – Cash (Seniors’ Bonus)$200 - $300 in 2023

($600 - $900 over 3 years)
Elderly Singaporeans aged >552023 - 2025
AP MediSave Top-ups$150 in 2023

($450 over 3 years)
Singaporeans aged 20 years and below + 55 years and above2023 - 2025
AP CDC Vouchers$400 ($200X2)All Singaporean households2023 & 2024

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 be updating it constantly!


What Is The Enhanced Permanent GST Voucher Scheme (2022)?

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

For Budget 2022, this scheme was enhanced.

Most notably, the GSTV – Cash was improved, and the Service and Conservancy Charges (S&CC) rebate became a permanent fixture of the GSTV scheme, on top of the GSTV – Cash, MediSave, and U-Save components.

The enhanced GSTV scheme will cost the Government $1.2 billion in Financial Year (FY) 2022.

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.

GST Voucher – Cash 2022

First up, we have the GST Voucher — Cash component. As announced in Budget 2022, this component will be enhanced.

Current GST Voucher – Cash Eligibility

Currently, all Singaporeans who meet the following criteria can receive the GSTV – Cash component benefits:

  • Aged 21 years and above
  • With an annual income (AI) of not more than $28,000
  • Whose residential address is a property that does not exceed an Annual Value (AV) of $21,000
  • Those who do not own more than one property.

Enhanced GST Voucher – Cash Eligibility

But for 2022 and beyond, the AI cap will be raised from $28,000 to $34,000. This means that more Singaporeans or 1.5 million adult Singaporeans will receive the enhanced GSTV Cash for the payout in August 2022.

Here is the updated criteria for the Enhanced GSTV – Cash:

  • Aged 21 years and above
  • With an annual income (AI) of not more than $34,000
  • Whose residential address is a property that does not exceed an Annual Value (AV) of $21,000
  • Those who do not own more than one property.

Enhanced GST Voucher – Cash Amount and Timeline

Singaporeans Aged 21 & Above
With Annual Income (AI) <$34,000
Annual Value (AV) of Home
AV ≤ $13,000$13,000 < AV ≤ $21,000
Current GSTV – Cash$300$150
GSTV – Cash in 2022
(Aug 2022 Payout)
$400
(+$100)
$250
(+$100)
GSTV – Cash in 2023 onwards
$500
(+$100)
$250
Notes:
(1) Individuals who own more than one property are not eligible for GSTV – Cash
(2) For 2022 GSTV – Cash, the AI for Year of Assessment (YA) 2021 will be considered to determine an individual’s eligibility
(3) For 2023 GSTV – Cash, the AI for YA2022 will be considered

Source: MOF

As seen in the table above, the GSTV – Cash payout amount will also be increased by up to $200, in two steps:

  • (1) 2022: All GSTV-Cash recipients will receive $100 more than current rates.
  • (2) 2023: Those residing in homes with an AV of $13,000 and below will receive a further $100 enhancement to their payouts.

When Will I Get My GST Voucher — Cash?

If you want to make sure that you get your money ASAP, you’ll need to set up your PayNow and get it linked to your NRIC.

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.

Source: DBS

And if you’re living off-the-grid for whatever reason, please check your mail for a cheque which you’ll need to bank in within six months.

Or it’ll all go into your Central Provident Fund (CPF) Ordinary Account (CPF OA) instead.

GST Voucher – MediSave 2022

Next up, we have the GSTV – MediSave component, which benefits elderly Singaporeans.

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

Age of Singaporean in 2022AV of Home
AV ≤ $13,000$13,000 < AV ≤ $21,000
65 to 74$250$150
75 to 84$350$250
85 and above$450$350
Note: Individuals who own more than one property are not eligible for GSTV – MediSave.

Source: MOF

GST Voucher – U-Save 2022

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.

GST Voucher – 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 utility bill for the month, 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.

If you qualify, you’ll automatically receive the U-Save rebates in your utility bills.

GST Voucher – U-Save 2022 Amount + Additional Rebates Under Budget 2022 Household Support Package (HSP) & Assurance Package (AP)

In addition, as announced at Budget 2022, eligible Singaporean households will receive added GSTV – U-Save rebates under the $560 million Household Support Package (HSP) in April 2022, July 2022, and October 2022, and the $6.64 billion Assurance Package (AP) for GST from January 2023 until January 2026.

HDB Flat TypeApril 2022July 2022October 2022January 2023Total GSTV
U-Save for FY2022
Regular
U-Save
HSP
U-Save
Regular
U-Save
HSP
U-Save
Regular
U-Save
HSP
U-Save
Regular
U-Save
AP
U-Save
1- and 2-Room$95$95$95$95$95$95$95$95$760
3-Room$85$85$85$85$85$85$85$85$680
4-Room$75$75$75$75$75$75$75$75$600
5-Room$65$65$65$65$65$65$65$65$520
Executive / Multi-Generation$55$55$55$55$55$55$55$55$440
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 (April 2022, July 2022, October 2022, and January 2023).
(3) The AP U-Save will be provided quarterly starting from January 2023 and ending in January 2026.

GST Voucher – Service and Conservancy Charges (S&CC) Rebate 2022

As announced at 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 every year.

These households will receive between 1.5 to 3.5 months of S&CC rebates in FY2022.

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 have rented out the entire flat, are not eligible for the S&CC rebate.

GSTV S&CC Rebates Amount and Timeline

HDB Flat TypeNo. of Months of S&CC Rebate in FY2022
April 2022July 2022October 2022January 2023Total for FY2022
1- and 2-room1110.53.5
3- and 4-room10.50.50.52.5
5-room0.50.50.50.52
Executive /
Multi-Generation
0.50.50.5-1.5
Notes:
(1) Eligible households will receive their S&CC Rebate in April 2022, July 2022, October 2022, and January 2023.
(2) Households with a member owning or having any interest in a private property, or have rented out the entire flat, are not eligible for the S&CC Rebate.

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 were living in a one-room flat in Toa Payoh-Bishan and your S&CC charges are about $702 ($58.50X12) a year.

With the rebates, you would save $204.75 ($58.75X3.5) a year!


Budget 2022: Household Support Package (HSP)

In addition to the Permanent GSTV Scheme, the Government has rolled out the transitory $560 million HSP, which will help Singaporean families to cope with the rising cost of living.

The HSP will help Singaporean families to meet their daily needs through:

  • Utility rebates
  • Top-ups for children’s education
  • Vouchers for use at heartland shops.

Household Support Package (HSP): Utility Rebates

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

HDB Flat TypeApril 2022July 2022October 2022January 2023Total GSTV
U-Save for FY2022
Regular
U-Save
HSP
U-Save
Regular
U-Save
HSP
U-Save
Regular
U-Save
HSP
U-Save
Regular
U-Save
AP
U-Save
1- and 2-Room$95$95$95$95$95$95$95$95$760
3-Room$85$85$85$85$85$85$85$85$680
4-Room$75$75$75$75$75$75$75$75$600
5-Room$65$65$65$65$65$65$65$65$520
Executive / Multi-Generation$55$55$55$55$55$55$55$55$440
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 (April 2022, July 2022, October 2022, and January 2023).
(3) The AP U-Save will be provided quarterly starting from January 2023 and ending in January 2026.

Household Support Package (HSP): Top-ups to Child Development Account (CDA), Edusave Account, and Post-Secondary Education Account (PSEA)

As part of the HSP, the Government will help families with their children’s education-related expenses.

The Government will provide a $200 top-up for about 790,000 children aged 0 – 20 years old as follows:

Age in 2022Date of Birth
(Inclusive of Both Dates)
Account Receiving Top-upAmountEstimated Timeline
0 – 6Between 1 Jan 2016 & 31 Dec 2022CDA$200From Sep 2022
7 – 16Between 1 Jan 2006 & 31 Dec 2015Edusave$200May 2022
17 - 20Between 1 Jan 2002 & 31 Dec 2005PSEA$200May 2022
Notes:
(1) Each Singaporean child will receive a one-off top-up to the relevant account, depending on his/her age and/or academic level.
(2) Children born on 1 January 2016 who have started primary school in 2022 will receive the top-up in their Edusave accounts.
(3) Those who are 16 years old in 2022 and studying in Government-funded post-secondary institutions (Junior Colleges or Centralised Institute) will receive the top-up in their PSEA.
(4) Those who are between 17 and 20 years old in 2022 and studying in secondary schools will receive the top-up in their Edusave accounts.
(5) Children studying in Government-funded special education (SPED) schools will receive the top-up in their Edusave accounts, regardless of age. Other children with special needs will also receive the top-up in the relevant accounts based on age.

Source: MOF

Note that the top-up to the Edusave account is in addition to the annual Edusave contribution by the Government.

Household Support Package (HSP): $100 Community Development Council (CDC) Vouchers in 2022

The Government will partner with the Community Development Council (CDC) to give away another $100 worth of CDC vouchers to every household in Singapore in 2022.

These vouchers will help all Singaporean households cope with their daily expenses and can be used at participating heartland businesses like:

And supermarkets too.

But for now, information is still scarce. We will update this article with more details when the CDCs announce new information.

Budget 2022 Assurance Package (AP) For GST

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

That’s not all.

About two years later, at Budget 2022, the Government announced that it would supplement an additional $640 million to beef up the AP.

With the new and improved AP, most Singaporean households will receive rebates that minimally cover five years’ worth of additional GST expenses.

The number is about doubled for lower-income households as they will receive rebates that minimally cover 10 years’ worth of additional GST expenses.

Assurance Package (AP): Cash Payouts

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

For this component, all Singaporeans aged 21 years and older will be receiving cash payouts ranging from $700 to $1,600, with the amount determined by their annual income and property ownership status.

These payouts will be made over five years from 2022 to 2026, starting in December 2022 and will benefit over 2.8 million adult Singaporeans.

Assurance Package (AP): Cash Payouts Amount and Timeline

Singaporeans Aged 21 Years & Above in Reference YearPayout PeriodOwns 0 to 1 propertyOwns >1 Property
Assessable Income (AI)
AI≤$34,000$34,000<
AI
≤$100,000
AI>$100,000
2023Dec 2022$200$150$100$100
2024Dec 2023$400$250$200$200
2025Dec 2024$400$250$200$200
2026Dec 2025$400$250$100$100
2027Dec 2026$200$150$100$100
Total$1,600$1,050$700$700

Assurance Package (AP): GST Voucher – Cash (Seniors’ Bonus)

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

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

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

Property OwnershipOwns 0-1 property
Assessable Income (AI)AI≤$34,000
Annual Value (AV) of homeAV≤$13,000$13,000<
AV
≤$21,000
Age of Singaporean in Payout Year55 to 64 years65 years and above55 to 64 years65 years and above
2023$250$300$200
2024$250$300$200
2025$250$300$200
Total$750$900$600
Note: Individuals who own more than one property are not eligible for GSTV – Cash (Seniors’ Bonus).

Budget 2022 Assurance Package (AP): Utility Rebates

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

HDB Flat TypeApril 2022July 2022October 2022January 2023Total GSTV
U-Save for FY2022
Regular
U-Save
HSP
U-Save
Regular
U-Save
HSP
U-Save
Regular
U-Save
HSP
U-Save
Regular
U-Save
AP
U-Save
1- and 2-Room$95$95$95$95$95$95$95$95$760
3-Room$85$85$85$85$85$85$85$85$680
4-Room$75$75$75$75$75$75$75$75$600
5-Room$65$65$65$65$65$65$65$65$520
Executive / Multi-Generation$55$55$55$55$55$55$55$55$440
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 (April 2022, July 2022, October 2022, and January 2023).
(3) The AP U-Save will be provided quarterly starting from January 2023 and ending in January 2026.

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 together with households’ regular GSTV – U-Save in the relevant months, as seen with the table below.

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

HDB Flat Type1- & 2-room3-room4-room5-roomExecutive/ Multi-Generation
2023$95$85$75$65$55
2024$190$170$150$130$110
2025$190$170$150$130$110
2026$95$85$75$65$55
Total$570$510$450$390$330
For reference: Regular GSTV –
U-Save per year
$380$340$300$260$220
Notes:
(1) Households whose members own more than one property are not eligible for GSTV – U-Save.
(2) Eligible households will receive their regular GSTV – U-Save over four quarters in April, July, October, and January.

Assurance Package (AP): MediSave Top-ups

That’s not all.

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

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

MediSave Top-ups Payout Amounts and Timeline

Age of Singaporean in Payout Year20 years and below55 years and above
2023$150
2024$150
2025$150
Total$450

Community Development Council (CDC) Vouchers Scheme

Last but not least, the Government will partner with the CDCs to distribute an additional $400 worth of CDCs vouchers to all Singaporean households. These CDC vouchers are given out in addition to the $100 worth of CDC vouchers under the HSP.

The AP CDC vouchers will be given out in 2023 and 2024, with each tranche worth $200 (i.e. $400 in total)

These vouchers will help all Singaporean households cope with their daily expenses and be used at participating heartland businesses and even supermarkets.

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

One more thing.

Over five years, 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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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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