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To help cushion the impact of the impending Goods and Services Tax (GST) hike in 2023, about 2.9 million Singaporean adults will receive up to S$200 cash payout in December 2022.
This is part of the Assurance Package (AP) announced back in February 2022 by Deputy Prime Minister and Minister for Finance Lawrence Wong.
Earlier this month, Wong also announced that the AP will be increased by S$1.4 billion to reach around S$8 billion to help the majority of Singaporeans offset the GST expenses for at least five years, even with the current inflation situation.
The AP package includes cash payouts, Community Development Council (CDC) vouchers, additional GST Vouchers (GSTV) - U-Save, and MediSave top-ups.
This series of payouts will be given out over the next five years, starting from December 2022.
Payouts in December 2022
About 2.9 million Singaporean adults will receive up to S$200 cash payout in December 2022.
In addition, 2.5 million Singaporean adults can also expect to up to S$500 cash as part of a one-off Cost of Living (COL) special payment.
COL is part of the S$1.5 billion Support Package announced by Lawrence Wong in Oct. 2022, to provide further relief on rising cost of living.
This means eligible Singaporeans can get up to S$700 payouts in total.
Subsequent AP benefits will come in Jan. 2023 and Feb. 2023 as well, they are:
- Additional S$95 GSTV - U-Save to help offset utility bills for eligible HDB households. This is on top of the regular GSTV - U-Save under the permanent GSTV scheme of up to S$95 for eligible households.
- S$300 CDC Vouchers for every Singaporean household, which can be used at participating heartland merchants and hawkers, and supermarkets.
- S$300 cash, under the GSTV - Cash (Seniors' Bonus), for lower-income senior citizens.
- S$150 top up in their CPF MediSave account for eligible seniors aged 55 years and above, and children aged 20 years and below.
To check for your eligibility for the AP cash payouts and COL special payment in December, you can visit the official website (go.gov.sg/assurancepackage) by logging in with your Singpass.
You can also receive your payouts earlier by linking your NRIC to PayNow by Nov. 20, 2022. In doing so, you can receive cash payouts as earlier as from Dec. 5, 2022.
Here are some infographics which you can view all the information at one glance:
Top Photo via Unsplash
Photos from Ministry of Finance
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