December 30, 2023, 12:10 PM
Around 950,000 Singaporean households living in HDB flats will receive rebates in January 2024 to help defray goods and services tax (GST) and provide cost-of-living support for lower- to middle-income households.
More rebates to come
The U-Save and Service and Conservancy Charges (S&CC) rebates that will be given out in January 2024 will be the fourth and final quarterly disbursement for the 2023 financial year.
These rebates are part of the permanent GST Voucher (GSTV) scheme and the Assurance Package, the rebates are disbursed in April, July, October, and January each year, said the Ministry of Finance (MOF) in a press release.
In the 2023 financial year, eligible households will receive double their regular U-Save rebates.
An additional S$20 will be given out in January 2024 to cushion the impact of the increases in carbon tax and water price.
This additional S$20 per quarter of U-Save will be provided every quarter from January 2024 to December 2025.
Amounting to S$160 over two years, this was announced by the Deputy Prime Minister and Minister for Finance Lawrence Wong on Sep. 28, 2023 as part of a S$1.1 billion support package for cost-of living relief.
On Jan. 1, 2024, Singapore's GST will increase from eight to nine per cent.
MOF said the U-Save provided in FY2023 amounts to about eight to 10 months of utility bills for households living in 1- and 2-room HDB flats on average.
For households living in 3- and 4-room HDB flats, it is about four to six months of utility bills.
Eligible households will also receive an additional one-off 0.5 month of S&CC rebate in January 2024 that is part of the cost-of-living support package.
Here are the rebates households will receive:
Image via MOF.
Image via MOF.
Eligible households do not need to take any action to benefit from the schemes, as the rebates will be credited automatically.
The U-Save rebates will be credited directly into households’ utilities accounts with SP Services, while the S&CC rebates will be credited directly by their respective town councils.
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