Singapore GST Voucher 2024 Payout Date, Eligibility, Amount and Status

The Goods and Services Tax (GST) Voucher (GSTV) program in Singapore helps lower-income households manage the impact of the GST on their daily expenses. The GST Voucher cash payouts for 2024 are disbursed between August 1st and August 21st. The exact date depends on the chosen receiving method.

Singapore GST Voucher 2024 Payout Date

The Singapore government has announced an enhanced GST Voucher (GSTV) scheme for 2024 to help lower-income Singaporeans cope with the rising cost of living. 

The GST in Singapore is set to increase from 8% to 9% in 2024, and the GSTV scheme aims to offset the impact of this increase on daily expenses. If you were previously eligible for the GST Voucher and meet the revised criteria for 2024, you will automatically receive the enhanced cash payouts in August 2024. 

However, if you are new to the scheme or your details have changed, you may need to register or update your information through the GSTV e-services portal.

Singapore GST Voucher Payment Schedule 2024

The Singapore GST Voucher program offers two main components: cash payouts and U-Save rebates. These have different payment schedules:

Cash Payout:

  • Disbursement happens annually in August.

The exact date within August depends on your chosen receiving method:

  • PayNow-NRIC linked bank account: Fastest option, credited on August 1st.
  • Bank crediting: Arrives in your bank account on August 11th. (Ensure you provided your DBS/POSB,OCBC, or UOB bank details)
  • GovCash: Deposited into your GovCash account on August 21st. (Default option if no other method is chosen)

Singapore GST Voucher 2024 Eligibility Criteria

To qualify for the 2024 GST Voucher, you’ll need to meet specific criteria set by the Singapore government:

  • You must be a Singapore Citizen or Permanent Resident (PR) residing in Singapore as of December 31st,2023.
  • You must be aged 21 years old or above in 2024.
  • Your annual income in 2022 assessed by the Inland Revenue Authority of Singapore (IRAS) for the Year of Assessment (YA) 2023 must not exceed S$34,000.
  • The Annual Value (AV) of your home, as indicated on your NRIC (National Registration Identity Card), must not exceed S$21,000.
  • You must not own more than one property.
  • If you were previously eligible for the GST Voucher in 2023 or before and continue to meet the revised criteria for 2024, you’ll automatically receive the enhanced cash payouts in August 2024.
  • If your details have changed (income, address, etc.), you might need to update your information on the GSTV e-services portal to ensure you continue receiving the vouchers.

Singapore GST Voucher 2024 Payment Amounts 

The Singapore GST Voucher program for 2024 offers enhanced cash payouts to eligible residents to help manage the rising cost of living. The amount you receive depends on your household income and CPF (Central Provident Fund) retirement savings.

Tier 1:

  • Applicable to households with combined monthly income of S$1,200 or less and CPF retirement savings of S$60,000 or less per household member aged 55 and above.
  • Maximum payout:  S$850 per year.

Tier 2:

  • Applicable to households exceeding Tier 1 criteria but with combined monthly income of S$2,000 or less and CPF retirement savings of S$115,000 or less per household member aged 55 and above.
  • Maximum payout:  S$450 per year.
  • The combined monthly income refers to your household’s total monthly income before CPF contributions.
  • The CPF retirement savings are considered for household members aged 55 and above.

Singapore GST Voucher Payment Methods

The Singapore GST Voucher program for 2024 offers two primary payment methods for the cash component:

Fastest Option: PayNow-NRIC Linked Bank Account

  • This is the fastest and most recommended method for receiving your GST Voucher cash payout.
  • Here’s how it works:
    • You need to have a bank account linked to your NRIC (National Registration Identity Card) using the PayNow function.
    • Participating banks include DBS Bank/POSB, OCBC Bank, UOB Bank, and several others. 

Bank Crediting (DBS/POSB, OCBC, UOB Accounts)

  • This option allows the cash payout to be deposited into your existing bank account, but it’s slower than PayNow-NRIC.
  • How it works:
    • You need to have previously registered your DBS/POSB, OCBC, or UOB bank account details with the government for receiving GST Vouchers.

GovCash (Default Option)

  • This is the default method for those who haven’t chosen another option.
  • It involves crediting the payout to your GovCash account, a virtual account accessible through the Singpass app.
  • If you haven’t chosen a specific method, your payout will be deposited into your GovCash account.

Singapore GST Voucher 2024 Status

There isn’t a dedicated website or app specifically for checking your 2024 GST Voucher status. However, you can singpass app to find out:

  • If you’ve previously registered for the GST Voucher program and used Singpass, you can check your status through the Singpass app:
    • Download the Singpass app on your mobile device if you haven’t already.
    • Log in using your Singpass credentials.
    • Select “View All” under “My Profile.”
    • Look for options related to “NS benefits” or “GST Voucher.”
    • This will display your payout and remaining balance for the MediSave component (if applicable).

Possible Reasons for Delay for Singapore GST Voucher Payment 2024

Here are some possible reasons for a delay in receiving your Singapore GST Voucher payment for 2024:

  • Bank Account Details: Mistakes in your registered bank account details (account number, branch code, etc.) could prevent the funds from being deposited correctly.
  • NRIC Information: Errors in your NRIC information linked to PayNow might cause issues with receiving the payout.
  • Address: An outdated address associated with your GST Voucher registration could lead to delays in receiving any notification about the disbursement.
  • Processing Delays: Occasionally, technical glitches or processing delays within the disbursement system might cause a temporary hold on your payment.
  • GovCash Issues: If you opted for GovCash and there are technical problems with the platform, it could delay access to your funds.

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