- The Goods and Services Tax Voucher (GSTV) Scheme in Singapore provides financial support to lower
- and middle-income households.
- The scheme is enhanced for 2024-2025, offering cash payouts and MediSave top-ups. **Eligibility Criteria:**
- Minimum age of 21 or above retirement age.
- Annual income must not exceed $34,000 (for YA 2023).
- Annual Value (AV) of home must not exceed $21,000.
- Must be a Singapore citizen or permanent resident for at least three years.
- Must reside in a qualifying property.**Payout Amounts:**1. **Cash Payouts:**
- Higher Cash Payout: $850 for income ≤ $34,000 and AV ≤ $21,000.
- Lower Cash Payout: $450 for income ≤ $34,000 and AV $21,001–$25,000.2. **MediSave Top-Up:**
- Seniors aged 65 and above will receive a top-up amount for healthcare needs.**Key Highlights:**
- Enhanced payouts aim to address rising living costs and GST increases.
- Cash payouts are higher compared to previous years.**Payment Dates:**
- PayNow (linked to NRIC): August 1, 2024.
- Bank Transfer: August 11, 2024.**Registration Process:**
- Register online, update bank and property details, and file income tax.**Checking Status:**
- Use Singpass to check GST Voucher status.**Benefits:**
- Financial assistance for daily living expenses and healthcare support for seniors.**Tips to Avoid Issues:**
- Ensure accurate information, avoid scams, and file income tax on time.**FAQs:**
- Eligibility, payout distribution, registration deadlines, and steps if payouts are not received.
Source: tsrtcparcel.in
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
