GST Voucher 2024: U-Save, S&CC rebates, cash payout, date, eligibility and more

So, you've heard about the GST Voucher, and you're thinking, "Sweet! Some extra cash could do wonders." But let's be real — most of us are clueless about how much we're getting and when the government is sliding that money into our wallets.

Eligibility? Don't even get us started. In a world where just staying alive is getting pricier, we're all wondering: How much help is the Singapore Government offering in 2024?

In October 2023, around 950,000 HDB households hit the jackpot with U-Save and S&CC rebates. Good news — from January 2024, U-Save payouts are getting a $20 boost for two years. Why? Blame it on the expected hike in carbon taxes and water prices in 2024 and 2025. That's an extra $80 per year for the next couple of years.

But wait, are you fist-pumping for joy or thinking, "Is that all?" Well, we've got your back. Below, we tackle the burning questions about the GST Voucher — the what, why, and how much.

What is the GST Voucher scheme?

The permanent GST Voucher scheme was introduced in Budget 2012 as a way to help lower-income Singaporeans ease the pain of — you guessed it! — the GST hike and the rising cost of living.

Now, where it gets confusing is what the components are. There are four parts:

1. GST Voucher — Cash (cash voucher)
2. GST Voucher — U-Save (utilities rebates, given 4X a year in Jan, April, July and Oct)
3. GST Voucher — MediSave (MediSave top-up in Aug)
4. GST Voucher — S&CC (service & conservancy charges rebates, paid in Jan, April, July and Oct)

But also, in 2024, there will be additional free money on top of the usual GST Voucher packages. These comprise:

1. GST Voucher — U-Save Special Payment (additional $20 utilities rebates per quarter from January 2024 to December 2025)
2. GST Voucher – one-off 0.5 months of S&CC rebate (in January 2024)

So let’s summarise all the GST Voucher freebies for 2024, in chronological order:

There are different eligibility requirements, payout amounts and payout dates for each one. Details are in the following sections.

Who is eligible for GST Voucher in2024?

There are five main criteria to meet before you are eligible for GST Voucher – cash in 2024.

1. You are a Singapore Citizen, residing in Singapore
2. You are aged 21 years old and above in 2024
3. You earned $34,000 or less in 2022 (for Year of Assessment 2023)
4. Your home (as indicated on your NRIC) as at Dec 31, 2023 must not exceed $21,000 in Annual Value
5. You must not own more than one property

If you already applied and want to check whether payment has been made to your account, you can log in to the Govt Payout website (SingPass needed) to check.

Never received a previous GST Voucher payout before?  You will need to sign up at the website first. You have until April 30, 2024 to sign up. 

If you need a visual aid of how to do this, you know you can trust MoneyTok to deliver. Here is a visual explainer for you.

What is the Annual Value of my property?

According to IRAS, the Annual Value of a property is the estimated gross annual rent if it were to be rented out, excluding furniture, furnishings and maintenance fees.

For example, if you’re staying in a five-room HDB flat, and your neighbour who also owns a five-room HDB flat is renting out their flat for $1,500 a month, then your property’s Annual Value is around $1,500 x 12 = $18,000.

Unfortunately, simply knocking on your neighbours’ doors does not tell you the actual Annual Value of your home, because it’s calculated by IRAS.

But there’s a quick and easy way to check the Annual Value of your property. Log in to IRAS MyTax Portal and go to “View Property Portfolio” and you can see the current AV of your property.

If you need to check the Annual Value of someone else’s property, you can also do so via the IRAS website’s Check Annual Value of Property. There’s a $2.50 fee per search.

When is the GST Voucher 2024 payout date? 

The cash component of the GST Vouchers was given out in August 2023 for those who signed up last year by July 10, 2023. If you haven’t done so yet, you’ll get your payout by the end of the following month when you do bother to sign up.

Annual Value	PayNow (NRIC)	Bank account	GovCash
GST Voucher – Cash (From Aug 2023)	From 1 Aug 2023	From 11 Aug 2023	From 21 Aug 2023

To get your GST Voucher — cash payouts ASAP, make sure that you have set up your PayNow and linked it to yourNRIC. Check with your bank if you have linked up your NRIC to your preferred bank account.

Otherwise, your GST Voucher — cash payments might be delayed.

If you don't have PayNow (or haven't linked it to your NRIC) you will receive a direct bank credit to your DBS/POSB, OCBC or UOB bank account.

In place of cheques, the government has introduced the new GovCash service. Wait, what's that?

Basically, it allows you to withdraw your payments in cash from 500 OCBC ATMs across Singapore even if you don't have an OCBC account. You can easily do so with the help of digital ambassadors at the bank branches. Alternatively, you can also choose to transfer the money to a bank account of your choice using PayNow via the LifeSG app and by logging in with your Singpass.

How much will I get thisGST Voucher 2024? 

As for the amount you get, it depends on the Annual Value of your home.

Annual Value of home	Up to $13,000	$13,001 to $21,000
GST Voucher – Cash (Aug 2023)	$700	$350

Other than GST Voucher – cash, what else can I get?

Most HDB households are eligible for GST Voucher – U-Save, a quarterly subsidy for utilities bills. There is no income requirement, but you must not own more than one property. 

Elderly Singaporeans are eligible for GST Voucher – Medisave, an annual top up to their Medisave Account.

Do I qualify for GST Voucher – U-Save in 2024?

Only HDB households are eligible for the GST Voucher – U-Save.  GST Voucher – U-Save is given to three groups:

• Those who own and live in the HDB flat
• Those who own and live in the flat, and also rent out one or more of the rooms 
• Those who rent the entire HDB flat

In all cases, there must be at least one Singapore citizen owner/occupier/tenant. Also, you and any other owners or household members living with you in the same HDB flat must not own any other property.

If you qualify, you will automatically receive the U-Save rebates in your utility bills. There's no need to sign up or register.

How much U-Save rebates will I get?

The amount of U-Save rebates depends on your HDB flat size — the bigger the flat, the less you get (because you are presumably more affluent than those living in small flats).

	Regular U-Save (Apr, Jul, Oct, Jan)	AP U-Save(Apr, Jul, Oct, Jan)	2023-2024 Total U-Save Rebates
1- / 2-room	$380	$400	$780
3-room	$340	$360	$700
4-room	$300	$320	$620
5-room	$260	$280	$540
Executive / Multi-Generation	$220	$240	$460

U-Save rebates will be automatically credited to the utilities account of the HDB household every quarter. You’d have seen it reflected in your April 2023, Jul 2023 and Oct 2023 utility bills, with one more payout coming in January 2024. Both the regular U-Save and HSP U-Save rebates will be provided in the same months.

The Enhanced AP U-Save rebates will be provided from January 2024 onwards till December 2025 in the usual quarters for a total of eight quarters. Basically, they are $20 more than last year’s AP U-Save rebates. The Enhanced AP U-Save rebates are as follows:

HDB flat type	Enhanced AP U-Save (Jan, Apr, Jul, Oct)
1- / 2-room	$115
3-room	$105
4-room	$95
5-room	$85
Executive / Multi-Generation	$75

Should the U-Save rebate actually be higher than your utility bill for that month, the unused portion won't disappear — it'll simply be rolled over to the next month(s) bill. There's no expiry date for the rebates. They will only lapse if you close your utilities account.

What about GSTV S&CC rebates?

As announced at Budget 2023, the GSTV S&CC rebates will be a permanent fixture under the GST Voucher scheme. Under the S&CC rebates, eligible households will receive rebates to offset a total of between two to four months of their service and conservancy charges. The amount of rebates each household is eligible for is determined by the following:

	2023-2024 Total S&CC Rebates
1- / 2-room	4 months
3-room / 4-room	3 months
5-room	2.5 months
Executive / Multi-Generation	2 months

To check if you're eligible, simply log in with your SingPass at HDBInfoWEB.

Do I qualify for GST Voucher – Medisave in 2024?

There are four main criteria to meet before you are eligible for GST Voucher — MediSave:

1. You are a Singapore Citizen, residing in Singapore
2. You were aged 65 years old and above
3. Your home (as indicated on your NRIC) must not exceed $21,000 in Annual Value
4. You must not own more than one property

Not sure if you have received your payout? You can log in to the Gov Payouts website  to check.

If you have previously received any sort of GST Voucher or government payout, there’s no need to sign up. Your MediSave will be topped up automatically.

Otherwise, you can sign up for the GST Voucher scheme online. The sign-up process is for the Cash and MediSave components together, so no need to sign up twice. Sign-up is open until April 30, 2024.

How much do I get from the GST Voucher – Medisave payout?

You can get between $150 to $450, depending on your age and the annual value of your home.

Age in 2023	Annual Value up to $13,000	Annual Value $13,001 to $21,000
65 to 74	$250	$150
75 to 84	$350	$250
85 and above	$450	$350

This amount will be credited to your MediSave Account. You can use your MediSave for your own medical needs, or for the needs of your immediate family, regardless of their nationality.

Other than GST Voucher, what other freebies can I get?

The GST Voucher scheme is permanent. But in certain years, the government gives extra payouts. Here are the other support payouts given to Singaporeans in 2023 as part of last year’s Assurance Package and Cost of Living Package.

CDC Vouchers: In 2024, all Singaporean households can claim $500 worth of CDC vouchers to be used at participating local merchants and hawkers.

Cost-of-Living Special Payment: Eligible citizens for the 2023 COL Special Payment have received the payments in June 2023.

Assurance Package MediSave: All Singaporeans aged 20 years and below or 55 years and above will receive up to $450 in their CPF MediSave account over 2023 to 2025.

Assurance Package Seniors’ Bonus Cash: Lower-income senior Singapore citizens will receive cash payments of $600 to $900 disbursed over three years, from 2023 to 2025.

Top-ups to children’s Edusave Account/Post-Secondary Education Account: All Singaporean children aged 7-16 years old in 2023 received a one-off top up of $300 in their Edusave or PSEA account in May 2023. 

Top-ups to Child Development Account (CDA) – All Singaporean children aged up to six years old in 2023 received a one-off top-up of S$400 to their Child Development Accounts (CDAs) from mid-Sept 2023.

ALSO READ: CDC and GST vouchers (December 2023): Everything you need to know plus the amount you'll get

This article was first published in MoneySmart.