U-Save GST Vouchers Take the Sting Out of Monthly Expenses

Singapore provides for the well-being of its citizens. In a bid to make their life a little bit easier, the Ministry of Finance (MOF) has announced GST Vouchers Utilities-Save (U-Save) rebates for the month of October 2015. It is estimated that as many as 800,000 Singaporean families occupying HDB flats will benefit from these.

GST Vouchers U-Save

GST Vouchers, introduced in 2012, are typically distributed to the lower and middle-class families to blunt the burden of GST tax they have to pay on consumption. GST Vouchers U-Save are for taking care of the utility bills of the Singaporean families. It is a quarterly distributed rebate to reduce the sting of living expenses.

The Beneficiaries of GST Vouchers U-Save

The rebate is aimed at families occupying 1-2 room HDB flats. It is estimated that the S$65, that they will get in rebate will be sufficient to cover 3-4 months of utility bills. Those living in the 3-4 room HDB flats will get between S$55 – S$60 which is sufficient to cover utility bills of 1-2 months.

Other Schemes

Singapore government is committed to the welfare of its young. The authorities have made budgetary allocations (2015) to force improvements in the childcare sector. They have Partner Operator scheme and Anchor Operator schemes to support the individuals and the organizations working in this field. The students studying in government-funded schools will not have to pay for examination fees for 2015.

Senior’s Bonus

Singapore authorities also take care of their low-income elderly citizens. They have Senior’s Bonus scheme in place. Those above 65 years of age, living in HDB flats and with income for 2014 below S$26,001, will get S$150 – S$300, depending on the annual value of the flat. They are planning to replace Senior’s Bonus scheme with Silver Support Scheme in 2016. The new scheme is expected to distribute between S$300 – S$750 to Singapore citizens and almost S$600 to those above 65 years of age.