GST Voucher: 730,000 less people get it?

I refer to the article “1.37 million Singaporeans to get one-off GST Voucher of up to $200 in November” (Straits Times, Nov 1).

It states that “About 1.37 million Singaporeans will get a one-off GST Voucher of up to $200 this month, the Ministry of Finance (MOF) announced on Wednesday (Nov 1).

The GST Voucher – Cash Special Payment, which was announced in Budget 2017, will help lower-income households with expenses.

Some $280 million will be disbursed by the Government for the payout.

This is on top of the regular GST Voucher given out in August, which saw those eligible receive up to $300.

Meanwhile, MOF also reminded Singaporeans eligible for the GST Voucher – Cash/Medisave and five-year Medisave top-up but have yet to sign up, to do so by Dec 31.”

Help pay GST?

I understand that the original purpose of the GST offset scheme was to help lower-income families pay for the GST when it was introduced.

For example, even a lower-income family of say two adults and two children, spending just $1,200 a month, would incur GST of $1.008 ($1,200 x 12 x 7 per cent) a year.

So, the maximum GST Voucher cash payment of $1,000 ($500 x 2 adults whose individual assessible income is less than $26,000, in this example), may only just cover the GST that they incur.

In a sense, those who spend more than $1,200 a month – may not get enough to offset their GST.

More help for lower-income in 2007?

When the GST rate was raised from 5% to 7% in July 2007, a household in the bottom 20% had to pay additional GST of $370 per year, but received an offset package of $910 per year, in addition to permanent benefits of $1,000 per year. (“Budget debate round-up speech“, Mar 2, 2011)

Less help now?

It’s GST Cash of up to a maximum of $500 per adult now.

As to the Medisave top-up for those age 58 and above , it can only be used for approved medical expenses and insurance premiums, and is thus not cash that can effectively offset GST expenditure.

So, after adjusting for inflation since 2007, are lower-income families arguably, effectively getting less now under the GST Voucher scheme, compared to the previous GST Offset Package?

2.1m dereased to 1.37m – get GST Cash voucher now?

In 2012, the media reported that 2.1 million Singaporeans would get GST vouchers (“2.1 million Singaporeans to receive GST Vouchers”, Asiaone, Jun 30, 2012).

So, why has the number getting GST Cash vouchers apparently decreased by 730,000 (2.1 million – 1.37 million) Singaporeans or 35 per cent, to 1.37 million now?

 

Leong Sze Hian

 

 

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11 Responses to “GST Voucher: 730,000 less people get it?”

  • LIONS:

    The GST Voucher – Cash Special Payment, which was announced in Budget 2017, will help lower-income households with expenses.
    Some $280 million will be disbursed by the Government for the payout.
    ============================================================================
    It states that “About 1.37 million Singaporeans will get a one-off GST Voucher of up to $200 this month, the Ministry of Finance (MOF) announced on Wednesday
    =============================================================================

    1.37 MILLION ‘SINGAPOREANS’?

    F1 SUBSIDIES OF $140 odd MILLION,distributed upon HOW MANY SINGAPOREANS per F1 EVENT?

    WHERE IS THE ‘EQUITABILITY’ N REASONABLESNESS TOWARDS SINGAPORE CITIZENS?

    WTF IS THIS PAP govt thinking?

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  • Amos exposed PAP hypocrisy:

    Mr Leong does not get it. Again. The PAP “one-offs” are really “just for show”. They are “token” so should not expect them to be significant. Secondly, PAP needs to conserve cash in the reserves so as to have a larger “war chest” for the next GE. It needs it because with LKY no longer around PAP has to buy votes “big-time” for the next GE. Moreover, the more Singaporeans are made to suffer in the run-up to the next GE the more they will appreciate PAP’s “handouts”. They will also likely “sell” their votes cheap.

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  • LIFE'S LIKE THAT LEH:

    Maybe, 730,000 Singaporeans passed away since then because of the haze – or stress.

    GD Star Rating
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  • Downstairs maid:

    Who knows anymore what goes on ‘upstairs’!.

    GD Star Rating
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  • doggie:

    it is not election year yet. election year then will give good goodies for gong gong 69.9% to continue voting them.

    GD Star Rating
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  • Dont want ?Transfer to me !:

    Don’t want is it ? Transfer to me ! I will gladly accept it. Thank you!

    Or how about donate to TR or other needies.

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  • C'est la vie:

    *****
    The 730000 are the same lot that have willed/bequeathed their GST vouchers, HDB “homes” and CPF balances to the Government !!!
    ***
    *****

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  • Poverty Line:

    1.37 million Singaporeans living below poverty line needing this $200 to make ends meet. That’s a lot of Singaporeans. There are about 3 million Singapore citizens and this is almost half of all Singaporeans.

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  • MarBowling:

    By using the Noble term of “HELPING” the 1.37 millions Singaporean, Mai Hum is actually making use of the hard earned money of taxpayers(including the 1.37 millions)to Ownself HELP Ownself. What a Noble But Sneaky Manoeuvre by MF Sneaky Mai Hum! Expect more Sneaky manoeuvre from him nearer to the next GE! HoLee shit$.

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  • Patriot of Temesak:

    Leong Kor, of the 730,000 maybe 300,000 were OnceUpon-A-Time PioneerGeneration NOW Dead leh!!!

    Soon there will be NONE left…and Replacement of Foreign supposedly Talents will increase to 40% of Total Population after the Slaughter of 500.000+ unborn through LeeGal Abortion and the generation who could NOT afford a family owing to the HighCost even when you do NOT need MUCH space to Procreate according to Bitch-in-Heat

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  • Harder Truths:

    Since when did the pappies ever give away anything for free. Everything has a price tag.

    We are gonna pay for this in some way. Bet on it.

    GD Star Rating
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