Worried about having to give out ang baos to your bratty nephew and paying off your bills at the same time?
Can’t believe that the price of electricity is going to increase again?
Well, fear not because there are “a load of measures” to help Singaporeans adjust to living in Singapore.
One of which is the GST Voucher.
Eligible Singaporeans To Receive GST-Voucher-U-Save Rebate This Month
Now, before you get too happy, take note that it’s not the cash portion of the GST Voucher.
It’s the utility-save (U-Save) rebate, which, just like CPF, is a number on the paper to offset your electricity, gas and water bills.
The Magic Number
First thing first, by eligible Singaporeans, we mean those who own an HDB flat.
And the amount differs based on the type of HDB you own:
Of course, if you happen to own more than one property, you’re out.
The U-Save rebate is distributed to eligible Singaporeans every three months over the course of the year.
And this is the last rebate before Budget 2020.
Which comes at a really great time because…
Electricity Tariffs Increase For Jan-Mar 2020 Period
In case you’re unaware, SP Group announced on 30 Dec 2019 that the electricity tariffs will increase by 3.5% for the period of Jan to Mar 2020.
In numbers terms, this will bring the tariff up to 24.24 cents per kWh.
What this means is, for people staying in 4-room HDB flats, you can expect to see an average increase of S$2.76 in your electricity bills.
The reason for the increase is mainly due to higher energy cost.
Thankfully, City Gas revealed that the gas tariffs will fall by 4.2% for the same period.
Speaking of GST
You should be excited for Budget 2020, which, according to reports, will happen on 18 Feb 2020.
Why? Because that’s when they’ll reveal the enhancements to the permanent GST Voucher scheme.
That’s right, folks. Spoiler alert.
The GST Voucher scheme will highly likely be enhanced (read: more money).
But don’t be too happy yet because it’s not going to take effect immediately.
The reason for enhancing (read: increasing the amount?) the GST Voucher scheme is because sometime between 2021 to 2025, you will see Singapore’s Goods and Services Tax (GST) increase from 7% to 9%.
And so, it will likely only take effect after the increase is implemented “during the next term of the government”.
Nope, it’s not a ploy to keep people voting for them, says Finance Minister Heng Swee Keat.
So yes, there are a couple of things to look forward to, both good and bad:
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