First GST Credits Payout On Mar 1...

more money to spend...
or probably save up for rainy days...

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From Asiaone:

Singaporeans will receive double the amount of GST credits and bonuses this year.

In order to help households cope with their needs in the downturn, the Singapore government announced in the recent Budget that Singaporeans will receive double the amount of GST credits and bonuses for senior citizens, which will be paid out on March 1 this year.

Singaporeans who have signed up for their GST Credits in previous years will automatically receive theirs for 2009.

From Feb 13, a letter from the CPF Board will be sent to all who are eligible for the Credits, informing them of the total amount they will receive this year.

For those who have signed up for their GST Credits in 2007 or 2008, they are not required to sign up again to receive their 2009 payouts and will automatically receive the following:
- First payout of GST Credits and Senior Citizens' Bonus: 1 Mar 2009.
- Second payout of GST Credits and Senior Citizens' Bonus: 1 July 2009.

Those who did not sign up for their GST Credits in previous years or who only qualify for it recently, can sign up for the payouts from Feb 15 onwards at the GST offset website (www.gstoffset.gov.sg) or via hardcopy forms which are available at all Community Centres, Community Development Council offices and CPF Service Centres.

Payments will be made on the dates above for those who sign up before Feb 20. Otherwise, GST Credits can still be received as long as the deadline is not exceeded - the last day to sign up for GST Credits is Dec 31.

Singaporeans who wish to donate their payments can do so at the website from Feb 15.

The additional GST Credits and bonus will cost the government $580 million, which is on top of the amount which will be paid out again in July this year.

On top of the additional GST Credits and Senior Citizens' Bonus, eligible Singaporean households will also receive other benefits this year, including U-Save, Service & Conservancy Charges (S&CC) and rental rebates, property tax and personal income tax rebates, Workfare Income Supplement (WIS), including the WIS Special Payment, and top-ups to Post Secondary Education Accounts (PSEA).

For more information regarding the GST payouts, visit www.gstoffset.gov.sg or www.mof.gov.sg or call 1800-2222-888.