In April, about 950,000 Housing Board flat residents will get their regular Value-added Tax (GST) Coupon U-Save refunds, the first payment of the financial year. The total refunds received through electricity rebates singapore by each qualifying home in FY2022 vary between $440 to $760, based on the HDB unit type. They will be distributed in four instalments, beginning in April, July, and October of this year, and ending in January 2023. The payments are intended to help Singaporeans with lower and middle-incomes cover their GST and electricity expenditures.
Since 2012, the government has distributed GST Vouchers in three forms: cash, MediSave, and U-Save for utilities. From FY2022, the plan will include reimbursement for service and conservation costs (S&CC). This fiscal year, homeowners will get twice the U-Save benefits, which take the form of utility bill refunds. The rebate equates to around eight to ten months of utility expenses for those living in one- and two-bedroom apartments. According to MOF, the reimbursement amounts to 6 months of utility expenses for people who live in three- or four-room flats.
The $720 million reimbursements were announced in February as part of the improved permanent GST Voucher system and the Family Support Package in Budget 2022. It was also revealed that GST will indeed be hiked by one percentage point every year for the following two years, from 7% to 9%. In April, households with one or two rooms will get two U-Save instalments of $95 each, while households with three rooms will to enough payments of $85. Folks residing in four-room apartments will receive $75 on each payment, while those living in five-room flats would receive $65. Executive and multi-generational apartments will get two $55 payments.