In total, the regular U-Save and U-Save Special Payment for this financial year will amount to $460 million in rebates, to support families with their household expenses.
About 950,000 Singaporean households living in Housing and Development Board (HDB) flats will receive GST Voucher (GSTV) U-Save rebates this month, revealed the Ministry of Finance (MOF) on Thursday (1 April).
The households will receive an additional 50% of their regular U-Save in the financial year 2021, which will be credited in April and July, said MOF.
In total, the regular U-Save and U-Save Special Payment for this financial year will amount to $460 million in rebates, to support families with their household expenses.
The ministry noted that the U-Save Special Payment “is part of the $900 million Household Support Package announced at Budget 2021, to provide additional support to families during this period of uncertainty”.
“Lower- to middle-income families will receive more support,” it said.
Typically, households living in one- and two-room HDB flats receive U-Save rebates amounting to an average of around three to four months of their utility bills.
Along with the U-Save Special Payment, such households will receive rebates equivalent to around four and a half months to six months of their utility bills this year.
Households living in three- and four-room HDB flats usually receive U-Save rebates amounting to an average of around one to two months of their utility bills. For this year, they will receive support equivalent to around one and a half months to three months of their utility bills.
The ministry noted that households “whose members own more than one property are not eligible” for the U-Save rebate.
Eligible households will get their regular GSTV – U-Save rebates over four quarters – in April, July and October this year as well as in January 2022.
“On top of the regular GSTV – U-Save, eligible households will receive their GSTV – U-Save Special Payment over two quarters in April 2021 and July 2021,” said MOF.
It explained that the regular U-Save rebates in April, July and October “include an additional $5 per quarter from January 2019 to December 2021, as announced in Budget 2018 to mitigate the introduction of carbon tax”.
From January next year, the regular U-Save rebate received by households will no longer include the additional $5.
Victor Kang, Digital Content Specialist at PropertyGuru, edited this story. To contact him about this story, email: victorkang@propertyguru.com.sg
