The regular U-Save and U-Save Special Payment will amount to $460 million to provide households with support, with more help provided to lower- to middle-income families.
About 950,000 households living in Housing and Development Board (HDB) flats will get their quarterly Goods and Service Tax (GST) Voucher – U-Save rebates in October, according to the Ministry of Finance (MOF) on 1 October.
The ministry noted that these households would have also received a special payment that amounts to an additional 50% of their regular U-Save rebates this financial year, credited in April and July.
In total, $460 million in regular U-Save and U-Save Special Payment will be disbursed this year to help support families with their household expenses.
As a part of the $900 million Household Support Package unveiled at Budget 2021, the U-Save Special Payment aims to provide additional support to families during this period of uncertainty.
“Lower- to middle-income families will receive more support,” said MOF.
Households in one- and two-room HDB flats usually receive rebates that amount to an average of around three to four months of their utility bills.
Along with the U-Save Special Payment, the rebates received by these households will amount to around 4.5 to six months of their utility bills for this year.
For those living in three- and four-room HDB flats, the regular U-Save rebates amount to an average of around one to two months of their utility bills.
“This year, they will receive support equivalent to about 1.5 to three months of their utility bills,” said MOF.
It noted that households “whose members own more than one property are not eligible” for the U-Save rebate.
Those eligible will get their regular U-Save rebates over four quarters in April, July, October 2021 and January next year.
The regular U-Save rebates in April, July and October include an additional $5 per quarter starting from January 2019 to December this year, as announced in Budget 2018 to help mitigate the introduction of the carbon tax.
From January next year, the regular U-Save rebate received by households will no longer include the additional $5.
Cheryl Chiew, Digital Content Specialist at PropertyGuru, edited this story. To contact her about this story, email: firstname.lastname@example.org.