Jun 29, 2013

Singaporeans getting GST voucher rebate

Singapore is distributing a tiny part of its wealth to citizens.

Two Million Singaporeans to Receive Notification Letters on Budget 2013 Benefits in July 2013. The estimated amount is S$1.2 billion. The amount each Singaporean gets depends on a host of factors, such as age, income, type of housing, etc.
What is the GST Voucher? 
The GST Voucher is meant to help lower- and middle-income households with their expenses, in particular, what they pay in GST. The GST Voucher will be given in three components − Cash, Medisave and U-Save.
On average, the GST Voucher will help lower-income families offset about half of the GST they pay each year.
The benefits include:
i) GST Voucher (GSTV) – this comprises the GSTV – Cash, GSTV – Medisave and GSTV- U-Save;
ii) GSTV Special Payment – a one-off extra payment of GSTV;
iii) $200 top-up to the CPF Medisave Accounts of all Singaporeans aged 45 and above.
The cash given is meant to benefit individuals and households.
"In a statement, the Finance Ministry (MOF) said these benefits will provide direct assistance to Singaporeans and their households to help them cope with increases in the cost of living." Channelnewsasia
With a citizen population of about 3.5 million, the benefit per citizen is less than $350.

Macau has also been distributing its wealth to residents, through its wealth partaking schemes. Last year, each Macau resident gets more than S$1300. There is no means testing or occupational testing. The same amount is given to everyone, with a slight difference between permanent residents and non-permanent residents.

In comparison, Singapore citizens get about one quarter the cash benefits compared to Macau residents.

What do Singaporeans think?
'A netizen posted this somewhere on the net: This must be the kindest government in the world.
Check out these huge benefits. (Yahoo Finance)
GST Voucher 2013 // Check Your Eligibility! If you’re not eligible, you will get to see this: You are currently not eligible for the GST Voucher – Cash and/or Medisave in 2013.
Whole household 5 person only $100. Each person 20 dollars 
A haunting comment from the past: "Sure you can give the goodies or offsets but why break a man’s legs and then give him crutches to wobble on?" (Askmelah.com)
Does this picture summarize the GST voucher exercise?
A picture from Demon-cratic Singapore

P.S. Singapore has enough wealth to distribute $9,000 to every citizen every year.

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