Goods and Services Tax Voucher Fund (Amendment No. 2) Regulations 2024

No. S 1058

Goods and Services Tax Voucher Fund Act 2012

Goods and Services Tax Voucher Fund
(Amendment No. 2) Regulations 2024

In exercise of the powers conferred by section 19 of the Goods and Services Tax Voucher Fund Act 2012, the Minister for Finance makes the following Regulations:

Citation and commencement

1. These Regulations are the Goods and Services Tax Voucher Fund (Amendment No. 2) Regulations 2024 and come into operation on 1 January 2025.

Amendment of regulation 5

2. In the Goods and Services Tax Voucher Fund Regulations 2014 (G.N. No. S 5/2014) (called in these Regulations the principal Regulations), in regulation 5(1), replace sub‑paragraph (d) with —

“(d)	for the relevant year 2025 or later — on 31 December in the year immediately preceding the relevant year, the individual’s residence is a property with an annual value not exceeding $31,000;”.

Replacement of regulation 6

3. In the principal Regulations, replace regulation 6 with —

“Amount of cash grant under GSTV — Cash

6. The amount of cash grant under the GSTV — Cash that may be disbursed to an individual who meets or is deemed to meet the eligibility criteria in regulation 5 is —

(a)	for the relevant year 2022 or 2023 — as specified in Part I of the Schedule as in force immediately before 1 January 2024;
(b)	for the relevant year 2024 — as specified in Part I of the Schedule as in force immediately before 1 January 2025; and
(c)	for the relevant year 2025 or later — as specified in Part I of the Schedule.”.

Amendment of regulation 9

4. In the principal Regulations, in regulation 9(1), replace sub‑paragraph (d) with —

“(d)	for the relevant year 2025 or later — on 31 December in the year immediately preceding the relevant year, the individual’s residence is a property with an annual value not exceeding $31,000;”.

Amendment of regulation 13

5. In the principal Regulations, in regulation 13(2) —

(a)

in sub‑paragraph (a), replace “during the specified month” with “during the month immediately preceding the specified month”; and

(b)

replace sub‑paragraph (b) with —

“(b)

in any other case, an HDB flat where, during the month immediately preceding the specified month —

(i)	the owner is the occupant; and
(ii)	the remaining occupants satisfy the conditions in paragraph (4).”.

Amendment of regulation 21

6. In the principal Regulations, in regulation 21(1), replace sub‑paragraph (da) with —

“(da)	for a cash grant in 2024, on 31 July 2023, the individual’s residence is a property with an annual value not exceeding $25,000;
(db)	for a cash grant in 2025, on 31 July 2024, the individual’s residence is a property with an annual value not exceeding $31,000;”.

Replacement of regulation 22

7. In the principal Regulations, replace regulation 22 with —

“Amount of cash grant under Assurance Package — Seniors’ Bonus

22. The amount of cash grant under the Assurance Package — Seniors’ Bonus that may be disbursed to an individual who meets or is deemed to meet the eligibility criteria in regulation 21 is —

(a)	for the relevant year 2023 — as specified in Part V of the Schedule as in force immediately before 1 January 2024;
(b)	for the relevant year 2024 — as specified in Part V of the Schedule as in force immediately before 1 January 2025; and
(c)	for the relevant year 2025 — as specified in Part V of the Schedule.”.

Amendment of Schedule

8. In the principal Regulations, in the Schedule —

(a)

replace Part I with —

“Part I

Regulation 6

AMOUNT OF CASH GRANT UNDER GSTV — CASH
FOR RELEVANT YEAR 2025 OR LATER

Annual value of property, as at 31 December
in the year immediately preceding the relevant year

Less than or
equal to $21,000

More than $21,000 but
less than or equal to $31,000

$850

$450

”;

(b)

in Part II, in the Part heading, after “UNDER GSTV — MEDISAVE”, insert “FOR RELEVANT YEAR 2025 OR LATER”;

(c)

in Part II, in the column heading of the 3rd column, replace “$25,000” with “$31,000”;

(d)

in Part V, in the Part heading, after “ASSURANCE PACKAGE — SENIORS’ BONUS”, insert “FOR RELEVANT YEAR 2025”; and

(e)

in Part V, in the column heading of the 3rd column, replace “$25,000” with “$31,000”.

[G.N. Nos. S 236/2014; S 191/2015; S 127/2017; S 128/2017; S 567/2022; S 616/2023; S 868/2023; S 294/2024]

Made on 30 December 2024.

LAI CHUNG HAN

Permanent Secretary (Development),
Ministry of Finance,
Singapore.

[AG/LEGIS/SL/117C/2020/2]

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