About Assurance Package
The Assurance Package (AP) will cushion the impact of the GST rate increase for all Singaporeans.
The AP comprises cash payments for all adult Singaporeans, additional cash for lower-income seniors, additional GST Voucher – U-Save, MediSave top-ups for children and seniors, and Community Development Council (CDC) Vouchers for Singaporean households. In addition, the Government will provide a top up to the Citizens’ Consultative Committee (CCC) ComCare Fund and grants to self-help groups.
At Budget 2023, the AP was enhanced to $9.6 billion, up from the $6.6 billion announced at Budget 2022. This ensures that the AP will continue to offset additional GST expenses for majority of Singaporean households for at least five years, with around ten years offset for lower-income households, even with higher inflation. The enhancements in 2023 also includes a set of one-off support measures to address immediate cost-of-living issues in 2023.
The AP is on top of the permanent GST Voucher (GSTV) scheme introduced by the Government in Budget 2012 to help lower- and middle-income Singaporean households defray their GST expenses, i.e. what they pay in GST. For more details on the GSTV scheme, please visit the GSTV website.