The Assurance Package 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. It aims to cushion the impact of the 2% GST rate increase and high inflation for Singaporeans.
The AP comprises cash payments for all adult Singaporeans, additional cash for lower-income seniors, rebates, 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.