GSTV – Cash (Seniors' Bonus)
GSTV – Cash (Seniors’ Bonus)
Lower-income Singaporean seniors will receive additional cash payments of $600 to $900 through the GSTV – Cash (Seniors’ Bonus). The payments will be disbursed over three years, from 2023 to 2025.To receive the GSTV – Cash (Seniors' Bonus) , you must fulfil the following criteria:
i. You must be a Singapore citizen, residing in Singapore;
ii. You must be aged 55 and above;
iii. Your Income Earned must not exceed $34,000;
iv. The Annual Value of your home (as indicated on your NRIC) must not exceed $21,000; and
v. You must not own more than one property
2023 payment | Annual Value of Home as at 31 July 2022 | |
---|---|---|
Age in 2023 |
AV ≤ $13,000 | $13,000< AV ≤ $21,000 |
55 to 64 years |
$250 | $200 |
65 years and above |
$300 | $200 |
Note
1. Your Income Earned in 2021 (Assessable Income for the Year of Assessment 2022) must not exceed $34,000;
2. You must not own more than one property.
You may login to the e-services from mid-January 2023 onwards to view your eligibility for the GSTV – Cash (Seniors' Bonus).
From 2024
2024 payment | Annual Value of Home as at 31 July 2023 | |
---|---|---|
Age in 2024 |
AV ≤ $13,000 | $13,000< AV ≤ $21,000 |
55 to 64 years |
$250 | $200 |
65 years and above |
$300 | $200 |
Note
1. Your Income Earned in 2022 (Assessable Income for the Year of Assessment 2023) must not exceed $34,000;
2. You must not own more than one property.
From 2025
2025 payment | Annual Value of Home as at 31 July 2024 | |
---|---|---|
Age in 2025 |
AV ≤ $13,000 | $13,000< AV ≤ $21,000 |
55 to 64 years |
$250 | $200 |
65 years and above |
$300 | $200 |
Note
1. Your Income Earned in 2023 (Assessable Income for the Year of Assessment 2024) must not exceed $34,000;
2. You must not own more than one property.
Common terms related to the GSTV – Cash (Seniors' Bonus)'s eligibility criteria
Term(s) | Description |
---|---|
Assessable Income (AI) | Your AI includes all forms of income from trade, business,
profession or vocation, employment, as well as rental income that
is taxable. Your AI can be found on your tax bill (or Notice of Assessment) that you receive each year if you are required to pay taxes. You may visit iras.gov.sg [log in to myTax Portal using your Singpass > Notices/Letters > Individual, select Year of Assessment] to view your Notice of Assessment. |
Annual Value (AV) | The AV is the estimated gross annual rent of the property if it were to be rented out. It is used to calculate the property tax of your
home. The AV can be found on the property tax bill that the
property owner receives each year. You may visit iras.gov.sg [log in to myTax Portal using your Singpass > Notices/Letters > Property, select the property address] to check the AV of your residence. |
Singapore Citizen | Those who hold foreign citizenship will not be eligible regardless of whether they simultaneously hold Singapore citizenship. Please approach the Immigration and Checkpoints Authority (ICA) to resolve your citizenship issues. |