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Growth Dividends
 

Overview

All adult Singaporeans aged 21 and above will receive Growth Dividends as part of the Government’s move to share the nation’s surpluses with Singaporeans. Lower- and middle- income groups will receive more. Older Singaporeans will receive additional Growth Dividends. NSmen, ex–NSmen and NSFs (including those below the age of 21) will also receive an additional $100 of Growth Dividends to recognise their contributions to national security.

Singaporeans who have signed up for their GST Credits in 2007 will automatically qualify for the Growth Dividends. They need not sign up again to receive the Growth Dividends. Singaporeans who have yet to sign up for their GST Credits will have to do so in 2008 to receive their Growth Dividends.

Growth Dividends will benefit about 2.4 million Singaporeans and cost the Government $865 million.

Who can get the Growth Dividends?

To receive the Growth Dividends, you must:

  • Be a living Singapore citizen; and
  • Be aged 21 or above in 2008; and
  • Have signed up to receive your GST Credits.*
*If you have signed up for your GST Credits in 2007, you do not need to sign up again in 2008. You will automatically get your Growth Dividends if you are eligible.

How much Growth Dividends can I get?

The amount of Growth Dividends that you can receive depends on the following:

  • The Annual Value of your home in 2007 as assessed by IRAS (based on your NRIC address as of 31 December 2007); and
  • Your Assessable Income for the Year of Assessment 2007 (i.e. income earned in calendar year 2006 as assessed by IRAS); and
  • Your age as of 31 December 2008; and
  • Your NS status in 2008.

Structure of Growth Dividends

Structure of Growth Dividends
AV criteria for GD are based on the 2007 AVs.

How and when can I get my Growth Dividends?

You will receive a letter from CPF Board in mid April 2008 to inform you of the amount of Growth Dividends and 2008 GST Credits you can receive. 

If you have already signed up for your GST Credits in 2007, you will automatically receive your Growth Dividends through the same mode as your GST Credits (i.e. bank account / cheque) in two installments, the first on 30 April 2008, and the second on 1 October 2008. 

If you have not signed up for your GST Credits, you must do so to receive both your 2008 GST Credits and Growth Dividends. You can sign up online (www.gstoffset.gov.sg) or by hardcopy forms available at CPFB Service Centres, Community Centres/Clubs and Community Development Councils. To receive the first installment of Growth Dividends by 30 April 2008, you must do so online (www.gstoffset.gov.sg) by 23 April 2008. If you sign up by 25 June 2008, you will receive your first installment of Growth Dividends on 1 July 2008. For sign-ups after 25 June 2008, you will receive your Growth Dividends after 1 July 2008, between 4 to 15 working days after the sign-up.

Sign-up Mode For sign-ups after the 25 June 2008 deadline, I will receive my Growth Dividends after 1 July 2008, within:
Online www.gstoffset.gov.sg 4 working days
(for crediting to bank account)

15 working days
(for the cheque to be mailed)
Hard copy forms 10 working days
(for crediting to bank account)

15 working days
(for the cheque to be mailed)

The final deadline to sign up to receive your Growth Dividends and your 2008 GST Credits is 31 December 2008.

Can I donate my Growth Dividends to a charity?

You can donate your Growth Dividends to a charity of your choice.

If you have signed up for your GST Credits in 2007 and wish to donate your Growth Dividends and 2008 GST Credits, you may do so from 15 April to 23 April 2008 at www.gstoffset.gov.sg. If you miss the 23 April 2008 deadline, you can still donate the second installment of your Growth Dividends and 2008 GST Credits via the website.

Those who have not signed up for their GST Credits can donate their Growth Dividends and 2008 GST Credits when they sign up for their 2008 GST Credits.

To find out more about the Growth Dividends, please click here.

Who can I contact for further information?

For further queries on the Growth Dividends, you can call CPF Board at 1800-2222-888 or email growthdividends@cpf.gov.sg

 
   
     
 
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