Dear readers, by now, I believe many of you must have received the notification for the 2023 CDC vouchers.
According to the CDC notification letter, the vouchers are meant to provide continuing help to Singaporeans households for daily essentials and to defray GST essentials.
So how should one make the best use of the 2023 CDC vouchers?
Well, everyone has his or her own choice in deciding how to use the CDC vouchers. But in light of the increased GST from 7% to 8% and given that one of the very aims of the CDC vouchers is to help households defray GST, in my view, I would think that the best use of the CDC vouchers is to buy non-GST products or services else using the CDC vouchers to buy GST-inclusive goods seems counter intuitive .
Also, if one spends the $300 CDC vouchers on GST-exclusive goods, the individual could buy $300 worth of products. Whereas, if the vouchers are used on goods and services with 8% GST included in the price, the individual could only procure only $277.78 worth of goods and services and hence about $23 worth of the vouchers would have been “wasted” in paying for the GST.
So, how would you make the best use of the 2023 CDC vouchers?