from The Government will provide 90% risk-share for loans initiated from 8 April 2020, to 31 March 2021 under the programme. Household members refer to individuals living at the same residence (as reflected on their NRICs), and who are related by blood, marriage or legal adoption (e.g. Employers who benefit from additional wage credit arising from the Budget 2020 enhancements will receive a separate supplementary payout in the second half of 2020. Letters will be sent to all qualifying employers to inform them of the R&R done in the basis period for YA2021) in one year. In addition, adult Singaporean parents with at least one Singaporean child aged 20 years and below in 2020, will each receive an additional $300 in cash. To receive your payout earlier on 18 June 2020, we strongly encourage you to register your NRIC with PayNow. Find out more about the additional GST – Voucher U-Save here. Growing Our Economy, Creating Opportunities For Our People, C. Caring For Singaporeans, Building An Inclusive Home, D. Sustaining Singaporeâs Success For Our Future Generations, E. Partnering Singaporeans To Build Singapore Together, Supplementary Budget Debate Round-Up Speech, Ministerial Statement â Oct 2020 Debate Round-Up Speech, Ministerial Statement â Oct 2020 Videos, Singaporeans who received WIS payment for WY2019. $100). All other sectors. JSS will support the following groups of employers: The table below shows a worked example of how the JSS payout is computed for an employer with three local employees earning different wages. Stallholders of Hawker Centres and Markets. WSG will enhance support under the Adapt and Grow initiative for more directly impacted sectors, such as hotel, retail, food services, tourism, and air transport. Date of payout: All Singaporeans Eligible citizens will be notified in August 2020 of the eligible amount they receive via letter or SMS (if they signed up for SingPass notifications). Eligible households will receive their regular GSTV – U-Save over four quarters in April 2020, July 2020, October 2020 and January 2021. This comes shortly after the âcircuit breakerâ measures, which were announced on 3 April 2020, basically putting Singapore on a âsoftâ lockdown. 3 rd Payout. Good news. MPA will provide an additional 35% 1 April 2020; 50% rebate on rental paid for airlines’ lounges and offices within Changi Airport terminal buildings between 1 April 2020 and 31 October 2020 (both dates inclusive). The WSP will provide additional support for low-wage workers aged 35 and above in 2019[1]. – 75% of Nov 2019 wages)A2 this time of economic uncertainty. – 75% of Nov 2019 wages)A2 Budget 2020: $5 billion fund for Singapore to combat rising sea levels. As part of the Unity and Resilience Budgets, the Care and Support Package will provide more assurance and support to Singaporeans who may be concerned about coping with their household expenses during this period of extraordinary economic uncertainty. For those who are interested in cash payouts, theyâll receive them as early as next week (14 Apr 2020). You can do so via your bank’s mobile banking application or Internet banking platform by 11 June 2020. There are three levels of co-funding for employers in The maximum loan quantum will also be increased to $5 million, with the interest rate capped at 5% p.a. A. Budget 2021: COVID-19 Resilience Package Budget 2021: Building a sustainable Singapore Making progress in our vaccination programme What you should know about the COVID-19 vaccine Beware of scam sites offering COVID-19 vaccination Moving into Phase 3 of Re-Opening on 28 Dec 2020 Securing Singapore's access to COVID-19 vaccines Experts Explain: COVID-19 and safe management ⦠Singaporeans aged 50 and above in 2020 will each receive an additional $100 cash, which replaces the earlier announced PAssion Card top-up, in view of the COVID-19 situation and the need for safe distancing during this period. + 25% of Jul 2020 wages. Wage support for shareholder-directors will only apply to companies registered on or before 20 April 2020, and only for the wages of shareholder-directors with Assessable Income of $100,000 or less for Year of Assessment 2019. Sectors more directly affected by the COVID-19 outbreak will receive The Singapore Budget 2020 Payout was delivered by Heng Swee Keat. All eligible HDB households will receive double their regular GST Voucher (GSTV) – U-Save in Financial Year (FY) 2020 (April 2020 to March 2021) through a one-off GSTV – U-Save Special Payment. E-mail: myTax Mail, A. Employers will receive payouts automatically in the month of March after the qualifying year (Y+1), for qualifying wage increases given to their employees in the qualifying year (Y). A portion of the insurance premium paid by SMEs to insurers is supported by And I donât want it to be in my CPF or Edusave or whatever fund. + 75% of Jul 2020 wages, + (75% of May 2020 wages Eligible households will receive their S&CC Rebate over four quarters in April 2020, July 2020, October 2020 and January 2021. âUnless thereâs free money, of course. Households whose members own more than one property are not eligible for GSTV – U-Save. They will receive a one-off cash payout of $100, $200 or $300 in 2020, depending on their income in 2019 and home ownership. The Apr 2020 and May 2020 payouts will provide support in advance for Apr 2020 and May 2020 wages respectively. Budget 2020: All vehicles to run on cleaner energy by 2040. *Singaporeans who qualify for WY2019 WIS after July 2020 but before 31 March 2021 will receive the WSP in the month that they become eligible for WY2019 WIS. ^Singaporeans who qualify for WY2020 WIS after October 2020 but before 31 December 2021 will receive the WSP in the month that they become eligible for WY2020 WIS. Eligible households with five or more members will receive an additional GSTV – U-Save rebate in FY2020, and will thus receive a total of 2.5 times their regular GSTV – U-Save in FY2020 (see Table 2). 12-month waiver of the planned 1% annual increase in LPA Charges scheduled to take effect from 1 April 2020. All airlines that had operated scheduled passenger flights between mainland China and Singapore before the COVID-19 outbreak will receive landing credits. Budget 2020: Eligible Singaporeans to Receive $300 or $600 Cash Payments From June 18. Total There will also be an additional payout in May to provide cashflow support for firms during the ‘circuit breaker’ period. The PIT payments deferred from May, June, and July 2020 will instead be collected in August, September, and October 2020 respectively.). See Table 2 below for the WSP payment dates. + 25% of Jun 2020 wages The Wage Credit Scheme (WCS) will be enhanced in Budget 2020. Table 1: GST Voucher (GSTV) â Cash and Cash Special Payment Singapore Citizens aged 21 and above in 2021, with Assessable Income for Year of Assessment 2020 up to $28,000 Annual Value of Home as at 31 December 2020 April 2020. programmes4 will be extended from the current three months to a maximum of six months: In addition, WSG will introduce the following new programmes to support redeployment: The enhanced support will be time-limited. Feb 18, 2020, 4:17 pm SGT. These tax treatments will be enhanced under the corporate tax system for one year. by Anees Sadique. Please contact your respective landlord agencies. Jul 2020. Companies paying their CIT by GIRO can automatically enjoy an additional two months of interest-free instalments, when they file their Estimated Chargeable Income (ECI) within three months from their Financial Year End. The assistance will be provided for a 6-month period. + 75% of Nov 2019 wages A summary of the changes to WCS is in Table 2 below. Households with a member owning or having any interest in a private property, or have rented out the entire flat, are not eligible for the S&CC Rebate. To view the Care and Support – Cash amount that you will be receiving, check payment details, or provide your bank account details, you may visit https://go.gov.sg/ecsc2020. Each payout will be $3,000. Government. The EFS-TL, which is available to enterprises across all industries, will be enhanced for one year (from 1 April 2020 till 31 March 2021) to further help enterprises with their trade financing needs. SINGAPORE - To help households cope with the impact of the coronavirus pandemic, all Singaporeans aged 21 and above will now receive a one-off payout of ⦠Purpose built Meetings, Incentives, Conferences, and Exhibition venue operators, Licensed food shops and food stalls (including hawker stalls), Increases in gross monthly wage of at least $50 given to Singaporean employees in the qualifying year, up to a gross monthly wage level of, In addition, increases in gross monthly wage of at least $50 given in 2017, 2018 and 2019 up to a gross monthly wage level of. The new eligible recipients will receive the full one-off WSP of $3,000 from October 2020 onwards. Those that operate scheduled passenger flights between mainland China and Singapore during up to 31 July will receive 100% Landing Charge Rebates for these flights. These advances will be calculated based on Oct 2019 and Nov 2019 wages respectively. Click here to find out more P&M acquired in the basis period for YA2021) over two years; and. Individuals who are unable to work and have little family support. The countryâs Finance Minister, at 3 pm on February 18th. The subsequent JSS payouts in Jul 2020 and Oct 2020 will be adjusted to account for these advances. + 50% of Jul 2020 wages, + (75% of May 2020 wages The Enterprise Financing Scheme – Trade Loan (EFS-TL), supports Singapore-based enterprises’ trade financing needs, which include the financing of short-term import, export and guarantee needs. receive an additional $100 in cash. MPA will grant passenger terminal operators 100% waiver of their public licence fees for one year. C) Premises of the following that are used or intended to be used for Meetings, Incentive Travel, Conventions and Exhibitions (MICE): E) Premises that are used or intended to be used as: The above rates in (A) – (E) do not apply to Marina Bay Sands and Resorts World Sentosa. Interested enterprises can apply directly to the Participating Financial Institutions. The Government will increase support for the LIS insurance premium from 50% to 80% for one year, (from 1 April 2020 to 31 March 2021), to help SMEs across all industries manage their trade financing costs. Growing Our Economy, Creating Opportunities For Our People, C. Caring For Singaporeans, Building An Inclusive Home, D. Sustaining Singaporeâs Success For Our Future Generations, E. Partnering Singaporeans To Build Singapore Together, Supplementary Budget Debate Round-Up Speech, Ministerial Statement â Oct 2020 Debate Round-Up Speech, Ministerial Statement â Oct 2020 Videos, Self-Employed Person Income Relief Scheme. The following tenants will qualify for rental waivers: For more information and enquiries on specific schemes, please find contact details below. Service and Conservancy Charges (S&CC) Rebate â (MOF) The S&CC rebate directly offsets S&CC payments by households. In addition, wage support for the months of April and May 2020 will be topped up to 75% for all sectors to support firms during the ‘circuit breaker’ period. You can find out more here. Additional Payout. Computation of Payout In addition, adult Singaporean parents with at least one Singaporean child aged 20 years and below in 2020, will each receive an additional $300 in cash. This is done in order to provide cashflow support for firms during the ‘circuit breaker’ period. Find out more about the Care and Support – Cash here. The package will provide immediate relief to affected companies during the COVID-19 outbreak period. The following assistance will be provided to them: Further support will also be provided to defray airlines’ other operating costs: Freighter airlines and cargo agents impacted by the disruption in supply chains will receive the following assistance: Ground handling agents and retail/F&B tenants at the airport are also affected by the decline in traffic. 14, 2020. 6 months ago. + (75% of Apr 2020 wages + (75% of Apr 2020 wages Property tax rebate as announced at the FY 2020 Budget, Enhanced property tax rebate as announced at the FY 2020 Supplementary Budget, A) Hotel room or function room of a hotel registered under the Hotels Act, B) Serviced apartment or serviced apartment function room. The Government announced on 26 May 2020 as part of the Fortitude Budget, a Government cash grant to qualifying property owners that help support rental relief for Small and Medium Enterprises (SMEs) and specified Non-Profit Organisations (NPOs) tenant-occupiers of prescribed properties. The WSP will be given to eligible Singaporeans in the same way they receive their WIS payments – direct crediting into their bank account, or cheque sent to their NRIC address. The TBLP will be expanded to all sectors from 1 The Land Transport Authority will extend a tax rebate to offset some of the special tax and road tax payable for each idle taxi. The remaining Care and Support â Cash of $600 and $300 for lower- and middle-income Singaporeans will be paid from 18 June 2020. Those who own more than one property will receive $300, regardless of their income. This is the existing process. This will allow Singaporeans to return to Singapore and for the transportation of goods to keep Citizens may check their eligibility details and update their payment instruction at ⦠The Enterprise Financing Scheme – SME Working Capital Loan (EFS-WCL), which is available to SMEs across all industries, will be enhanced from March 2020 to 31 March 2021 to help SMEs with their working capital needs. ⢠Additional help for Families with young children additional support. Find out more about the Workfare Special Payment here. From 4 June 2020, citizens can view the amount that they will be receiving at https://go.gov.sg/csp2020. The Government will provide a grant of $20 million over FY2020 and FY2021 to Self-Help Groups (SHGs), and a grant of $75 million to Community Development Councils (CDCs) in FY2020. Table 1: Care and Support – Cash, PAssion Card Top-up and Solidarity Payment, Assessable Income (AI) for Year of Assessment (YA) 2019, More than $100,000 or owns more than one property. All adult Singaporeans will benefit, with more help given to the less well-off. Parents with one or more Singaporean children aged 20 and younger in 2020 will each also get an extra $100 in cash. Wages derived based on CPF contributions made by: Oct-Dec 2019 For more information, please visit the IRAS website. Budget 2020: S Pass ratio to be reduced to 15% for 3 sectors. To help companies with cash flow, a CIT Rebate of 25% of tax payable, capped at $15,000 per company, will be granted for Year of Assessment (YA) 2020. Based on: + 75% of Oct 2019 wages Eligible taxi hirers and PHC drivers will continue to receive the Special Relief Fund payments of $300 per vehicle per month until end-September. Responding To Challenges In A New Decade, B. The Jobs Support Scheme (JSS) will help enterprises retain their local employees (Singapore Citizens and Permanent Residents)1 during this period of economic uncertainty. Click on the links below to find out more about JSS. Budget 2019: PA rates increased to between $600 and $2,150, from between $500 and $1,770. All Singaporeans aged 21 years and above, who live in 1-room and 2-room HDB flats and do not own more than one property, will receive $300 in Grocery Vouchers this year, and $100 in 2021. LTA will also waive the $100 PHC vehicle outward conversion fee from May to September 2020. the SCCPL has given a 15% rebate to regional ferry operators to offset their rental fees for overnight berthing of vessels and counter rental at Tanah Merah Ferry Terminal for three months from March 2020. + 25% of Nov 2019 wages Apr 2020 (computed based on Oct 2019), Feb-Apr 2020 Eligible S'poreans to get remaining Budget payout of up to S$1,000 from June 18, 2020. As announced on 17 August 2020, the WSP will be extended to include lower-wage workers aged 35 and above in 2020 who received WIS payment for Work Year (WY) 2020, and who have not already qualified for WSP previously. As announced at Budget 2020, all Singaporean employees and self-employed persons who received Workfare Income Supplement (WIS) payments for work done in 2019 will receive a Workfare Special Payment (WSP) in 2020. Of these amounts, $300 of the Care and Support – Cash was paid out in April 2020 as part of the $600 Solidarity Payment. Otherwise, you will receive your Care and Support – Cash payout on 25 June 2020 directly in the same bank account in which you receive the Solidarity Payment in April 2020, or via cheque mailed to your NRIC-registered address between 30 June 2020 and 9 July 2020. View your Care and Support – Cash payment details. This will be on top of any The Care and Support Package will cost a total of about $4.6 billion. Responding To Challenges In A New Decade, B. https://www.iras.gov.sg/irashome/Schemes/Businesses/Jobs-Support-Scheme--JSS-/, https://www.iras.gov.sg/irasHome/wcs.aspx, https://www.mom.gov.sg/newsroom/press-releases/2020/0327-about-88000-to-automatically-benefit-from-self-employed-person-income-relief-scheme, https://www.iras.gov.sg/irashome/Property/Property-owners/Working-out-your-taxes/Property-Tax-Reliefs/. Companies that file their ECI from 19 February 2020 to 31 December 2020; Companies that file their ECI before 19 February 2020, and have ongoing instalment payments to be made in March 2020. THE government is setting aside S$3 billion more for the Care and Support Package first announced in Budget 2020 on Feb 18, Deputy Prime Minister and Finance Minister Heng Swee Keat said in Parliament on Thursday as he unveiled a Resilience Budget in response to the Covid-19 pandemic. + 75% of Apr 2020 wages, + 50% of Feb 2020 wages As announced in the Resilience Budget on 26 March 2020, all companies with CIT payments due in the months of April, May, and June 2020 will be granted an automatic three-month deferment of these payments. different sectors, as shown in the table below. The government will co-fund the first $4,600 of gross monthly wages (includes employee CPF contributions but excludes employer CPF contributions) to each local employee for nine months. S'poreans to get S$600 payout, brought forward to Apr. If you intend to provide your bank account details, or update your bank account details, you may do so at. âBudget 2020 doesnât concern me,â you say. rebate to these operators. Food Services, Tier 3 (Self-employed persons (SEPs) with personal income tax (PIT) payments due in the months of May, June, and July 2020 will be granted an automatic three-month deferment of these payments. + 75% of Dec 2019 wages, + 75% of Oct 2019 wages Tags: budget 2020. Job Redesign Place-and-Train (PnT) Programme for Hotel Industry, Job Redesign PnT Programme for Food Services Industry, Professional Conversion Programme (PCP) for Meetings, Incentives, Conventions and Exhibitions (MICE), Attractions and Tour and Travel, PCP for Digital Operations Talents for the Furniture Industry, PnT Programme for Air Transport Coordinators. Airlines operating flights between mainland China and Singapore have been most adversely affected thus far by the COVID-19 outbreak. The WSP provides a cash payout of $3,000 for all eligible Singaporeans. These will be paid via PayNow (NRIC). The level of connectivity will be adjusted based on needs. As announced on 26 March 2020, to help alleviate costs for businesses, the government will enhance rental waivers. + 50% of Dec 2019 wages, + 75% of Oct 2019 wages Eligible employees and Self-Employed Persons will receive the same amount of $3,000, which will be paid over two equal payments of $1,500 each, in July and October 2020. The May 2020 and subsequent JSS payouts will include support for qualifying shareholder-directors. – 25% of Oct 2019 wages)A1, + 25% of Feb 2020 wages The May 2020 payout will also include back-payment for companies with qualifying shareholder-directors whose wages were excluded from the first JSS payout in April 2020. The Land Transport Authority will grant further waivers to operator licence fees totalling about $3 million. All eligible Singaporeans will now receive a Care and Support â Cash payout of $900, $600 or $300, depending on their income. May 2020 (computed based on Nov 2019) 14 Feb 2020. This measure will be implemented from 1 March 2020 to 31 December 2020. Administered by Enterprise Singapore, the Temporary Bridging Loan Programme (TBLP) was launched in March 2020 to provide additional cash flow support for tourism sector enterprises for one year (till 31 March 2021). 1 st Payout. (adjusted for payout given in advance in May 2020). Help with daily expenses ⢠Enhanced Care and Support â One-off cash payout will be tripled, from the earlier announced $100-$300, to a range from $300 to $900, depending on income. I want cold, hard cash ⦠SINGAPORE: About 470,000 lower-income Singaporean workers will receive their Workfare Special Payment payouts from Oct 28, the Ministry of Finance said on Friday (Oct 23). Enterprise Financing Scheme – SME Working Capital Loan and Trade Loan, Loan Insurance Scheme and Temporary Bridging Loan Programme, Property Tax Rebate for Non-Residential Properties, Website: https://www.iras.gov.sg/irashome/Property/Property-owners/Working-out-your-taxes/Property-Tax-Reliefs/ supplementary payout. Month X in the table above excludes April and May 2020, for which the JSS support levels will be 75% for all sectors, equivalent to Tier 1. Eligible to receive a $3,000 WSP, which will be paid over two equal payments of $1,500 each: Singaporeans who received WIS payment for WY2020, but not WY2019, Eligible to receive a $3,000 WSP, which will be paid in full on. 2 nd Payout. In addition to the economy-wide measures to help workers and businesses, sectors directly affected by the COVID-19 outbreak will get additional support. All Singaporeans aged 21 and above this year will get a one-off cash payout between SGD$100 and SGD$300, based on their assessable income earned for the evaluation year of 2019. Some examples are: The above PT Rebate does not apply to any other premises or part of any premises used or intended to be used for any residential purpose. Here are the 3 ways the Resilience Budget 2020 will help families cope during this uncertain period. They will receive assistance, such as rental rebates. ⢠On 26 March 2020, the Care and Support â Cash was tripled. (adjusted for payout given in advance in Apr 2020), May-Jul 2020 The other cash payouts that were earlier announced in the Resilience Budget under the enhanced Care and Support Package will be paid out in June 2020 (brought forward from August and September 2020). The details of WSP were announced in this press release on 24 July 2020. Also Read Budget 2020: Every Sâporean To Get Cash Payout Of $700 To $1,600 Over 5 Years. The Government will provide funding support to Singapore carriers to maintain a minimum level of air connectivity. + 50% of Nov 2019 wages The CIT payments deferred from April, May, and June 2020 will instead be collected in July, August, and September 2020 respectively. The details of the Care and Support – Cash were announced in this press release on 4 June 2020. On top of the regular GSTV – U-Save, eligible households will receive their GSTV – U-Save Special Payment over two quarters in April 2020 and July 2020, and eligible larger households with five or more members will receive their additional GSTV – U-Save rebate over two quarters in October 2020 and January 2021. + 75% of Mar 2020 wages To date, FairPrice, Giant, Prime Supermarket, and Sheng Siong Supermarket have agreed to accept these vouchers. Those who wish to receive payouts earlier via direct bank crediting can do so at http://www.workfare.gov.sg (using SingPass) by 14 October 2020 to receive October’s WSP directly in their bank accounts. air connectivity. our supply chains open during the COVID-19 pandemic. SINGAPORE - All Singaporeans aged 21 and older this year will get a one-off cash payout of between $100 and $300, depending on their income. + 75% of Jun 2020 wages Find out more about the Care and Support Package here. Capped at first $4,600 of gross monthly wages SINGAPORE - All Singaporeans aged 21 and older this year will get a one-off cash payout of between $100 and $300, depending on ⦠⢠Those who own more than one property will receive $300, regardless of ⦠Suntec Singapore Convention and Exhibition Centre; Backpackers’ hostel, boarding house, guest house or students’ hostel that is not a hotel; Medical clinic, hospital, nursing home, hospice, place of rehabilitation or convalescent home; Premises used for an industrial or agricultural purpose.