DPM Heng Swee Keat released a Solidarity supplementary budget to help firms and singaporeans through the circuit breaker phase. This budget amounts to a total of 5.1 Billion SGD.
This budget focuses on 3 main points,
1. Enhance protection for jobs and livelihood
Enchanced Job Support scheme(JSS)
1.ALL FIRMS are now eligible for 75% of job support for their workers for the month of April.
2.Governement will pay 75% of the first 4,600SGD per local employee
3.First JSS payout will be moved from end May to April
Helping Self Employeed Persons(SEPs)
1. Automatic Inclusion into SEP Income Relief Scheme(SIRS) for SEPs who also earn a small income from employement work
2. Enhanced Annual value of property criterion of 21,000 SGD an increase of 8,000 SGD from previous value.
3. Eligible SEPs to recieve quarterly payouts of 3,000 SGD each in May, July and October 2020.
2. Strengthen Support for firms and workers
1. Waiver of Foreign Worker Levy(FWL) due in April 2020
2. FWL Rebate of 750 SGD in April 2020 from levies paid this year
3. Laws to ensure property owners pass rental rebate
4. 1 month rental waiver for offices,industrial and agriculture tenants of government
5. Government risk share increased to 90% for EFS-Trade Loan, EFS SME working capital loan and Temporary Bridgin Loan Programme.
3. Provide more help to singaporeans
1. Cash Payment for Singaporeans , Additional 300 SGD for all aged 21 and above
2. 300 SGD from enhanced Core and Support will be paid in april 2020
For more information view the full budget here
Click here to view SRAs EDM regarding the budget
Organiser: Singapore Retailers Association
Contact Person: Anwar