SINGAPORE: More than S$3 billion in payouts will be disbursed to employers under the Jobs Support Scheme (JSS) from Mar 30.
The payouts will be given to more than 150,000 employers to support the wages of more than 2 million local employees, said the Inland Revenue Authority of Singapore (IRAS) and Ministry of Finance (MOF) on Thursday (Mar 25).
“With this payout, over S$24.5 billion of JSS support would have been disbursed since the introduction of the scheme at the Unity Budget in February 2020,” they said in a press release.
The JSS provides wage subsidies to help companies retain and pay their local workers as businesses take a hit from the COVID-19 pandemic.
Employers who made mandatory Central Provident Fund (CPF) contributions for their local employees for the months of September to December 2020 by the stipulated deadlines will qualify for the payout.
For the upcoming payment in March, employers will receive up to 50 per cent support for the first S$4,600 of gross monthly wages paid in September to December 2020.
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Employers in the aviation, aerospace and tourism sectors will receive 50 per cent support. Those in food services, retail, arts and entertainment, land transport, as well as marine and offshore sectors will receive 30 per cent.
Employers in the built environment sector will receive 50 per cent support for wages paid in September and October 2020, and 30 per cent for November and December 2020.
All other sectors will receive 10 per cent support.
With the economy reopening in phases after the “circuit breaker” period, firms that were not allowed to resume on-site operations will continue to receive 50 per cent support until they are allowed to do so, or until March 2021, whichever is earlier, said MOF and IRAS.
Eligible employers will be notified by post of their payout amount. They can also log in to myTax Portal to view the electronic copy of their letter.
DELAY IN PAYOUTS FOR 5,500 EMPLOYERS
About 5,500 employers will have their March 2021 payouts delayed until end-April, pending a reconciliation by the Ministry of Trade and Industry on firms’ reopening dates used in the computation of the payouts.
All affected employers will be notified via letters and emails. They can also visit go.gov.sg/JSSreopeningdate. More information will be provided following the completion of the reconciliation.
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Employers with PayNow Corporate or GIRO arrangements with IRAS can expect to receive the payouts from Mar 30. Other employers will receive their cheques from Apr 5.
As announced in the Budget 2021 statement last month, the JSS will be extended by up to six months for firms in sectors that continue to be hard-hit, covering wages paid up to September.
“With the extension of the JSS, these businesses will receive wage support for up to 23 months since the introduction of the scheme at the Unity Budget to help them retain their workers,” said MOF and IRAS.