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Deadline for Employers to Benefit from Final Payment of Jobs Credit- 14 May 2010

28 April 2010

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Employers will have to make CPF contributions for their employees for the month of April by 14 May 2010 in order to benefit from the final payment of Jobs Credit on 30 June 2010.

The amount that employers will receive will be computed based on their employees on the CPF payroll for the month of April 2010, and the wages paid to these employees from January to March 2010.

There will be no extension of the deadline and employers are advised to make CPF payments on time in order to qualify for the final payment of Jobs Credit.

As the Jobs Credit scheme will cease after the final payment in June 2010, employers are encouraged to present their cheques early in order to claim for their Jobs Credit. More than $4 billion of Jobs Credit has been paid to employers in five tranches since the Jobs Credit scheme was rolled out in March 2009.

For employers with any unclaimed Jobs Credit cheques that have expired, please visit www.iras.gov.sg or call 1800 356 4055 for more information.

MINISTRY OF FINANCE
28 April 2010

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