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More than 140,000 employers will receive over $7 billion payouts to cover wages of over 1.9 million local employees

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Budget (JSS)

15 April 2020

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First Jobs Support Scheme payouts starts from 15 April onwards

 

 

From Wednesday 15 April 2020 onwards, over 140,000 employers will start to receive the first tranche of payouts under the Jobs Support Scheme (JSS). Totalling over $7 billion, the payouts will help to cover the wages of over 1.9 million local employees in Singapore.

2.         Under the JSS, the Government will co-fund gross monthly wages paid to each local employee for a total of nine months. Companies with CorpPass access may log in to myTax Portal to view these notification letters from 20 Apr 2020. Employers do not need to apply to receive the JSS payouts.

3.         Eligible companies will be notified by post of their tier of support and the amount of JSS payout payable to them. Alternatively, companies may check if they are eligible for JSS via the IRAS website.

Enhanced Jobs Support Scheme

4.         The first tranche will be paid from 15 April 2020, based on wages paid from October-December 2019.

5.         Under the JSS, the Government will co-fund the first $4,600 of gross monthly wages[1] paid to each local employee for 9 months. There are three tiers of support for employers in different sectors: firms in the aviation and tourism sector will receive 75% co-funding, firms in the food services sector will receive 50% co-funding, and firms in all other sectors will receive 25% co-funding.

6.         As announced by Deputy Prime Minister and Minister for Finance Mr Heng Swee Keat on 6 April 2020, the JSS wage subsidy for the month of April 2020 will be enhanced to 75% for all sectors to help firms retain and pay their workers during the circuit breaker period. This additional subsidy will be paid together with the first tranche, computed first based on October 2019 wages, and subsequently adjusted based on actual wages paid in Apr 2020 in future JSS tranches. Subsequent tranches will be paid in July and October.

Receive earlier payout with PayNow Corporate or GIRO

7.         Employers that have earlier signed up for PayNow Corporate[2] or have existing GIRO[3] arrangements with IRAS will have payouts directly credited to their registered bank accounts on 15 April 2020. Companies currently not on GIRO or PayNow Corporate will start receiving their cheques from 23 April 2020 onwards.

8.         More information on the JSS is available on IRAS’ website (www.iras.gov.sg), or contact IRAS at 1800-352-4728.

Annex: Jobs Support Scheme FAQs (112 KB)

Issued by:

Ministry of Finance

Inland Revenue Authority of Singapore

Singapore

15 April 2020

[1] Include employee CPF contributions, but exclude employer CPF contributions

[2] Companies can sign up for PayNow Corporate by linking their company’s UEN (without suffix) to their bank account via internet banking. For assistance, please approach the banks.

[3] Once registered for GIRO for Income Tax/GST, this will be the default payment mode for IRAS’ related transactions such as tax payments.

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