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Feb 16, 2021 · To address the economic uncertainties brought about by COVID-19, Deputy Prime Minister and Minister for Finance Heng Swee Keat announced that $11 billion will be set aside in Budget 2021 for the COVID-19 Resilience Package. The Package will focus on three prongs: Safeguarding public health and re-opening safely.
- 5 ways the Resilience Budget will help Singapore's workers
The Jobs Support Scheme will be extended. The Government...
- 5 ways the Resilience Budget will help Singapore's workers
- Support For Companies
- Support For Self-Employed
- Property Tax Measures
- Government Cash Grant
Automatic Deferment of Corporate Income Tax (CIT) Payments
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. The CIT payments that are deferred from April, May and June 2020 will be collected in July, August and September 2020 respectively. Companies can expect to receive a letter from IRAS by April 2020. Those on GIRO and have ongoing CIT payments due in April, May and June 2020 can view their revised instalment plans at myTax Portalin early May 2020. C...
A. Automatic Deferment of GIRO Deductions for Self-Employed Individuals
Your income tax payments due in May, June and July 2020 will be deferred automatically for three months to August, September and October 2020 respectively. This means that there will be no income tax payments in May, June and July 2020. No application is required.
B. Payment Extension for One-Time Payments
For one-time income tax payments due in May, June and July 2020, there will be a 3-month deferment to August, September and October 2020 respectively. For example, if the due date is initially 15 May 2020, the extended due date for payment will be 15 August 2020. No application is required.
Non-residential properties will be granted property tax rebate for the period 1 January 2020 to 31 December 2020. Commercial properties badly affected by COVID-19 like hotels, serviced apartments, tourist attractions, shops and restaurants will receive a 100% rebate. Other non-residential properties such as offices and industrial properties will ge...
The Government announced on 26 May 2020 as part of the Fortitude Budget, a Government cash grant to qualifying property owners that would support rental relief for Small and Medium Enterprises (SMEs) and specified Non-Profit Organisations (NPOs) tenant-occupiers of prescribed properties. The amendments to the COVID-19 (Temporary Measures) Act 2020 ...
Subsequently, DPM Heng introduced the Resilience Budget on 26 March 2020, the Solidarity Budget on 6 April 2020, the Fortitude Budget on 26 May 2020, the Ministerial Statement on 17 August 2020, and the Ministerial Statement on 5 October 2020.
Government will help employers by paying 25% of the first $4,600 of monthly wages for every local worker in employment, for 9 months. Higher support for sectors more affected by COVID-19, of up to 75%. Firms will receive the payouts in May, Jul, and Oct 2020. Wage Credit Scheme.
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Mar 26, 2020 · The Jobs Support Scheme will be extended. The Government will co-fund nine months of wages - 75% in April and May, and up to 75% for the remaining months. In heavily impacted industries like air transport, tourism and food services, firms will receive higher co-funding at 50% to 75% of wages.
Mar 28, 2020 · In just five weeks, Mr Heng is back in Parliament to unveil a supplementary Resilience Budget totalling some S$48.4 billion, almost half of the whole earlier national budget.
