Employers to get S$2.2 billion from Jun 30 under Jobs Support Scheme
More than 140,000 employers in Singapore will receive S$2.2 billion beneath the Jobs Support Scheme (JSS) from Jun 30.
The payouts will get to support the wages greater than 2 million local employees, said the Ministry of Finance (MOF) and Inland Revenue Authority of Singapore (IRAS) on Tuesday (Jun 22).
"With this payout, a lot more than S$26.7 billion of JSS support could have been disbursed since the introduction of the scheme at the Unity Budget in February 2020," said the joint media release.
The JSS subsidies the wages of Singaporeans and everlasting residents to greatly help companies afflicted by the COVID-19 pandemic.
Employers who made mandatory Central Provident Fund (CPF) contributions because of their local employees for January to March this season by the stipulated deadlines will have the payout.
For the upcoming payout in June, employers in the aviation, aerospace, and tourism sectors will receive 50 % subsidy for the first S$4,600 of gross monthly wages paid from January to March.
Employers in the food services, retail, arts and entertainment, land transport, built environment, and marine and offshore industries will receive 30 % subsidy.
Other sectors will get a subsidy of 10 per cent. Sectors that won't have the subsidy are biomedical sciences, precision engineering, electronics, financial services, information and communications technology, media, postal and courier, online retail, and supermarkets and convenience stores.
Eligible employers will be notified by post of their payout amount this month. They are able to also get on myTax Portal to see the electronic copy of their letter.
Employers who have registered for PayNow Corporate by Jun 25 or have existing GIRO arrangements with IRAS can get to receive the payouts from Jun 30. Others can get to get their cheques from Jul 5.
The Government previously announced that the JSS will be extended to sectors drastically afflicted by the COVID-19 measures from May 16 to Jul 11.
Employers in these sectors will receive 50 % subsidy through the period, while those in other sectors will receive 30 %. From Jul 12 to 25, all affected sectors will continue steadily to receive 10 % subsidy.
These payouts will be disbursed in September.
MOF and IRAS reminded employers to pay the right amount of CPF for their employees, based on actual wages paid.
"Employers’ CPF contributions are used to look for the amount of JSS payout. The penalties for just about any try to abuse the JSS are severe," they said.
Other than having their JSS payouts denied, offenders could be charged and may confront 10 years' jail and a fine.
Businesses or people who desire to report any malpractices or potential abuses of the scheme can do so via email to jssreport@iras.gov.sg or online.
"As part of the checks for JSS eligibility, a tiny number of employers will receive letters from IRAS asking them to conduct a self-review of their CPF contributions and also to provide declarations or documents to substantiate their eligibility for JSS payouts," said the release.
Their June payouts will be withheld pending the self-review and verifications by IRAS, and you will be disbursed after.
Source: www.channelnewsasia.com
