No matter whether you’re a struggling business owner or an employee worried for the future of your company, trust me, Christmas is coming early this year.
Govt Giving Over S$200 Million in Rental Support To Businesses From 22 Sep
From 22 Sep 2021, the authorities will be giving out over S$200 million under the Rental Support Scheme payout to businesses in Singapore.
For those of you who’ve forgotten what it’s all about, it’s basically helping you to pay for your space; and unlike the previous time where some of the financial relief reportedly got stuck at the landlord level, they’ll be giving it directly to tenants and owner-occupiers.
This move is part of the S$1.1 billion package previously announced back in July 2021 during the Heightened Alert phase, which you can read more about here.
The first payout was made back in Aug 2021, 2 weeks ahead of schedule.
And now, the second payout will be given out one month ahead of schedule.
The reason? So that businesses can receive some cash relief “as soon as possible”.
Who’s Getting It
According to the Inland Revenue of Singapore (IRAS) and the Ministry of Finance (MOF), the cash equivalent to half a month of rent (22 Jul to 18 Aug) will go to small to medium enterprises (SMEs) and eligible non-profit organisations earning less than a hundred million dollars a year.
They must also be tenants or owner-occupiers of qualifying commercial properties.
About 35,800 tenants and owner-occupiers will be given the payout, they said.
How To Know If You Qualify
Those who have applied and qualified for the first payout need not reapply, the authorities said, they will automatically be included in the second payout.
You can also check if you qualify via myTax Portal from 22 Sep 2021, or wait to receive a letter notifying you of your eligibility.
You can also check it out here.
For those who haven’t applied for the relief, and wish to get some help, you can submit your application on IRAS’s website here between 29 Sep and 12 Nov 2021.
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Feature Image: Igor Plotnikov / Shutterstock.com
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