Ministerial Statement on Continued Support for Workers and Jobs 2020 - Nexia TS
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Ministerial Statement on Continued Support for Workers and Jobs 2020
Deputy Prime Minister, Coordinating Minister for Economic Policies and Minister for Finance, Mr Heng
Swee Kiat, delivered a Ministerial earlier this week, Monday, 17 August 2020, presenting the Government's
further plans in Singapore's fight against the COVID-19 pandemic, while also highlighting the need to adapt
to a rapidly changing situation.
DPM Heng outlined how we are advancing our strategies in three key areas:
1. Continue to support for jobs and create new ones,
2. Provide further support for sectors which are hit the hardest; and
3. Position ourselves to seize growth opportunities in a post-COVID-19 world.
The Government has dedicated close to $100 billion over four Budgets to support our people and
businesses in this crisis.
1
Protecting Jobs
Jobs Support Scheme (JSS)
The JSS payouts benefit over 2 million local workers employed in more than 150,000 firms.
• Support for wages has been extended up to March 2021, from the current August 2020.
• Up to 50% adjusted support based on projected recovery of the different sectors.
Tier 1 - 50% Tier 2 - 30% Tier 3 - 10%
(until Mar 2021) (until Mar 2021)
Aerospace Arts & Entertainment • Until Dec 2020 for sectors that are
Aviation Food Services managing well
Tourism Land Transport • Until Mar 2021 for all other sectors
Built Environment Marine & Offshore
Retail
Creating Job Opportunities
Jobs Growth Incentive
A $1 billion programme to be implemented to support firms to increase their headcount of local
workers over the next six months.
For each new local hire, the Government will provide a wage subsidy for 12 months:
• Up to 25% for those below 40 years old, subject to a cap
• Up to 50% for those aged 40 and above, subject to a cap
Supporting Workers
COVID-19 Support Grant
• The application period for the grant is extended to December 2020,
• The grant is open to both existing CSG recipients and new applicants from 1 October 2020,
• Unemployed applicants must demonstrate job search or training efforts to qualify.
Workfare Special Payment
• The eligibility has been widened to include those who received Workfare Income Supplement for work
done in 2020, and who are not already receiving the Special Payment,
• One-off payment of $3,000 to be received from October 2020 onwards.
2
Preserving Core Capabilities
Further support will be given for the hardest-hit sectors such as aerospace, aviation, and tourism to retain
their core capabilities.
$187 million will be used to extend support measures in teh Enhanced Aviation Support Package up to March
2021:
• Cost relief for our airlines, ground handlers, cargo agents, and airport tenants,
• Support local carriers to regain Singapore's air connectivity to the world.
A temporary redeployment programme will be scaled up for workers in the aviation sector.
$320 million will be used to boost domestic tourism through tourism credits (SingapoRediscovers Vouchers).
Transforming Our Economy For A Post-COVID-19 World
Setting aside up to $150 million to enhance the Startup SG Founder programme in phases:
• Raise the startup capital grant,
• Continue to provide mentorship.
Workfare Special Payment
• The eligibility has been widened to include those who received Workfare Income Supplement for work
done in 2020, and who are not already receiving the Special Payment,
• One-off payment of $3,000 to be received from October 2020 onwards.
3Contact Us for A Discussion
Our tax specialists can assist you and your business:
Edwin Leow
Director, Head of Tax
edwinleow@nexiats.com.sg
Koy Su Hiang
Tax Associate Director
koysuhiang@nexiats.com. sg
Shaun Zheng
Tax Associate Director
shaunzheng@nexiats.com.sg
Jennifer Lee
Tax Associate Director
jenniferlee@nexiats.com.sg
Vincent Pang
Tax Manager
vincentpang@nexiats.com.sg
Gareth Goh
Tax Manager
garethgoh@nexiats.com.sg
We have taken great care to ensure the accuracy of this publication. However, the publication is written in general terms and you
are strongly recommended to seek specific advice before taking any action based on the information it contains. No responsibility
can be taken for any loss arising from action taken or refrained from based on this publication. © 2020 Nexia TS Singapore.
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