Singapore
  • Hong Kong
  • UK
  1. Osome Blog Singapore
  2. Wage Support & Rental Relief for Businesses in Singapore’s Stabilisation Phase

Wage Support & Rental Relief for Businesses in Singapore’s Stabilisation Phase

Updated for 21 October 2021

Amid a surge in the number of COVID-19 cases in Singapore in recent weeks, tighter COVID-19 restrictions will be implemented from 27 September to 21 November 2021.

With the group size limit reduced to 2 vaccinated people for dining-in at food and beverage outlets and reduced cap on social gatherings, many businesses registered in Singapore – especially Small- and Medium-sized Enterprises (SMEs) – will be affected.

However, Singapore’s Finance Minister Lawrence Wong has announced additional support measures for these Singapore-registered companies.

To assist businesses such as retailers and food and beverage (F&B) outlets cope with the tightened COVID-19 restrictions, Lawrence Wong has announced that these businesses will receive approximately $650 million in rental waivers, wage subsidies and other forms of support. This amount will be funded from higher-than-expected revenues accumulated by the Government to date, with no additional draw on past reserves.

For more customised advice in getting your company’s finances in order, talk to our experienced accountants in Singapore. We also assist e-commerce companies with their accounting tasks. Otherwise, do read on to find out more about the extended support schemes.

  1. Enhanced Jobs Support Scheme

From 27 September to 21 November 2021, the JSS will be enhanced for sectors that are affected. This includes enhancing the Jobs Support Scheme (JSS) for sectors such as Food & Beverage businesses, fitness studios, gyms, arts education centres and performing arts organisations.

Additionally, this 25 per cent enhanced wage support is also applicable to tourist attractions, retail sector, art galleries, affected personal care services, museums, licensed hotels, cruise and regional ferry operators, cinema operators, travel agents, MICE (meetings, incentives, conferencing and exhibitions) organisers, as well as other family entertainment centres.

Affected Sectors Wage Support

Sectors that were closed or sectors with further safe management measures implemented, including:

Food & Beverage businesses, fitness studios, gyms, arts education centres and performing arts organisations.

Increased to 25%

Sectors that are significantly affected, including:

Tourist attractions, retail sector, art galleries, affected personal care services, museums, licensed hotels, cruise and regional ferry operators, cinema operators, travel agents, MICE (meetings, incentives, conferencing and exhibitions) organisers, as well as other family entertainment centres.

Increased to 25%

These businesses had previously received 10% of the Job Support Scheme support from 19 to 31 August 2021.

How Do I Apply For The Support?

Employers are not required to apply for the JSS. For eligible employers, the Inland Revenue Authority of Singapore (IRAS) will notify them by mail to inform them of the support tier and the JSS payout amount payable to them.

  1. Rental Relief

Under the Rental Support Scheme, government-owned commercial property tenants will receive rental waivers. This means government-owned commercial properties will have their rent offset for the entire duration of tightened COVID-19 measures from 27 September to 24 October 2021.

On the other hand, owner-occupiers and qualifying tenant-occupiers of privately-owned commercial properties will receive a two-week rental waiver under the Rental Support Scheme.

Update for Extended Stabilisation Phase in November:

There will be a half-month rental waiver in November given to the following businesses:

  • qualifying tenants of government-owned commercial properties
  • cooked food and market stallholders in food centres managed by the National Environment Agency (NEA) or NEA-appointed operators

Qualifying tenant-occupiers and owner-occupiers of privately owned commercial properties will also be given a half-month rental relief cash payout under the Rental Support Scheme (RSS).

How Do I Apply For The Support?

• Tenants: Check your eligibility here and submit an application

• Owner-occupiers: Check your eligibility here and submit an application

For tenants and owner-occupiers who had previously applied for the first payout, they do not need to apply for the second payout. These applicants will automatically receive the second payout should they be eligible.

  1. Emerge Stronger From The COVID-19 Crisis

Focus your energy on growing your business, so your company can emerge stronger. We know how tough this period can be, but hang tough for there is light at the end of the tunnel.

Stay focused on growing your business, so your company can emerge stronger. Leave your accounting pain points to us, because we know that preparing financial statements yourself is a chore.  

Tips

We do affordable online accounting for busy founders, with a human expert who has your back and works alongside you to ensure your business prospers while being compliant. Get in touch with us today!

Share this post:

Tips to run your business smarter.
Delivered to you monthly.

You'll receive a verification email you'll have to open and confirm the subscription.

You might like it

E-commerce

Everything You Need To Know About Amazon Fees

Although Amazon is a relatively new player in the Singapore marketplace, it’s been ranked as one of the most reputable companies in the world. It can be hugely advantageous to small and medium-sized enterprises looking to grow their audience, build brand awareness and boost sales.

E-commerce

When Should I Hire An Accountant For My E-commerce Store in Singapore?

Starting an online business is an exciting journey. According to the Singapore Department of Statistics, online retail sales made up 15.2% of the retail trade in September 2021.

E-commerce

How To Upsell to Your E-commerce Customers

We are inundated daily with countless ads throughout our day, both online and offline. As an e-commerce store retailer, one of the challenges that you may face is trying to get your products and message across to prospective customers.

E-commerce

Types of Business Models for E-commerce

If you are planning to start a new e-commerce business venture, this is the best time to do it! For seasoned business owners who are thinking of diversifying their business into e-commerce, you are at the right place.

E-commerce

An E-commerce’s Checklist To Prepare for 2021 Holiday Sales

Although the sales period will mean that your customers’ shopping carts will be busier, this also brings about its own set of challenges for your online business. Follow our holiday season checklist to ensure your business is well equipped for the shopper surge.

Accounting

What Important Records Must I Keep As A New Business Owner?

Good business record keeping is crucial, from managing costs for legal, regulatory or tax reasons to simply managing and improving your business. If you are just starting up your business, it might not be the first thing that comes to your mind, but it can help you build a strong foundation.

Running My Business

3 Things To Consider Before Renting Your First Office Space

If you have always been working from home for your small business and are contemplating moving to a bigger space to accommodate your staff and to have a central office location, you may be looking out for office spaces to rent.

E-commerce

Digital Payment Trends For E-commerce Sellers To Know

Today, consumers are switching from traditional payment methods, such as cash, cheque and cards to digital payment. The global pandemic has fuelled this unprecedented shift in the consumer’s behaviour.

E-commerce

Creating an Invoice When Selling on Amazon

This article helps Amazon sellers who are finding out how to create, access and share invoices on Amazon.

E-commerce

12 Ways To Drive More Traffic to Your Online Store

When your website is finally live, you want to share it with as many people as possible. How do you get people to your website and excited about your products and shop from your store?

E-commerce

A Design Guide for E-commerce Websites

If you’re looking to improve your e-commerce page and improve sales, you might want to learn the fundamentals of how to design a good website.

Entrepreneur's Bootcamp

Best Practice Invoicing Tips for SMEs

This article will help Singapore-based SMEs get to grips with the best invoicing practices. Take a look at the tips and how-tos to guide you toward being more streamlined and savvy.

Tips to run your business smarter. Delivered to you monthly.

You'll receive a verification email you'll have to open and confirm the subscription.

We’re using cookies! What does it mean?