What You Need to Know: Enhanced Job Support Scheme (JSS) & Rental Support Scheme (RSS)Download Now: FREE GST 2023 GuidebookDownload Now: FREE Employment Pass ChecklistDownload Now: Free Incorporation Checklist
More support for sectors impacted by COVID-19 restrictions
The Job Support Scheme (JSS) was first introduced in Budget 2020 to help retain jobs by subsidising the salaries of those working in sectors that were heavily impacted by the pandemic. In July 2021, it was updated that the JSS will include increased wage subsidies of 60% (up from the previous 50%). This will be in place for the performing arts and arts education, food and beverage, and sports sectors.
Other sectors that were not required to suspend their business, but were heavily affected such as retail, cinemas, museum and galleries, family entertainment centres and affected personal care services have increased wage support of 40%.
This support will be provided from 22 July to 18 August 2021. Thereafter, support will be tapered down to 10% from 19 August to 31 August 2021.
Rental Relief Framework
There will also be additional rent waivers under the Rental Relief Framework for small and medium enterprises (SMEs) and non-profit organisations with an annual revenue of not more than $100 million, that are tenants of commercial properties.
The government will provide an additional 4-week rental waiver for tenants of government-owned commercial properties. Tenants of private commercial properties will be provided with an additional 2-week rental relief cash payout.
This will be for the duration of Phase 2 (Heightened Alert). It is to be noted that the government is looking to require sharing of rental obligations between the Government, landlords and qualifying tenants.
Let your business Sprout!
Incorporate your business with Sprout, engage us for your secretarial needs and we will help you stay up to date with these support schemes. These are tumultuous times for many individuals and businesses but Sprout is happy to guide you through this period. Do reach out if you have any questions!