CONTINUING SUPPORT MEASURES – COVID-19

CONTINUING SUPPORT MEASURES – COVID-19

On 21 April 2020, Prime Minister, Lee Hsien Loong announced that the “circuit breaker” period will be extended for a further four weeks until 1 Jun 2020. It was explained that these drastic measures were inevitable in order to bring down the spread of the COVID-19 cases within the community. With this extension, further measures were introduced to support our people and businesses through the extended period, building on the measures introduced through the Solidarity Budget.

We are pleased to present you with these exclusive highlights to assist you in understanding the various initiatives that were unveiled.

ENHANCED JOB SUPPORT SCHEME (JSS)

In the Solidarity Budget, the JSS was enhanced to provide 75% wage support on the first S$4,600 of gross local employee wages across all sectors for the month of April 2020.

Enhancement

  • 75% enhanced JSS extended by 1 month to include wages for May 2020.
  • JSS will be extended to cover shareholder-directors with Assessable Income not exceeding S$100,000 in Year of Assessment 2019.
  • Qualifying shareholder-directors will also receive back-payment of the April 2020 payout together with the May 2020 payout.

Details on how the payouts are computed are as follows:

FOREIGN WORKER LEVY (FWL)

Enhancement

  • The FWL waiver and rebate will be extended by one month to May 2020.

All support and relief measures announced prior to the 21 April 2020 press release will continue to apply

If you wish to understand more on the above, please contact:

Tax Measures
Ms Ang Poh Geok – Email: [email protected]
Mr Yong Zhi Xiong – Email: [email protected]

Advisory
Mr Jack Lam – Email: [email protected]
Mr Gerald Tan – Email: [email protected]

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DISCLAIMER: This article is issued exclusively for the general information of clients and staff of Acutus. The material should not be relied upon without appropriate professional advice. Acutus will not be liable for any loss or damage arising out of or in connection with the material contained in this publication.

© April 2020. This article is contributed by Acutus Corporate Services Pte. Ltd. All rights reserved.

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