It's fishy I dun like the smell of it!
Employers to receive S$900m in second payment of Jobs Credit
SINGAPORE: More than 100,000 employers will be getting the second payment of Jobs Credit next Tuesday.
These employers, with 1.4 million local workers on their payroll, will receive S$900 million.
The Jobs Credit Scheme is part of the S$20.5 billion Resilience Package announced in this year's Budget.
Under the one-year scheme, employers will get four cash grants to help them save jobs.
Employers will receive a 12 per cent cash grant on the first S$2,500 of each month's wages for every employee on their CPF payroll.
The first Jobs Credit payment was made on March 31. The remaining two payments will be made on September 30 and December 31.
The Inland Revenue Authority of Singapore (IRAS) will notify eligible employers by Thursday.
A Finance Ministry statement says some employers may see adjustments to the amount that they received in the first payment.
These changes could be due to extension of CPF contribution deadline to qualify for the first Jobs Credit payment, or adjustment to Jobs Credit for employees who have worked for multiple employers or who are shareholder-directors of the company.
Shareholders who are also directors of companies are not eligible for Jobs Credit payment.
- CNA
Employers to receive S$900m in second payment of Jobs Credit
SINGAPORE: More than 100,000 employers will be getting the second payment of Jobs Credit next Tuesday.
These employers, with 1.4 million local workers on their payroll, will receive S$900 million.
The Jobs Credit Scheme is part of the S$20.5 billion Resilience Package announced in this year's Budget.
Under the one-year scheme, employers will get four cash grants to help them save jobs.
Employers will receive a 12 per cent cash grant on the first S$2,500 of each month's wages for every employee on their CPF payroll.
The first Jobs Credit payment was made on March 31. The remaining two payments will be made on September 30 and December 31.
The Inland Revenue Authority of Singapore (IRAS) will notify eligible employers by Thursday.
A Finance Ministry statement says some employers may see adjustments to the amount that they received in the first payment.
These changes could be due to extension of CPF contribution deadline to qualify for the first Jobs Credit payment, or adjustment to Jobs Credit for employees who have worked for multiple employers or who are shareholder-directors of the company.
Shareholders who are also directors of companies are not eligible for Jobs Credit payment.
- CNA
