Singapore Billion Disbursed Tender

Over 140000 employers to receive this round of JSS payouts to retain and pay workers Over 140000 employers will receive payouts totalling over 5.5 billion from 29 October 2020 under the Jobs Support Scheme JSS to subsidise the June - August wages of about 1.9 million local employees. With this payout over 21.5 billion of JSS support would have been disbursed.In May the Government disbursed 75 JSS support to all employers for wages paid in May 2020 to provide immediate cashflow support during the Circuit Breaker1.Employers will receive support for wages paid in June July and August 2020 based on their respective support tiers. Employers in the aviation tourism and built environment sectors will receive 75 support those in the food services retail arts and entertainment land transport and marine and offshore will receive 50 support and employers in all other sectors will receive 25 support.In addition for firms in industries that were not allowed to resume on-site operations after the Circuit Breaker support levels will be topped up to 75 for the period that they were not allowed to resume operations.Eligible employers will be notified by post of their payout amount. They can also log in to myTax Portal to view the electronic copy of their letter.Earlier payouts for employers with PayNow Corporate or GIROEmployers with PayNow Corporate or GIRO arrangements with IRAS can expect to receive the JSS payouts earlier from 29 October 2020. Other employers will receive their cheques from 4 November 2020.Employers are encouraged to sign up for PayNow Corporate by 23 October 2020 to receive their payouts earlier and seamlessly. Employers can sign up for PayNow Corporate by linking their UEN NRIC FIN to their bank accounts via Internet banking for immediate approval by the banks. For assistance employers can approach their respective banks.17 months of wage support for most businesses to retain and pay workers As announced in the Ministerial Statement on 17 August 2020 the JSS will be extended by up to seven months to cover wages paid up to March 2021. This extended support varies based on the projected recovery of the different sectors. With the extension of the JSS most businesses will receive wage support for 17 months. Review of mandatory CPF contributions and penalties for abusing the JSSIt is vital that employers contribute the right amount of CPF for their employees based on actual wages paid. Employers CPF contributions are used to determine the amount of JSS payout. The penalties for any attempt to abuse the JSS are severe. Other than having their JSS payouts denied offenders can be charged under Section 420 of the Penal Code where they may face up to 10 years of imprisonment and a fine. As part of the checks for JSS eligibility a small number of employers will receive letters from IRAS asking them to conduct a self-review of their CPF contributions and to provide declarations or documents to substantiate their eligibility for JSS payouts. Their October 2020 payouts will be withheld pending the self-review and verifications by IRAS. The payout will be disbursed after the completion of the review.