1. One-off cash payouts up to S$900
- Each citizen aged 21 and above in 2020 will receive S$300, S$600, or S$900, depending on their income.
- Each parent with at least one child 20 years old and below will receive an additional S$300.
- The earlier-mentioned S$100 PAssion card top-up will be paid in cash to avoid queues (for senior citizens)
- For one year, the Government will freeze fees and charges for government services
- Student loan repayments and interest charges will also be suspended for one year.
2. Jobs Support Scheme (JSS)
- Government will be co-funding the following ratio of wages up to a cap of S$4,600
- Local workers: 25%
- Food services sector: 50%
- Aviation and Tourism sector: 75%
- Lower income worker, including the self-employed, get a special payment of S$3000 each
3. SEP Income Relief Scheme
- Eligible self-employed persons will receive $1,000 a month for 9 months
- They will also be given enhanced hourly training allowances, which will be raised from S$7.50 to S$10. This training support scheme will be extended to December 2020
- Beneficiaries can apply for these benefits at their nearest social services offices
4. For job seekers
- S$800 per month will be given over 3 months to those who have lost their jobs due to the economic impact of COVID-19 crisis
- Helps tide them over while they look for a new job or go for training
- SGUnited Traineeship programme for first-time job seekers was launched to help them
- Heng Swee Keat also vowed to create about 10,000 jobs over the next year
5. Stabilising Businesses
- Deferment of income tax payments for companies and self-employed persons will be automatically granted for three months.
- Commercial properties badly affected by COVID-19, such as hotels, tourist attractions, shops and restaurants, will not need to pay property tax for 2020.
- S$350 million enhanced aviation support package will fund measures such as rebates on landing and parking charges, and rental relief for airlines, ground handlers, and cargo agents.
- Mr Heng also said S$90 million will also be set aside to help the tourism industry rebound strongly “when the time is right”.
The government is dipping into past reserves to fund an additional S$48 billion worth of measures. This is the second time in history (first time being during the global financial crisis in 2009) that past reserves is drawn.
Not bad leh, right?
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