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Eligible households with five or more members will receive an extra rebate, which means they will receive 2.5 times their usual rebate.Eligible Singaporean households living in HDB flats will also receive rebates to offset between 1.5 and 3.5 months of service and conservancy charges over the year.Companies will receive support to defray wage costs during this difficult period.Two schemes - the new Jobs Support Scheme and the Wage Credit Scheme, which will be enhanced - will help support enterprises and also help workers stay employed as part of a larger $4 billion Stabilisation and Support Package.The Government will offset 8 per cent of Singaporean and permanent resident employees' wages, capped at $3,600 per employee monthly, for three months.This will cost the Government $1.3 billion for the over 1.9 million local employees in Singapore.The monthly wage ceiling will be raised from $4,000 to $5,000 for qualifying wage increases in 2019 and 2020.The co-funding levels will be increased by five percentage points to 20 per cent for 2019 and 15 per cent for 2020.This will see the Government provide about $1.1 billion in support to around 90,000 enterprises which will benefit more than 700,000 Singaporean employees.A corporate income tax rebate at the rate of 25 per cent of tax payable, capped at $15,000 per company, will be granted for the tax year of assessment 2020.The rebate, which will cost the Government about $400 million, will benefit all tax-paying companies.Several tax treatments under the corporate tax system will also be enhanced for one year to ease cash flow for companies.The Enterprise Financing Scheme's Working Capital Loan, which helps small and medium-sized enterprises access financing for working capital needs, will be enhanced for one year from March 2020.The maximum loan quantum will be raised from $300,000 to $600,000, and the Government's risk share will be increased to 80 per cent, up from the current 50 per cent to 70 per cent.Tenants and lessees of government-managed properties can also approach the agencies to discuss options for more flexible rental payments, such as instalment plans.Five sectors directly hit by the coronavirus outbreak - tourism, aviation, retail, food services, and point-to-point transport services - will receive additional support under the Adapt and Grow Initiative for their operating costs and cash flow, as well as to retain and re-skill workers.The funding support duration for re-skilling for these sectors will be extended from the current three months to a maximum of six months, and the Government will support employers in these affected sectors to retain and train more than 330,000 local workers.A 30 per cent property tax rebate for 2020 will be granted for some components of licensed hotels and serviced apartments, as well as prescribed meetings, incentives, conventions, and exhibitions (Mice) venues.International cruise and regional ferry terminals will receive a 15 per cent property tax rebate, and the integrated resorts will receive a 10 per cent property tax rebate.The Government will also work with participating financial institutions to introduce a Temporary Bridging Loan Programme for a year to provide additional cash-flow support for tourism sector enterprises.This includes airlines, companies in the cargo industry, and other airport stakeholders such as retail and food and beverage tenants at Changi Airport, which will also receive a 15 per cent property tax rebate.Food services and retail establishments will receive support as well, with rental waivers for hawkers operating in National Environment Agency-managed hawker centres and markets and commercial tenants of government agencies. No. The criteria for lifetime wages and household monthly income per person will also be raised.There will also be a new payout tier for seniors whose monthly household income per person is between $1,300 and $1,800; they now do not receive Silver Support.Eligible seniors will be notified by CPF Board and start getting payouts from December this year.The cost of Silver Support will nearly double from $330 million today to $620 million in 2021.Also from 2021, the Special Employment Credit (SEC) and the Additional SEC will be merged and called the Senior Employment Credit.Like its predecessors, the new programme gives wage support to employers who hire Singaporeans aged 55 and older, with support tapering as the retirement and re-employment ages are gradually raised.A new Senior Worker Early Adopter Grant will support companies that raise these ages ahead of legislated changes.Another grant will be introduced to support companies to formalise provisions for part-time re-employment.Half the CPF contribution increase from employers, which kicks in next year, will be offset by the Government.The Government also aims to phase out all vehicles with internal combustion engines by 2040.EVs and some hybrid vehicles will also be taxed less, with a revision in tax methodology for cars from next January.By 2030, the Government aims to deploy up to 28,000 public charging points for EVs, up from 1,600 currently.There will also be a lump-sum tax built into the road tax schedule for EVs, while technology to tax by distance is being developed.Read the latest on the Covid-19 situation in Singapore and beyond on our Get The Straits Times app and receive breaking news alerts and more.
Eligible households with five or more members will receive an extra rebate, which means they will receive 2.5 times their usual rebate.Eligible Singaporean households living in HDB flats will also receive rebates to offset between 1.5 and 3.5 months of service and conservancy charges over the year.Companies will receive support to defray wage costs during this difficult period.Two schemes - the new Jobs Support Scheme and the Wage Credit Scheme, which will be enhanced - will help support enterprises and also help workers stay employed as part of a larger $4 billion Stabilisation and Support Package.The Government will offset 8 per cent of Singaporean and permanent resident employees' wages, capped at $3,600 per employee monthly, for three months.This will cost the Government $1.3 billion for the over 1.9 million local employees in Singapore.The monthly wage ceiling will be raised from $4,000 to $5,000 for qualifying wage increases in 2019 and 2020.The co-funding levels will be increased by five percentage points to 20 per cent for 2019 and 15 per cent for 2020.This will see the Government provide about $1.1 billion in support to around 90,000 enterprises which will benefit more than 700,000 Singaporean employees.A corporate income tax rebate at the rate of 25 per cent of tax payable, capped at $15,000 per company, will be granted for the tax year of assessment 2020.The rebate, which will cost the Government about $400 million, will benefit all tax-paying companies.Several tax treatments under the corporate tax system will also be enhanced for one year to ease cash flow for companies.The Enterprise Financing Scheme's Working Capital Loan, which helps small and medium-sized enterprises access financing for working capital needs, will be enhanced for one year from March 2020.The maximum loan quantum will be raised from $300,000 to $600,000, and the Government's risk share will be increased to 80 per cent, up from the current 50 per cent to 70 per cent.Tenants and lessees of government-managed properties can also approach the agencies to discuss options for more flexible rental payments, such as instalment plans.Five sectors directly hit by the coronavirus outbreak - tourism, aviation, retail, food services, and point-to-point transport services - will receive additional support under the Adapt and Grow Initiative for their operating costs and cash flow, as well as to retain and re-skill workers.The funding support duration for re-skilling for these sectors will be extended from the current three months to a maximum of six months, and the Government will support employers in these affected sectors to retain and train more than 330,000 local workers.A 30 per cent property tax rebate for 2020 will be granted for some components of licensed hotels and serviced apartments, as well as prescribed meetings, incentives, conventions, and exhibitions (Mice) venues.International cruise and regional ferry terminals will receive a 15 per cent property tax rebate, and the integrated resorts will receive a 10 per cent property tax rebate.The Government will also work with participating financial institutions to introduce a Temporary Bridging Loan Programme for a year to provide additional cash-flow support for tourism sector enterprises.This includes airlines, companies in the cargo industry, and other airport stakeholders such as retail and food and beverage tenants at Changi Airport, which will also receive a 15 per cent property tax rebate.Food services and retail establishments will receive support as well, with rental waivers for hawkers operating in National Environment Agency-managed hawker centres and markets and commercial tenants of government agencies. No. The criteria for lifetime wages and household monthly income per person will also be raised.There will also be a new payout tier for seniors whose monthly household income per person is between $1,300 and $1,800; they now do not receive Silver Support.Eligible seniors will be notified by CPF Board and start getting payouts from December this year.The cost of Silver Support will nearly double from $330 million today to $620 million in 2021.Also from 2021, the Special Employment Credit (SEC) and the Additional SEC will be merged and called the Senior Employment Credit.Like its predecessors, the new programme gives wage support to employers who hire Singaporeans aged 55 and older, with support tapering as the retirement and re-employment ages are gradually raised.A new Senior Worker Early Adopter Grant will support companies that raise these ages ahead of legislated changes.Another grant will be introduced to support companies to formalise provisions for part-time re-employment.Half the CPF contribution increase from employers, which kicks in next year, will be offset by the Government.The Government also aims to phase out all vehicles with internal combustion engines by 2040.EVs and some hybrid vehicles will also be taxed less, with a revision in tax methodology for cars from next January.By 2030, the Government aims to deploy up to 28,000 public charging points for EVs, up from 1,600 currently.There will also be a lump-sum tax built into the road tax schedule for EVs, while technology to tax by distance is being developed.Read the latest on the Covid-19 situation in Singapore and beyond on our Get The Straits Times app and receive breaking news alerts and more.