In the blog post today we have an update for you on the Job Support Scheme (JSS), previously mentioned in our blog post on 14 September. This post summarises the key points from an IRAS media release, dated 19 October.
The JSS was introduced by the Singapore Government to help you retain your workforce by subsidising your employees’ wages. For the first month of the scheme in May, all eligible employers received 75% wage support for their employees wages. For the remaining months that JSS is operational, the amount of support you receive depends on the sector that your company operates.
|Sector||Wage Support Percentage|
|Aviation, Tourism and Built Environment||75%|
|Food Services, Retail, Arts and Entertainment, Land Transport and Marine & Offshore||50%|
|All Other Sectors||25%|
The JSS scheme will continue to operate up to March 2021, with payments being made to employers for set groups of months. This equates to 17 months of wage support for your business if you qualify!
JSS payments for the months of June, July and August are due to start from 29 October 2020.
N.B. For all the payout dates, see this IRAS Web Page.
How to Receive Earlier Payouts
If you currently have a GIRO or PayNow Corporate arrangement with IRAS you can expect to receive payment from 29 October. If you don’t currently use either of these arrangements, instead IRAS will send you a cheque which you can expect to receive from 4 November onwards.
As a result, you are more likely to be paid sooner if you adopt either GIRO or PayNow Corporate. Due to this, IRAS is encouraging employers to sign up for PayNow Corporate. If you have done this by 23 October 2020, you should receive the earlier and direct JSS payments through your new account.
You can sign up for PayNow Corporate by linking your UEN / NRIC / FIN to your bank account via internet banking. If unsure how to do this, you should reach out to your bank
Review of the JSS
The amount of JSS that you receive for each of your employees is calculated from your CPF contributions for each of your employees. Therefore, it is important that you continue to correctly report and pay your CPF contributions.
As part of their checks on JSS eligibility and compliance, IRAS is sending a small number of employers self review letters to complete. If you are selected, you must conduct a self review of your CPF contributions and provide declarations and / or documents to prove your eligibility to partake in the JSS. The abovementioned October 2020 payouts will be withheld from you until you have submitted your self assessment and had it reviewed by IRAS.
SME Go Digital
As stated in our last blog post, we are looking into registering SimplePay as an SME Go Digital pre-approved vendor. Part of this process includes receiving satisfaction surveys from yourselves, our amazing clients!
By helping us become approved, you will in turn open the door to various Government grants and bonuses that could help develop your business. It’s a win-win!
If you joined us between 6 and 18 months ago, we need your help! To assist us by completing the short survey, please get in contact with us at [email protected].
We hope that this information has proved useful to you. If you have any questions on how the information above relates to SimplePay, please feel free to contact us at [email protected].
Equally, if you are not yet a client of SimplePay but would like to be, or if you’d like to know how we can take the effort out of filing and calculating payroll, get in contact with us or visit our website: www.simplepay.com.sg.
Keep well and stay safe.