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Singapore

More than S$200 million to be disbursed in second Rental Support Scheme payout: IRAS, MOF

SINGAPORE: More than S$200 million will be disbursed under the second Rental Support Scheme payout from Sep 22, the Inland Revenue Authority of Singapore (IRAS) and Ministry of Finance (MOF) said on Friday (Sep 17).

This comes about a month ahead of schedule, to ensure that businesses receive cash flow relief as soon as possible, the authorities said.

The rental relief will be given directly to about 35,800 tenants and owner-occupiers without going through landlords, allowing them to receive the payout promptly.

The second payout was announced in July to support businesses with rental costs during the second Phase 2 (Heightened Alert) from Jul 22 to Aug 18.

It forms part of a S$1.1 billion support package for businesses and workers affected by the COVID-19 restrictions.

A cash payout equivalent to half a month's rent for the period of Jul 22 to Aug 18 will go to small and medium enterprises and eligible non-profit organisations with an annual revenue not exceeding S$100 million, and which are tenants or owner-occupiers of qualifying commercial properties.

The first payout totalling S$216 million was disbursed in August.

Those who submitted an application to IRAS for the first payout need not apply for the second one. They will automatically receive the rental support if they are eligible, said the authorities.

Eligible tenants and owner-occupiers will be notified by post, and can also view an electronic copy of the letter on the myTax Portal from Sep 22.

Those with PayNow or existing GIRO arrangements can expect to receive the rental relief from Sep 22, while those without these payment arrangements will receive cheques by Oct 6.

Businesses that are eligible but do not receive a payout notification should submit an application to IRAS between Sep 29 and Nov 12, said the authorities.

Source: CNA/dv(gr)

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