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Singapore

Rental support scheme payouts to be disbursed from Aug 6: MOF, IRAS

SINGAPORE: A total of S$216 million in Rental Support Scheme payouts will be disbursed from Friday (Aug 6), two weeks ahead of schedule, the Ministry of Finance (MOF) and the Inland Revenue Authority of Singapore (IRAS) said.

More than 38,400 tenants and owner-occupiers will receive the payouts, which will be given to them directly without going through the landlords for the first time.

“The new payout mechanism allows tenants to receive rental cash payment from the Government promptly and reduces compliance burden for landlords,” MOF and IRAS said in a news release on Thursday.

The agencies added that those who are eligible will be notified of their cash payout by post. An electronic copy will also be available for viewing on their myTax portal from Friday.

Eligible tenants and owner-occupiers with PayNow or existing GIRO arrangements with IRAS can expect to receive the cash payouts from Friday, while those without will receive cheques by Aug 20.

The Rental Support Scheme was announced on May 28 to support businesses with rental costs, “as part of a package of support measures to help businesses tide over restrictions under Phase 2 (Heightened Alert)” from May 16 to Jun 13.

Small and medium enterprises (SMEs) and eligible non-profit organisations with an annual revenue not exceeding S$100 million will receive a cash payout equivalent to half their monthly rent for the May 14 to 29 period in the first payout.

They must also be tenants or owner-occupiers of qualifying commercial properties.

“The cash payout will not be disbursed automatically to tenants who only rent part of a property, tenants who rent a mixed-use property (e.g. a shophouse for both retail and residential use), or to licensees,” MOH and IRAS said.

It added that eligible tenants and owner-occupiers who do not receive a notification should submit their application to IRAS from Aug 16.

A separate second cash payout, announced on Jul 23, will give another half a month’s rent to eligible recipients “in view of the tightened safe management measures after returning to Phase 2 (Heightened Alert) from Jul 22 to Aug 18”, MOF and IRAS said.

It will be disbursed in October, they added.

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Source: CNA/ga

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