Overcoming The Crisis
For self-employed persons
    • Support for self-employed persons
    • $3,000 cash payout each in May, July and October 2020
    • Criteria broadened to benefit more self-employed persons
    • $10/hour training allowance, on top of subsidies that cover up to 90% of course fees
    • Applications closed on 31 December 2020
COVID-19 Recovery Grant
    • Up to $700 a month for three months, for lower- to middle-income employees and self-employed persons (SEPs) who are financially impacted by COVID-19
    • Applications open from 18 January 2021
Support for training
  • Opportunities for individuals
    • One-off $500 SkillsFuture Credit top-up for adult Singaporeans
    • Check out the available courses
    • Get your career advice here
  • Hiring incentive for employers who hire local workers, who had gone through reskilling or training programmes (replaced by Jobs Growth Incentive from 1 Sep 2020)
    • 20% of monthly salary support for 6 months, capped at $6,000 in total, when hiring workers under aged 40
    • 40% of monthly salary support for 6 months, capped at $12,000 in total, when hiring workers aged 40 and above
  • Support for enterprises to develop workers
    • $10,000 SkillsFuture Enterprise Credit per enterprise to help upskill and reskill workforce
    • Productivity Solutions Grant to help enterprises with job redesign
Saving jobs and livelihoods
Lower costs for businesses
  • Jobs Growth Incentive
    • $1 billion programme to support firms that will increase headcount of local workers from September 2020 to February 2021
    • For each new local hire, employers will receive wage subsidy for 12 months
    • Up to 25% wage subsidy for new hires below 40 years old, and
    • Up to 50% for those aged 40 and above, both subject to cap
  • Extension of Jobs Support Scheme
    • Employers to receive wage support of 10% - 50% offset for first $4,600 of monthly wage for all local workers, up till March 2021
    • Support based on projected recovery of the different sectors
    • Eligible Shareholder-Directors will also benefit
  • Property tax deferment
    • Deferment of income tax payments for 3 months until June 2020
    • Property Tax Rebate of 30% to 100% for businesses in commercial and non-residential properties (eligibility period ended in December 2020)
  • Rental waivers
    • COVID-19 (Temporary Measures) Act allowing individuals and businesses to defer contractual obligations such as paying rent, repaying loans and completing work, for a period
    • Up to 2 months’ rental offset for SME tenants in commercial, industrial, and office properties in June and July 2020
    • Up to 5 months’ rental waiver for Government tenants in 2020, such as hawker centre and market stallholders
  • SME Centre Business Advisors
    • Consult SME Centres’ Business Advisors for support measures and group-based upgrading projects
Encourage entrepreneurship and business growth
    • Up to $150 million enhancement to Startup SG Founder programme to raise startup capital grant and provide mentorship
    • Enterprise Leadership for Transformation programme to support business leaders of promising SMEs in developing business growth plans
Support for digitalisation
    • $300 per month over five months to encourage stallholders to adopt e-payment methods (both existing and new sign-ups by 31 December 2020)
    • $5,000 payout for businesses that digitalise basic payment and invoicing such as Corporate PayNow
    • Additional $5,000 payout for F&B and retail businesses that adopt advanced digital solutions (for food services and retail enterprises that are incorporated on or before 26 May 2020)
    • $250m set aside to help businesses digitalise with platform solution providers
    • E-commerce and Food Delivery Booster Packages supported more than 10,000 food services and retail businesses in adopting digital solutions
Ease businesses’ cash flow
    • Help with loan insurance payments
    • Corporate income tax deferred
    • Planned increase in CPF contribution rates for senior workers deferred to 2022
    • Up to 2 months’ extension of Foreign Worker Levy waiver and rebate for businesses that cannot resume on-site operations
Improve businesses’ access to credit
    • Enhanced financing schemes such as Temporary Bridging Loan Programme and Enterprise Financing Scheme available until March 2021
    • Defer payment on principal of loans
    • $585m financing support for start-ups in growth sectors

Stay updated on Budget 2021 at the Singapore Budget website