According to DPM Heng Swee Keat, the wage subsidies under the Job Support Scheme (JSS) will be further extended by up to 7 months.
In his speech earlier today (17 Aug), those businesses that were badly affected by the COVID-19 pandemic will be receiving the wage subsidies up to Mar 2021. As for those businesses that are managing better will receive the wage subsidies up to Dec 2020.
The amount of support provided will depend on the projected recovery of the different industry. It will range from 10 to 50 per cent to assist the business owner to retain Singaporean workers.
However, Mr Heng did mention that it is not sustainable for Singapore heavily draw on the country reserves at the current level.
How the new extension works:
The subsidies will be valid for the first $4,600 of gross monthly salary paid out to Singaporean or PR employees.
Percentage of subsidies received by different industries:
- Aerospace, Aviation and Tourism – 50 % from Sep 2020 – Mar 2021
- Built Environment – 50 % from Sep 2020 – Oct 2020 and 30 % from Nov 2020 – Mar 2021
- Entertainment, Food, Transport, Marine and offshore, and Retail – 30 % from Sep 2020 – Mar 2021
- Biomedical Sciences, Engineering, Electronics, Financial, Infocomm technology and media, online retail and supermarkets – 10 % from Sep 2020 – Mar 2021
- All others – 10 % from Sep 2020 – Mar 2021