How is the Singapore Government Helping Singapore During Covid-19?
With the outbreak of the Covid-19 globally, Singapore is experiencing its second wave of imported cases and unlinked cases within our community. This worrying trend has forced many businesses to close and workers to experience a loss in income or even their jobs.
The Singapore government has came up with several relief funds and grants to help affected Singaporeans tide through this period of uncertainty. Here are some of the schemes to help our community:
Source: The Straits Times
1. Covid-19 Support Grant
This cash grant is meant for low to middle-income Singaporeans who have lost their jobs due to the Covid-19. They will receive a cash grant of $800 per month for 3 months. Applicants must be Singapore Citizens or PR above the age of 16, have a household income of not more than $10,000, or per capita household income not more than $3,100 per month prior to unemployment. They must also be living in a property with an annual value below $21,000 and not currently receiving ComCare Short-To-Medium Term Assistance (SMTA) or ComCare Interim Assistance. Applicants must also be agreeable to undergo training programs with Workforce Singapore or the Employment and Employability Institute.
2. Temporary Relief Fund
This fund is meant for individuals who have experienced a reduction in salary and they will receive a one-time cash payment of $500 to tide through this period. Applicants must be Singapore Citizens or PR and have lost their jobs or faced a loss in income of at least 30%. They must also have a household income of $10,000 and below, or per capita household income of $3,100 and below and must not be receiving ComCare assistance.
3. SEP Income Relief Scheme (SIRS)
This scheme is meant for eligible self-employed persons (SEPs). They will receive 3 quarterly cash payouts of $3,000 each in May, July and October 2020. This scheme is estimated to benefit about 88,000 SEPs who are eligible. Applicants must have started work as an SEP on or before 25th of March 2020 and do not earn income as an employee. They must earn a Net Trade Income of no more than $100,000 and live in a property with an annual value of $13,000 or less. Applicants must not own two or more properties together with their spouse if they are married, and their spouse should not have an Assessable Income exceeding $70,000.
Despite these schemes in place to help affected individuals, the Singapore government is committed to reaching out to help more people who are affected and more schemes will be announced in the subsequent days to help us tide over this period of uncertainty.
