More than 100,000 employers to receive $890 million
Tue, Sep 22, 2009
AsiaOne
More than 100,000 employers, with whom about 1.4 million local workers are employed, will receive $890 million from the third payment of Jobs Credit on September 30, 2009.
Eligible employers will receive a letter of notification from the Inland Revenue Authority of Singapore (IRAS) by Thursday, September 24. This letter will inform them of the amount of Jobs Credit they will receive for the third payment.
Employers do not need to sign-up, as eligible employers will automatically be granted the Jobs Credit. This includes those who did not qualify during the first two installments.
The amount will be automatically computed for eligible employers and directly credited into employers’ bank accounts or paid via cheque.
The fourth payment for the Jobs Credit will be made in December 2009. ill be computed based on employees on the CPF payroll for the month of October 2009. Employers who have not done so must make their CPF contributions for July to September 2009 by November 14, for these employees on their October CPF payrolls, in order to qualify for the fourth payment of Jobs Credit.
The government will announce whether the Jobs Credit scheme will be extended, and in what form, by mid-October 2009.
“As stated in the 2009 Budget Speech, the Government would review whether it is necessary to extend the Jobs Credit Scheme depending on the state of economy. The review is currently ongoing, taking into account all factors including the latest economic and employment outlook for the coming year,” said the Ministry of Finance in an official statement.
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