2nd round of Rental Support Scheme payouts for owners, tenants to start Sept 22
SINGAPORE- More than 35,800 tenants and owner-occupiers will receive their second Rental Support Scheme (RSS) payouts from Sept 22.
In a joint statement on Friday (Sept 17), the Inland Revenue Authority of Singapore (Iras) and the Ministry of Finance (MOF) said the payouts, totalling more than $200 million, will be disbursed ahead of schedule by about a month.
This is to ensure that businesses receive cash flow relief as soon as possible.
The statement said: “As with the first RSS payout disbursed on Aug 6, the rental support will be provided directly to tenants without going through the landlords. This payout mechanism has allowed tenants to receive the RSS payouts from the Government promptly.”
The rental relief is offered to small and medium-sized enterprises (SMEs) and eligible non-profit organisations with an annual revenue not exceeding $100 million, which are tenants or owner-occupiers of qualifying commercial properties.
The second RSS payout was announced on July 23 by MOF, in a move to support businesses with rental costs during the second phase two (heightened alert) from July 22 to Aug 18.
This second payout will be equivalent to half a month of rent for the period from July 22 to Aug 18.
In total, the two RSS payouts support businesses’ rental costs to the tune of over $400 million.
Those eligible will be notified by post of their RSS cash payout. Alternatively, they can also log into myTax Portal from Sept 22 to view the electronic copy of their letter.
Those without PayNow or existing Giro arrangements will receive cheques by Oct 6.
Those who are eligible but do not receive the payout notification should submit an application to Iras. Applications will open on Sept 29 and close on Nov 12.
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