Grants supporting Self-Employed Persons (SEPs) to combat Covid-19
With Covid-19 (Coronavirus) turning into a global pandemic, the Singapore government has put aside a $48 billion resilience budget to support Singaporeans and businesses in this tough period.
Continue reading to find out more information about the latest grants supporting Self-Employed Persons (SEPs)!
1 - SEP Income Relief Scheme (SIRS) - For individuals
Self-Employed Person Income Relief Scheme will directly provide cash assistance to the self-employed. Those eligible will receive SGD $1000 per month for 9 months.
- Started work as a SEP on/before 25 March 2020
- Do not earn income as an employee
- Earn a Net Trade income of no more than SGD $100,000
- Live in a property with an annual value of no more than SGD $21,000
- Do not own 2 or more properties
Additional criteria for married Singaporean SEPs:
- The individual and spouse together do not own 2 or more properties
- The assessable income of his/her spouse does not exceed SGD $70,000
How to apply
SEPs aged 37 and above in 2020 who declared positive SEP income to IRAS/CPF board for Work Year 2018 do not have to apply. They will automatically be informed about their eligibility via a letter and SMS and will then receive the first SIRS payout automatically in May 2020.
More details regarding the application process will be released soon.
2 - SEP Training Support Scheme - For individuals
Self Employed Persons Training Support Scheme will provide support for them to make use of this period to train upskill. Up to 90% of course fees will be subsidised and also, from 1 May 2020, there will be a training allowance given for SGD $10/hour.
There will also be an automatic deferment of income tax payment for 3 months.
- Self-employed person at the point of the application
- Main income is from self-employment
- You will be required to produce proof, your consolidated statement of income for the year of assessment 2020
How to apply
You will have to add your personal details here and submit your supporting documents for a Letter of Eligibility here. If your application is successful, you will receive the Letter of Eligibility from NTUC’s e2i within 2 working days.
3 - Point-to-Point Support Package - For individuals
The Point-to-Point Support Package is to help taxi and PHC drivers who have been affected by the virus. Eligible full-time taxi and PHC drivers can now receive up to SGD $300 per vehicle per month till the end of September. There will also be additional support provided for taxi and PHC operators and also to defray the operating cost, they will receive a 1-year road tax rebate and a 6-month waiver for parking charges.
- Must be existing main taxi hirers
- Continue driving their taxis or remain in the PHC platform during the period of assistance
How to apply
All eligible drivers will receive relief from their respective taxi companies or PHC operations. Take note that drivers who have received the Special Relief Fund (SRF) will not be eligible for this grant.
4 - Enhanced Workfare Special Payment - For individuals
This grant will provide a cash payout of SGD $3,000 for all eligible Singaporeans, up from the quantum announced previously. They will be paid in 2 installments of SGD $1,500 each in July and October 2020. The enhanced WSP will provide more help for low-wage workers aged 35 and above.
- Singapore Citizen
- 35 years old and above (person with disabilities of all ages will qualify)
- Earn an average gross monthly income of not more than SGD $2,300 in a month
How to apply
If you are employed, you will be automatically assessed based on the CPF contribution from your employer.
If you are self-employed, the Ministry of Manpower (MOM) will assess you in the following year after you declare your income to IRAS or CPFB and make the required MediSave contributions.