Grants supporting businesses 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 businesses!

1 - Enhanced Property Tax Rebate for 2020 - For companies

Property Tax Rebate will be granted to owners of qualifying commercial properties (hotels, serviced apartments, tourist attractions, shops, and restaurants), to help them with the cost pressure during this period. With this enhancement, owners will now be granted rebates of up to 100% of their property tax payable from 1 January – 31 December 2020.

Criteria

100% rebate for: 

  • Hotel room or function room of a registered hotel under the Hotels Act
  • Serviced apartment or serviced apartment function room 
  • Premises of prescribed Meetings,  MICE venues
  • Premises of a prescribed international cruise or regional ferry terminal 
  • Shops and restaurants
  • Premises of tourist attractions 

60% rebate for: 

  • Marina Bay Sands
  • Resort World Sentosa

30% rebate for: 

  • Premises used whether wholly or partly for an excluded purpose 
  • The part of a carpark in the same building as premises mentioned above that corresponds to those premises 
  • Any other premises in the same building as premises mentioned in the first point that is used or intended to be used for/or in connection with the operation or enjoyment of those premises
  • All non-residential properties 
How to apply

IRAS will send out the rebate notices by 31 May 2020 to those qualifying owners. Qualifying owners can expect to receive their refunds by 30 June 2020.

2 - Enhanced Rental Waivers - For individuals

Stall owners at hawker centres and markets will now be applicable to the Enhanced Rental Waivers. The enhanced waivers will now be increased from 1 month to 3 months.

Criteria and application
  • All stallholders in hawker centres managed by NEA or NEA-appointed operators (includes both in the cooked food and market section of the centre)
  • Up to 2 months retail waiver for commercial and other non-residential tenants in the government properties
  • Enhanced Jobs Support Scheme will also be for food and beverage firms, with a total of 50% wage offset (capped at monthly of SGD $4,600).

For more information regarding these waivers, you can contact NEA.

3 - Cash Flow Support - For companies

During this period, the government will support those who are facing cash flow challenges, with the following support: 

  • Expanded Temporary Bridging Loan Programme to all sectors and the maximum support loan extended to SGD $5 million
  • Increased maximum loan quantum to SGD $1 million under the Enterprise Financing Scheme – SME Working Capital Loan
  • Increased maximum loan quantum to SGD $10 million and Government risk-share to 80% under Enterprise Financing Scheme – Trade Loan
  • Increased subsidies for loan insurance premiums to 80% under the Loan Insurance Scheme 
Criteria

For Temporary Bridging Loan program: 

  • A business entity that is registered and physically is in Singapore
  • At least 30% local equity held directly or indirectly by Singaporean or a PR

For SME Working Capital Loan: 

  • A business entity that is registered and physically is in Singapore
  • At least 30% local equity held directly or indirectly by Singaporean or a PR
  • Maximum Borrower Group revenue cap od SGD $500 million for all enterprises
  • SME definition refers to Group revenue of up to SGD $1 million or a maximum of 200 employees 

For Trade Loan: 

  • Be registered and operating in Singapore
  • Have a minimum of 30% local shareholding 
  • Maximum Borrower Group revenue cap of SGD $500 million for all enterprises 

For the Loan Insurance Scheme (LIS):

  • A business entity that is registered and physically is in Singapore
  • At least 30% local equity held directly or indirectly by Singaporean or a PR
  • Group revenue of up to SGD $100 million or maximum employment of 200 employees
How to apply

You can click here to find out more information regarding the application process. 

4 - Support for Capability Development - For companies

The Capability Development Grant focuses on supporting the exposure to learning in diverse areas of functions and practices within the arts field. This grant can be used for workshops, masterclasses, seminars, conferences, residencies, and other professional training programs. 

  • The support level for Productivity Solutions Grants and Enterprise Development Grant has been raised to 80% and 90% respectively, till the end of 2020
  • Enhanced SMEs Go Digital to avoid physical meetups 
  • Extended enhanced training support to more sections – higher course fee subsidies and payroll support till the end of the year
Criteria

For Productivity Solution Grants:

  • Registered and operating in Singapore
  • Purchase/lease/subscription of the IT solutions must be used in Singapore
  • Have a minimum of 30% local shareholding (for selected solutions only)

For Enterprise Development Grant:

  • Registered and operating in Singapore
  • Have a minimum of 30% local shareholding
  • Be in a financially feasible position to start and complete the project
How to apply

For Productivity Solution Grants:

  • Visit Tech Depot and access the list of supportable solutions to identify the solution that suits you best 
  • For IT solutions: Get a quotation from the pre-approved vendor 
  • For equipment: Source for the equipment and get a quotation directly from the vendor 
  • Submit an application on the Business Grants Portal

For Enterprise Development Grant: 

Take note that applications will be assessed by Enterprise Singapore. Find out more information regarding the application process here.

5 - Resilience Building - For companies

The SG Together Enhancing Enterprise Resilience (STEER) program will support funds set up by the TACs or industry groupings, aiming to help businesses who have suffered during this period. Under this program, Enterprise Singapore will match SGD $1 for every SGD $2 raised by such initiatives, up to SGD $1 million per fund.  

Funding support for specialised cleaning under SG clean has also been introduced.

Criteria and application

For the criteria and application process for the STEER program, contact Enterprise Singapore.

6 - Advanced Aviation Support Package - For companies

With a minimum level of air connectivity as airlines continue to ground flights, via the Enhanced Jobs Scheme explained above, the government will pay 75% of the first SGD $4,600 of a local employee’s monthly pay (in the aviation sector). 

Airlines will also get the following benefits: 

  • 10% landing charge rebate for all scheduled passenger flights landing in Singapore (From April to end of October 2020)
  • 50% rebate on rental for airlines loungers and offices within Changi Airport (From April to end of October 2020)
  • 100% rebate on parking charges at Changi Airport (from August – October 2020)
Criteria

All employers who have made CPF contributions for their Singaporean or PR employees will qualify for the payout except those who are on this list.

How to apply

Employers do not have to apply for this scheme. The grant that they receive will be computed based on the Central Provident Fund (CPF) contribution data. Employers will receive the payouts in 3 instalments: May, July and October 2020.

Did this answer your question?