Summary of the Resilience Budget 2020 in Singapore

Dear Reader, welcome to our Resilience Budget 2020 summary. This Supplementary Budget is delivered to help Singapore tide over the unprecedented COVID-19 crisis.

The following government support measures are announced by Minister for Finance, Mr. Heng Swee Keat in Parliament on Thursday, 26 March 2020.

Resilience Budget 2020 Summary

Stabilising Businesses

Helping With Cash Flow & Costs

Stabilising Businesses - Deferment of Income Tax Payments

Deferment of Income Tax Payments

  • Automatically defer income tax payments for 3 months, for companies and self-employed persons (SEPs)
    • Companies: deferment of payments due in April to June 2020
    • SEPs: deferment for payments due in May to July 2020

Stabilising Businesses - Freeze All Government Fees & Charges

Freeze All Government Fees & Charges

  • Freeze all government fees and charges for 1 year, from 1 April 2020 to 31 March 2021

Stabilising Businesses - Enhanced Property Tax Rebate for 2020

Enhanced Property Tax Rebate for 2020

  • 100% rebate for qualifying commercial properties1
  • 60% rebate for the Integrated Resorts
  • 30% rebate for other non-residential properties

1 Includes hotels, serviced apartments, tourist attractions, shops, and restaurants

Stabilising Businesses - Enhanced Rental Waivers

Enhanced Rental Waivers

  • 3 months’ rental waiver for hawkers
  • Up to 2 months’ rental waiver for commercial and other non-residential tenants in government properties

Helping With Credit

Stabilising Businesses - Enterprise Financing Scheme (EFS)

Enterprise Financing Scheme (EFS)

  • Maximum loan quantum of EFS-Trade Loan increased from $5m to $10m and Government’s risk-share raised to 80%
  • Maximum loan quantum of EFS-SME Working Capital Loan increased from $0.6m to $1m

Stabilising Businesses - Loan Insurance Scheme

Loan Insurance Scheme

  • Subsidy for loan insurance premium raised to 80%

Stabilising Businesses - Temporary Bridging Loan Programme

Temporary Bridging Loan Programme

  • Expanded to cover all sectors and maximum supported loan raised from $1m to $5m

Sector-based Support

Stabilising Businesses - Aviation Sector

Aviation Sector

  • Enhanced Jobs Support Scheme for airlines, airport ground handlers, and airport operator with 75% wage offset, up to monthly wage cap of $4,600
  • $350m to provide cost relief for the sector and maintain a minimum level of connectivity

Stabilising Businesses - Tourism Sector

Tourism Sector

  • Enhanced Jobs Support Scheme for hotels, travel agents, tourist attractions, cruise operators, and MICE venue operators with 75% wage offset, up to monthly wage cap of $4,600
  • $90m for tourism recovery

Stabilising Businesses - Land Transport Sector

Land Transport Sector

  • Enhanced Point-to-Point Support Package
    • Special Relief Fund payments of $300 per vehicle per month extended till September 2020
  • Private Bus Owners
    • 1-year road tax rebate and 6-month waiver of parking charges at government-owned parking facilities

Stabilising Businesses - Arts & Culture Sector

Arts & Culture Sector

$55m support package to:

Supporting Workers

Saving Jobs, Supporting Wages

Supporting Workers - Enhanced Jobs Support Scheme (JSS)

Enhanced Jobs Support Scheme (JSS)

  • Government will help employers by paying 25% on the first $4,600 of monthly salaries, up from 8% on the first $3,600 previously
  • JSS will be for 9 months till end-2020, up from 3 months previously

Supporting Workers - Enhanced Wage Credit Scheme (WCS)

Enhanced Wage Credit Scheme (WCS)

Helping Self-Employed Persons (SEPs)

Supporting Workers - Self Employed Persons (SEPs) Income Relief Scheme (SIRS)

Self Employed Persons (SEPs) Income Relief Scheme (SIRS)

  • Eligible Singaporean SEPs will receive $1,000 a month for 9 months

Supporting Workers - SEP Training Support Scheme

SEP Training Support Scheme

  • Extended till end-2020 and set aside $48m for the scheme
  • Enhanced training allowance rate of $10 per hour
  • Sustained support for 200,000 eligible SEPs to make use of downtime to train and upskill

Creating Job Opportunities

Supporting Workers - SGUnited Traineeships

SGUnited Traineeships

  • Co-fund wage costs of companies offering traineeships to first-time jobseekers
  • Support up to 8,000 traineeships in 2020 for fresh graduates of local Autonomous Universities, polytechnics, and ITEs

Supporting Workers - SGUnited Jobs Initiative

SGUnited Jobs Initiative

  • Public sector to accelerate hiring plans, and step up efforts to manage the COVID-19 situation

Helping Workers With Less Means

Supporting Workers - COVID-19 Support Grant

COVID-19 Support Grant

  • Cash grant of $800 a month for 3 months for lower- and middle-income Singaporeans who lose their jobs due to COVID-19
  • Grant will tide them over while they find new jobs or go for training
  • Those who need immediate assistance in April 2020 can apply for the Temporary Relief Fund

Supporting Workers - Enhanced Workfare Special Payment

Enhanced Workfare Special Payment

  • Cash payment of $3,000 for Singaporeans who received Workfare payments in 20191

1 Original payout was an additional 20% of Workfare payments based on work done in 2019, with a minimum payment of $100

Supporting Households – Additional Support For Households

Helping Families With Daily Expenses

Supporting Households - Care & Support - Cash & PAssion Card Top-up

Care & Support – Cash & PAssion Card Top-up

  • Enhanced cash payout for all Singaporeans aged 21 and above in 2020 of $300, $600 or $9001
  • Additional cash payout for each Singaporean parent with at least 1 Singaporean child aged 20 and below in 2020 tripled from $100 to $300
  • All Singaporeans aged 50 and above in 2020 will receive their $100 PAssion Card Top-up in cash

Cash Payouts and PAssion Card Top-up

Assessable Income for Year
of Assessment 2019

S$0 to S$28,000

S$28,001 to
S$100,000

More than
S$100,000, or
owns more
than one
property

For all
Singaporeans
aged 21 and
above in 2020

Original
quantum

S$300

S$200

S$100

Enhanced
quantum

S$900

S$600

S$300

For parents*

Original
quantum

+S$100

Enhanced
quantum

+S$300

For all
Singaporeans
aged 50 and
above in 2020

PAssion Card
top-up to be
provided in cash^

+S$100


* Refers to Singaporean parents with at least one Singaporean child aged 20 years and below in 2020. Each eligible parent will receive an additional S$300
^ The S$100 PAssion Card top-up that was announced at Budget 2020 will be provided in cash instead
1 Original cash payout announced was $100, $200, or $300

Helping Needy Singaporeans

Supporting Households - Enhanced Workfare Special Payment

Enhanced Workfare Special Payment

  • Cash payment of $3,000 for Singaporeans who received Workfare payments in 20191

1 Original payout was an additional 20% of Workfare payments based on work done in 2019, with a minimum payment of $100

Supporting Households - Enhanced Grocery Vouchers

Enhanced Grocery Vouchers

  • Triple current voucher in 2020 to $300 for Singaporeans aged 21 and above living in 1- or 2-room HDB flats
  • $100 Grocery Voucher for 2021
  • Total of $400 in 2020 and 2021

Greater Flexibility On Fees & Loans

Supporting Households - Freeze All Government Fees & Charges

Freeze All Government Fees & Charges

  • Freeze all government fees and charges for 1 year, from 1 April 2020 to 31 March 2021

Supporting Households - Student Loan Relief

Student Loan Relief

  • 1-year suspension of loan repayments and interest charges for Government loan schemes

Supporting Households - Suspend Late Mortgage Payment Charges

Suspend Late Mortgage Payment Charges

  • All late payment charges on HDB mortgage arrears will be suspended for 3 months

More Funding For Community

Supporting Households - More Community Help for Vulnerable Households

More Community Help for Vulnerable Households

  • Self-Help Groups to receive grants of $20m over two years to enhance support for the community
  • Community Development Councils to receive $75m to vulnerable households

Supporting Households - NTUC Care Fund (COVID-19)

NTUC Care Fund (COVID-19)

  • $25m in joint funding from NTUC, Unions, and the Government to help workers and SEPs
  • One-off relief of up to $300 to low- to middle-income union members

Building Resilience

Deepening Capabilities

Building Resilience - Enhanced Support for Enterprises

Enhanced Support for Enterprises

  • SMEs Go Digital enhanced to include more digital solutions for business continuity
  • Up to 90% and 80% support under Enterprise Development Grant (EDG) and Productivity Solutions Grant (PSG), respectively

Building Resilience - Enhanced Training Support

Enhanced Training Support

  • Higher course fee subsidies of 90% and up to $10 hourly absentee payroll
  • Extended to companies in Land Transport, and Arts and Culture sectors

Strengthening Food Security

Building Resilience - A Robust, Multi-Pronged Strategy

A Robust, Multi-pronged Strategy

  • Build up national stockpile of essential health supplies
  • Combination of local production, stockpiling, and diversification of import sources
  • Increase buffer stocks of essential food commodities
  • “30 by 30” vision to grow enough food in Singapore to meet 30% of our nutritional needs by 2030

Keeping Our Society Going

Building Resilience - Broader Range of Safe Distancing Measures

Broader Range of Safe Distancing Measures

  • Help for employers and households implementing mandatory public health measures

Building Resilience - Stepping Up Good Public Hygiene

Stepping Up Good Public Hygiene

  • Boost SG Clean campaign to encourage higher levels of personal and public hygiene
  • Co-funding for businesses undertaking professional cleaning of premises with a confirmed COVID-19 case

Resilience Budget 2020 Summary