HIGHLIGHTS

OCTOBER 2020

  • Over $5.5 billion to be disbursed from 29 Oct under the Jobs Support Scheme

SEPTEMBER 2020

  • Overview of Withholding Tax
  • Common Errors Made by S45 WHT Payers
  • Minimum 4% Interest Rate Floor on Special, MediSave and Retirement Account Monies Extended Until 31 December 2021
  • Year End Forms (Year of Assessment 2021)
  • Tightening of Work Pass Requirements
  • Public Holidays for 2021
  • Eligible Firms to Receive Jobs Growth Incentive Automatically from March 2021
  • Jobs Growth Incentive (JGI)

AUGUST 2020

  • Deferral of Requirements for Insurers Under the Work Injury Compensation Act 2019

JULY 2020

  • Income Tax Treatment of COVID-19-Related Payouts to Businesses and Individuals
  • Over $4 billion to be disbursed from 29 Jul under the Jobs Support Scheme

JUNE 2020

  • Support for Employees
  • Enhanced Job Support Scheme
  • Over $450 Million in Wage Credits for more than 95,000 Employers by 30 June 2020

MAY 2020

  • No Statutory Updates

APRIL 2020

  • IRAS Extends Tax Filing Deadlines
  • Support for Employees
  • Job Support Scheme (JSS)
  • Solidarity Budget
  • Update on Job Support Scheme (JSS)
  • Update on Solidarity Budget
  • Extended Tax Filing Deadline

MARCH 2020

  • MOM will be increasing the LQS threshold to $1,400
  • All work pass holders have to obtain MOM’s approval before commencing their journey
  • MOM will be increasing the EP salary to $3,900 per month
  • Retirement age and Re-employment Age will be raised to 65 and 70 by 2030
  • The CPF contribution rates for senior workers will be raised gradually over the next decade

FEBRUARY 2020

  • Quarantine Order Allowance Scheme in Singapore

JANUARY 2020

  • No Statutory Updates