Final Payment of Jobs Credit on 30 June 2010
Eligible employers will receive a notification letter by 26 June 2010 from IRAS. The letter will inform them of the amount of Jobs Credit they will receive in the second extended payment.
The final payment of Jobs Credit to be made in June 2010 will be computed based on employees on the CPF payroll for the month of April 2010. Employers who have made their CPF contributions for January 2010 to April 2010 by 14 May 2010 will qualify for the final Jobs Credit payment.
The Jobs Credit Scheme will cease after the final payment in June 2010. If you have any enquiry or request for review of the Jobs Credit payment, please email to jobscredit@iras.gov.sg before 31 August 2010.
About Jobs Credit Scheme
The scheme was introduced in the Singapore Budget 2009 to encourage businesses to preserve jobs in the downturn. Businesses will receive a cash grant based on the CPF contributions they have made for their existing employees. It provides a significant incentive for businesses to retain existing workers, and where their business warrants, to employ new ones.
Under the scheme, an employer will receive a 12% cash grant on the first $2,500 of each month’s wages for each employee on the CPF payroll in 4 payments: March, June, September and December 2009.
In Oct 2009, the Government announced that the Jobs Credit scheme will be extended for half a year with another 2 payments at stepped-down rates in March and June 2010 as follows:
| Jobs Credit payment |
Jobs Credit amount |
Payment date |
Qualifying period of wages |
Deadline for CPF contributions |
1st Extended Payment
|
6% of wages
|
31 March 2010
|
October to December 2009, for employees on January 2010 payroll
|
17 February 2010
|
2nd Extended Payment
|
3% of wages
|
30 June 2010
|
January to March 2010,for employees on April 2010 payroll
|
14 May 2010
|
The amount of Jobs Credit an employer can receive for each of the payment depends on two factors:
1) The number of employees (Singaporeans and Permanent Residents) on the employer’s CPF payroll for the months of January, April, July, October 2009, January and April 2010; and
2) The wage cost of these employees, derived from the CPF contributions made for them in the preceding quarter (known as the Qualifying Period).
The Jobs Credit is computed based on the employer's CPF contribution data, which will be provided by CPF Board to IRAS.
View illustrations on computing the Jobs Credit payment
Eligibility
Businesses in operation that have made Central Provident Fund (CPF) contributions for their employees (Singaporeans and Permanent Residents only), with the exception of local and foreign government organisations, will be eligible for the Jobs Credit.
The Jobs Credit is automatically granted to eligible employers. They do not need to apply for it.
Qualifying periods and payment dates
The qualifying periods for each payment and the corresponding payment dates are as follows:
| Qualifying period of wages to compute Jobs Credit |
Deadline by which employers need to make CPF contributions in order to receive Jobs Credit |
Jobs Credit payment date |
| October to December 2008 |
14 February 2009 (Extended to 15 April 2009), for employees on January 2009 payroll |
31 March 2009
(30 June 2009) |
| January to March 2009 |
14 May 2009, for employees on April 2009 payroll |
30 June 2009 |
| April to June 2009 |
14 August 2009, for employees on July 2009 payroll |
30 September 2009 |
| July to September 2009 |
14 November 2009, for employees on October 2009 payroll |
31 December 2009 |
| October to December 2009 |
17 February 2010, for employees on January 2010 payroll |
31 March 2010 |
| January to March 2010 |
14 May 2010, for employees on April 2010 payroll |
30 June 2010 |
Unclaimed Jobs Credit Payment
If you have not received any of the Jobs Credit payments and your business entity is listed in Unclaimed Jobs Credit Payment (1.5 MB), please email your correspondence address and contact number to jobscredit@iras.gov.sg before 31 August 2010 so that the payment can be made to you.
Jobs Credit Payment Calculator
Use the Business Benefits Calculator to compute the Jobs Credit payment.
Contact us
Please contact us if you need assistance or clarification on Jobs Credit:
- Email us at jobscredit@iras.gov.sg
- Call us on 1800 356 4055* (8am-5pm from Mondays to Fridays, 8am-1pm on Saturdays)
* Ceasing operations from 1 October 2010