Receive cash grants for local employees on your CPF payroll.

Jobs Credit Scheme is extended till 30 June 2010. Find out more about the changes.

For who?

• All Singapore-registered companies, sole-proprietors, partnerships and voluntary welfare organisation (VWO) that have made Central Provident Fund (CPF) contributions for their Singapore Citizen and Permanent Resident employees.

For what?

• To encourage businesses to retain jobs during the economic downturn.
  
  
• The scheme is extended till 30 June 2010 on stepped-down rates, even though the economy is recovering,  to help businesses who may have difficulties in adjusting if the Jobs Credit is withdrawn completely.

How much?

• You will receive a 12% cash grant on the first S$2,500 of each month’s wages for each employee on your CPF payroll in 2009.
  
  
• For 31 March 2010 payment, you will receive a 6% cash grant on the first S$2,500 of each month’s wages for each employee on your CPF payroll.
  
  
• For 30 June 2010 payment, you will receive a 3% cash grant on the first S$2,500 of each month’s wages for each employee on your CPF payroll.
  
  
• The amount of Jobs Credit you can receive is pegged to:
  
  
  • number of employees on the employer’s CPF payroll, AND
  • wage cost (i.e. CPF contribution made to) of these employees during the Qualifying Period
    
    
• It will be issued in 4 payments during 2009 – 31 March 2009, 30 June 2009, 30 September 2009 and 31 December 2009. 2 payments will be made during 2010 – 31 March 2010 and 30 June 2010.
  
  

  Jobs Credit Payment Date	Qualifying Period of Wages to Compute
  31 March 2009	October 2008 – December 2008
  30 June 2009	January 2009 – March 2009
  30 September 2009	April 2009 – June 2009
  31 December 2009	July 2009 – September 2009
  31 March 2010	October 2009 – December 2009
  30 June 2010	January 2010 – March 2010

  
  

  See:	• Examples on calculating the Jobs Credit payment • Use Business Benefits Calculator to compute your Jobs Credit (EXCEL)

How to apply?

• You do not need to apply for the Jobs Credit Scheme. It is granted automatically to eligible employers.

Things to note

• Jobs Credit Scheme was announced during the Singapore Budget 2009 to encourage employers to retain employees.
  
  
• There are 6 deadlines where you need to make CPF contributions to qualify:
  
  

  Jobs Credit Payment Date	Deadline to Make CPF Contribution
  31 March 2009	14 February 2009, on employees’ January 2009 salary (extended to 15 April 2009)
  30 June 2009	14 May 2009, on employees’ April 2009 salary
  30 September 2009	14 August 2009, on employees’ July 2009 salary
  31 December 2009	14 November 2009, on employees’ October 2009 salary
  31 March 2010	14 February 2010, on employees’ January 2010 salary
  30 June 2010	14 May 2010, on employees’ April 2010 salary

  
  
• The Inland Revenue Authority of Singapore (IRAS) will send a letter to inform all eligible employers of the Jobs Credit payment for that quarter.
  
  
• Employers who have made their CPF contribution on time but did not receive the letter from IRAS should email to IRAS at jobscredit@iras.gov.sg.

Changes from 13 October 2009 – 30 June 2010

For more info

Jobs Credit Scheme
Inland Revenue Authority of Singapore (IRAS)

Local Toll-Free: 1800 356 4055
International: (65) 6356 4055
Email: jobscredit@iras.gov.sg