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Totalling over $200 million, the payouts will be disbursed about a month ahead of schedule to ensure “businesses receive cash flow as soon as possible”.
More than 35,800 tenants and owner-occupiers will get their second Rental Support Scheme (RSS) payouts from 22 September, revealed the Inland Revenue Authority of Singapore (IRAS) and Ministry of Finance (MOF) in a joint release.
Totalling over $200 million, the payouts will be disbursed about a month ahead of schedule to ensure “businesses receive cash flow as soon as possible”.
Much like the first RSS payout on 6 August, the rental support will be “provided directly to tenants without going through the landlords”, allowing tenants to promptly receive the payouts from the Government.
The second payout will be equivalent to 0.5 month of rent for the period from 22 July to 18 August.
It is offered to small and medium enterprises (SMEs) and eligible non-profit organisations (NPOs) with an annual revenue of not more than $100 million, which are tenants or owner-occupiers of qualifying commercial properties.
It was announced by MOF on 23 July, in a bid to support businesses with rental costs during the second Phase 2 (Heightened Alert) from 22 July to 18 August.
In total, the two RSS payouts to support businesses’ rental costs amount to over $400 million.
“Eligible tenants and owner-occupiers will be notified by post of their RSS cash payout. They can also log in to myTax Portal from 22 September 2021 to view the electronic copy of their letter,” said IRAS and MOF.
Those without PayNow or existing GIRO arrangements will receive cheques by 6 October.
“Tenants and owner-occupiers who had submitted an application to IRAS for the first payout need not apply for the second payout. They will automatically receive the second payout if they are eligible,” they said.
“SMEs and NPOs that are eligible but do not receive the payout notification should submit an application to IRAS.”
Applications will open on 29 September and close on 12 November.
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Victor Kang, Digital Content Specialist at PropertyGuru, edited this story. To contact him about this story, email: victorkang@propertyguru.com.sg