About 88,000 to automatically benefit from Self-Employed Person Income Relief Scheme
The Ministry of Manpower will introduce a Self-Employed Person (SEP) Income Relief Scheme (SIRS) to support eligible SEPs with less means, and tide them over this period of economic uncertainty.
2 Under the scheme, eligible SEPs will receive three quarterly cash payouts of $3,000 each in May, July and October 2020.
3 About 50,000 SEPs currently receive Workfare payouts annually, and will be eligible for SIRS. Due to the extraordinary circumstances brought about by the COVID-19 pandemic, we have broadened the eligibility criteria beyond Workfare to enable more SEPs to qualify for SIRS. As a result, SIRS is expected to automatically benefit about 88,000 SEPs.
4 Singaporean SEPs who meet all of the following criteria are eligible for SIRS:
- Started work as an SEP on or before 25 March 2020;
- Do not also earn income as an employee;
- Earn a Net Trade Income of no more than $100,000;
- Live in a property with an annual value of no more than $13,000; and
- Do not own two or more properties.
5 For married Singaporean SEPs, the following additional criteria apply:
- The individual and spouse together do not own two or more properties; and
- The Assessable Income of his/her spouse does not exceed $70,000.
Automatic payments for most eligible SEPs
6 Singaporean SEPs aged 37 and over in 2020 who declared positive SEP income to the Inland Revenue Authority of Singapore (IRAS) / CPF Board (CPFB) 1 for Work Year 2018 do not need to apply. They will be automatically notified of their eligibility via letter and SMS, and will receive the first SIRS payout automatically in May 2020.
7 Other eligible SEPs may apply for SIRS. More details on SIRS and the application process will be released at a later date.