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Jobs Credit Scheme

The Singapore Government introduced the Jobs Credit Scheme in the Singapore Budget 2009 to encourage businesses to preserve jobs in the downturn. The $4.5 billion scheme gives companies a cash grant of 12 per cent of an employee's monthly wage, for up to $2,500. This grant is applicable for Singaporeans and permanent residents on their payroll. With the cash grant, the Singapore Government assists businesses to pay part of the employee's monthly wage with the aim of cutting cost to save jobs.

 

Employers can find out more of the Jobs Credit Scheme at http://www.iras.gov.sg/irashome/jobscredit.aspx.