As part of a third Budget (Solidarity Budget), Deputy Prime Minister Heng Swee Keat announced several enhancements to the earlier announced Self-Employed Person Income Relief Scheme (SIRS).
It will now be automatically extended to include self-employed people who are earning a small income from employment of up to $2,300 and those who live in properties with an annual value of up to $21,000 (increased from the previously announced annual value threshold of $13,000). With these enhancements, approximately 100,000 self-employed people will be eligible for the scheme and will receive three quarterly cash payouts of $3,000 - in May, July and October 2020.
Other criteria, such as the rule that the self-employed person and their spouse combined must not own two or more properties, and that the spouse's assessable income must not exceed $70,000, will remain unchanged.
Do note that those who qualify will be automatically notified and receive their first payout at the end of May 2020. Others may appeal through NTUC.
Check the annual value of your property here!
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