The rebate is 30 per cent of tax payable, capped at S30,000 per year.
Taken together, Mr Heng said the measures are appropriate to address the near-term concerns of Singapore firms, especially SMEs, while enabling restructuring.
The Transition Support Package, introduced in FY 2013, will also see its largest payout to date, he said.
But that was when the economy was already in deep recession, and facing huge uncertainty.The SEC will be up to 5 per cent for tax refund advance tampa workers aged 60 to 64 and up to 3 per cent for those aged 55.Singapore - Small and medium-sized enterprises (SMEs) will get more support from the Government as they aim to succeed in a more competitive environment while contending with tighter labour constraints.These include raising corporate income tax rebate from 30 per cent to 50 per cent of tax payable, capped at 20,000 each year for Year of Assessment 20The Special Employment nfm coupon codes april 2015 Credit (SEC which was due to expire this year, will also be modified and extended to the.Mr Heng added that public sector demand for construction projects is expected to increase significantly this year, helping to mitigate a decline in private sector construction demand.Mr Heng said the higher rebate was targeted at SMEs."Some have asked for a repeat of support measures we saw in 2009.We have been experiencing some problems with subscriber log-ins and apologise for the inconvenience caused.The increases are mainly in healthcare, education, security and urban redevelopment.
Thirdly, the Special Employment Credit (SEC which was due to expire this year, will be modified and extended to the end of 2019, with a top-up.1 billion.
Employers with Singaporean workers aged 65 and above will continue to receive a wage offset of up to 8 per cent.
To support viable SMEs that may have cash flow concerns or wish to continue growing their business, an SME Working Capital Loan scheme - with loans of up to 300,000 per company - has been introduced.Several measures were announced to address near-term concerns while encouraging restructuring.This is in addition to the wage offset of 3 per cent for the re-employment of workers aged 65 and above till the re-employment age is raised next year.This will provide employers with a wage offset for workers aged 55 and above who earn up to 4,000 a month.Under this scheme, the Government will co-share 50 per cent of the default risk of these loans with participating financial institutions, to encourage lending to SMEs.Singapore: Companies will get help in coping with higher rental costs, through a special Corporate Income Tax rebate.It's part of the government's Three-Year Transition Support Package to help businesses restructure and is expected to cost the government.3 billion over three years.Mr Heng added that the Government will continue to monitor the situation, and stands ready to act if conditions warrant)."We must not let pessimism take hold, lest it creates self-fulfilling expectations.".
Lastly, in view of challenging business conditions in the marine and process sectors and the reduction in the number of Work Permit holders in these sectors, the Government will defer levy increases for Work Permit holders in these sectors for one year.
He said the rebate will help companies cope during this period of transition.