To further support Singapore businesses and workers during the COVID-19 outbreak, the Government has unveiled a Resilience Budget on 26 March 2020 - on top of the Stabilisation and Support Package introduced at Budget 2020 in February.
As part of the Resilience Budget, tourism businesses will receive the following to help them cope with the serious economic effects of COVID-19.
1. SUPPORTING BUSINESS COSTS
- [Enhanced] Job Support Scheme (JSS)
Qualifying groups will receive enhanced support under the Jobs Support Scheme to cover 75% of gross monthly wages, per Singapore Citizen/Permanent Resident employee, up to a monthly wage cap of $4,600:
a) Licensed hotels
b) Licensed travel agents
c) Gated tourist attractions
d) Cruise lines and cruise terminal operators
e) Purpose-built MICE venue operators
- [Enhanced] Property tax rebates
Qualifying commercial properties, including hotels, serviced apartments, tourist attractions, prescribed MICE venues, and international cruise and regional ferry terminals, will enjoy a property tax rebate of 100%.
- [Enhanced] Rental waivers
Commercial tenants who qualified for the 0.5-month waiver announced at Budget 2020 will now get a 2-month rental waiver in total (i.e. 1.5 months more). Other non-residential tenants will be provided a 0.5-month rental waiver.
- [Expanded] Temporary Bridging Loan
The Temporary Bridging Loan will be expanded to enterprises in all sectors, including F&B, retail, land transport, arts, entertainment and recreation, and maximum loan increased from $1 million to $5 million. Enterprises may request for deferment of principal repayment for a year, subject to assessment by PFIs.
For more information on the above measures, contact us at STB_Feedback@stb.gov.sg.
2. SUPPORTING TRAINING
- [Enhanced] Training Industry Professionals in Tourism (TIP-iT)
The Training Industry Professionals in Tourism (TIP-iT) grant supports tourism companies in employee upgrading and talent and leadership development.
In February 2020, STB enhanced support under TIP-iT for certified courses and course development for tourism-related skill sets by increasing the maximum support levels to 90% for course fees and trainer fees, for courses that commence between 1 March 2020 and 31 May 2020 (both dates inclusive).
These enhancements will now be extended to also include courses that commence between 1 June 2020 and 31 December 2020 (both dates inclusive).
The enhanced TIP-iT will cover up to 90% of course fees and 90% of basic hourly salary for absentee payroll, capped at $10 per hour for qualifying applicants. To qualify, the business/company must be registered in Singapore.
The enhanced TIP-iT will cover up to 90% of trainer fees for course development and customisation, and 90% of basic hourly salary for absentee payroll of participants in the course developed under TIP-iT, capped at $10 per hour for qualifying applicants. To qualify, the business/company must be registered in Singapore.
3. OTHER ENHANCED GRANTS UNDER TOURISM DEVELOPMENT FUND (TDF)
To help the tourism sector in building capabilities and ensuring a healthy pipeline of events, products and experiences at an appropriate time, other tourism grants under Tourism Development Fund (TDF) have been enhanced, in addition to TIP-iT.
The maximum support level for qualifying costs will be increased by 10 percentage points for the following grants:
- Business Improvement Fund (BIF)
- Local Enterprise and Association Development Programme1 (LEAD)
- Business Events in Singapore (BEiS)
- Leisure Events Fund (LEF)
- Kickstart Fund (KF)
- Experience Step-up Fund (ESF)
- Cruise Development Fund (CDF)
AT A GLANCE
1 Only for eligible Trade Associations and Chambers in the tourism industry