Over 38,400 tenants, owner-occupiers to receive $216mil in rent support

Eligible tenants and owner-occupiers “with PayNow or existing GIRO arrangements with IRAS can expect to receive the RSS cash payouts” from 6 August, while those without will receive cheques by 20 August.

Over 38,400 tenants and owner-occupiers will directly receive their first Rental Support Scheme (RSS) payouts from the government, without going through the landlords, from Friday (6 August).

In a joint statement issued on Thursday (5 August), the Inland Revenue Authority of Singapore (IRAS) and Ministry of Finance (MOF) said that the first round of payouts – totalling over $216 million – comes two weeks ahead of schedule.

“The new payout mechanism allows tenants to receive rental cash payment from the Government promptly and reduces compliance burden for landlords.”

They noted that eligible tenants and owner-occupiers “with PayNow or existing GIRO arrangements with IRAS can expect to receive the RSS cash payouts” from 6 August, while those without will receive cheques by 20 August.

Small and medium enterprises (SMEs) as well as eligible non-profit organisations with an annual revenue of not more than $100 million, and are owner-occupiers or tenants of qualifying commercial properties, will get a payout equivalent to 0.5 month’s rent for the 14 to 29 May period.

In view of the tightened safe management measures following the return to Phase 2 (Heightened Alert) from 22 July to 18 August, there will be a second RSS cash payout, which will comprise an additional 0.5 month’s rent for qualifying owner-occupiers and tenants of privately-owned commercial properties.

The second payout will be disbursed in October, with MOF providing an update closer to the second RSS disbursement.

IRAS and MOF said eligible owner-occupiers and tenants will be notified of their RSS cash payout by post. They can also view the letter’s electronic copy by logging in to myTax Portal from 6 August.

“The cash payout will not be disbursed automatically to tenants who only rent part of a property, tenants who rent a mixed-use property (e.g. a shophouse for both retail and residential use), or to licensees,” they added.

Those who do not receive the payout notification can apply to IRAS from 16 August.

Source: CommercialGuru, 6 August 2021