With the COVID-19 pandemic taking at least a year to be resolved and longer economic repercussions, how does it impact those who are self-employed especially during the circuit breaker period?
If you are a self-employed person (SEP) whose livelihood has been affected, the enhancements of the Self-Employed Person Income Relief Scheme (SIRS) are good news.
The Ministry of Manpower (MOM) previously announced on 26 March that around 88,000 people will benefit from the SIRS. According to the original announcement, each self-employed person will receive S$1,000 a month for nine months.
During the Solidarity Budget announcement on 5 April, modifications were made to the SIRS. Specifically, a total of about 100,000 self-employed persons will automatically be eligible for the scheme. Instead of monthly payments, they can now expect three quarterly payments of S$3,000 each. These payments are scheduled on May, July, and October.
What are the Enhancements to the SIRS?
- Extended automatically to include SEP who also earn a small income from employment work.
- The current Annual Value threshold from $13,000 will be raised to $21,000 in order to include those who live in condominiums and other private properties.
If you are thinking of buying, selling, or renting property while the circuit breaker measures are in effect, don’t worry! Our team is still hard at work.
Learn more about Ohmyhome services during the circuit breaker period.