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Resilience Budget: Who Qualifies for $9,000, and Who Decided The Criteria?!
By Sethisfy  •  March 28, 2020

The Self-employed Income Relief Scheme (SIRS for short) is perhaps the most generous initiatve announced by DPM Heng Swee Keat for the Resilience Budget. Its generiosity is only matched by its puzzling eligbility criteria.

Who qualifies? Self-employed people who currently receive Workfare payouts annually

Additionally, people who don’t get Workfare, but meet the following requirements will qualify as well:

Started work as an SEP on or before 25 March 2020;Do not also earn income as an employee;Earn a Net Trade Income of no more than $100,000;Live in a property with an annual value of no more than $13,000; andDo not own two or more properties.

If you’re married, the following prerequisties also apply:

The individual and spouse together do not own two or more properties; andThe Assessable Income of his/her spouse does not exceed $70,000.How is it paid out?

There will be 3 payments of $3,000 in May, July and October.

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By Sethisfy
As an adult, I’ve been through many ups and downs in my career path and personal finance journey, not unlike many Singaporeans. From my years as a tied insurance agent turned independent financial adviser, I realised that there are very few sources of proper, unbiased financial advice for working adults to access. Worse, self-styled “financial consultants” are selling products like savings plans and ILPs to the detriment of the clients whose interests they were supposed to serve.
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