{"id":47916,"date":"2020-09-17T13:48:33","date_gmt":"2020-09-17T05:48:33","guid":{"rendered":"https:\/\/linksinternational.com\/?p=47916"},"modified":"2024-06-27T16:20:46","modified_gmt":"2024-06-27T08:20:46","slug":"receive-up-to-30k-sgd-with-singapores-jobs-growth-incentive-jgi","status":"publish","type":"post","link":"https:\/\/linksinternational.com\/en-sg\/blog\/receive-up-to-30k-sgd-with-singapores-jobs-growth-incentive-jgi\/","title":{"rendered":"Receive up to 30K SGD with Singapore\u2019s Jobs Growth Incentive (JGI)"},"content":{"rendered":"\n

Accelerating the Hiring of the Local Workforce <\/strong><\/h2>\n\n\n\n

To support\nthe local economy and its residents, Singapore has launched the Jobs Growth\nIncentive (JGI) to promote the hiring of the local workforce. With the Singaporean\neconomy ravaged by the Covid-19 pandemic and many workers retrenched, the\ngovernment has implemented many schemes and incentives to help the city get\nback on its feet. <\/p>\n\n\n\n

The JGI offers businesses salary support if they increase their local workforce between the period of September 2020 to February 2021. To be eligible for the incentive, businesses must increase the overall local workforce (baseline headcount)<\/strong> and increase the number of local employees earning gross wages of at least SGD$1,400\/month<\/strong>, compared to the August 2020 local workforce. <\/p>\n\n\n\n

(*Note: The JGI has been extended. Phase 2: March 2021 to September 2021\/ Phase 3: October 2021 to March 2022. For more information visit the Government Website<\/a>.)<\/em> <\/p>\n\n\n\n

How Much Will Businesses Receive?<\/strong><\/h2>\n\n\n\n

Eligible businesses\nwill receive 25% support of the first SGD$5000 of gross monthly wages<\/strong>\npaid to all new local hires. If new local hires are above the age of 40 then\nbusinesses will receive 50%<\/strong> support instead of 25%. <\/p>\n\n\n\n

Government\nsupport will last for 12 months<\/strong> starting from the month of hire and must\ncontinually meet the eligibility criteria for the entire payout period for the\nfull 12 months of support. The Jobs Growth Incentive (JGI) payout will be\nadjusted downwards if existing local employees, as of August 2020, leave the\nemployer after August 2020.  <\/p>\n\n\n\n

Eligible employers will receive their JGI payout automatically from March 2021 onwards<\/strong>, which is calculated on a monthly basis based on the employer\u2019s mandatory CPF contributions. Employers do not need to apply; however, some employers may receive review letters<\/strong> from the Inland Revenue Authority of Singapore (IRAS) to further validate their eligibility. <\/p>\n\n\n\n

Certain employers are not eligible for the JGI, including: <\/p>\n\n\n\n