There will be no revisions to the Government cash grant
Until the notices of cash grant are issued, the Act provides for a moratorium on enforcement actions against eligible tenant-occupiers for non-payment of rent. 1. landlord’s entitlement to rental waivers is solely dependent on the
Yes, the payment of MCST fees (i.e. Begin searching for your cash grants today. Be a U.S. Citizen or non-citizen eligible under Title IV regulations. If the property tax account comprises more than 1 property unit, property owners can list the details of the rented property units in the Rental Details Form. This is a default position - while landlords and tenants are free to come to a mutual agreement which best takes into account their specific circumstances, failing an agreement, the landlord must waive the rent for those months stated in the notice. This means that as an eligible tenant-occupier you do not need to pay rent for those months. An intermediary landlord will be required to provide a full waiver to their tenant according to the applicable rental relief period. From
the tenancy period. As long as the end tenant occupying the
My landlord (the property owner) has not passed on any Property Tax Rebate for Year 2020 to me as a tenant of a prescribed property. Gross income, in the context of the eligibility criteria for the Additional Rental Relief under Regulation 14 of the COVID-19 (Temporary Measures) (Rental and Related Measures) Regulations 2020, means total revenue minus direct costs (but before indirect costs like overheads and taxes). As agencies
2. Tenants (including licensees), who meet the eligibility criteria, would qualify under the Rental Relief Framework if they are paying rent (including licence fee) to occupy a prescribed property for the sole purpose of carrying on a business or a purpose incidental to that business. Please refer to Regulation 4 of the COVID-19 (Temporary Measures) (Rental and Related Measures) Regulations 2020 for details. Not be in default of any federal or state Student Loans for attendance at any institution or owe a refund for any previous financial aid received. Today, many companies are continuing to search for new ways to both motivate and compensate its employees without using cash. No. The only requirement is that the company has not more than S$100 million in annual revenue for the Financial Year 2018 or a later appropriate period where applicable, at the entity level. If you are an SME / specified NPO (as defined under the Rental Relief Framework) property owner who runs a trade or business on the prescribed property ("owner-occupier"), you will also be eligible for the Government cash grant. Unit A was let to Tenant A for the entire relief period. For any other case, the tenant-occupier’s average monthly revenue from the time the tenant-occupier commenced business until 31 March 2020 (both dates inclusive) will be extrapolated for comparison against the $100 million annual revenue threshold. person or via registered post or email. For further assistance on application matters, you may call the Registry during office hours at 1800-2255-772 (1800-CALL-RRA). Where the sum of the Property Tax Rebate for Year 2020 and Government cash grant is not equal to the Rental Relief of 2 months for qualifying commercial properties or 1 month for other non-residential properties, do property owners have to provide rental waiver for the 2 or 1 month(s) based on the contractual rent (excluding maintenance fees and service charges)or based on the amount of Property Tax Rebate and Government cash grant received? The Property Tax Rebate and Government cash grant are accorded in consideration of both the approved and actual use of the property. Scenario 3: Owner A rents the shop to an eligible tenant below market at $1,000 per month (excluding maintenance fees and service charges) during the relief period 1 April to 31 July 2020. landlord (i.e. Do I need to return the cash grant to IRAS? payments due under the lease agreement, these can be offset from the landlords’
It confirmed that businesses below the £51,000 threshold will receive access to the cash grant, but those above the threshold will not be able to apply. Example: Owner A has a qualifying commercial property (e.g. tenant-occupiers that do not meet the criteria for the rental relief, i.e. of business to 24 March 2020 (both dates inclusive) to ascertain the decrease
If the property was occupied by non-eligible tenant-occupier(s) for the entire relief period, the Government cash grant would be recovered. If the tenant-occupier has not carried on business for 12 months or longer as at the last day of the its financial year ending on a date in 2018, but has carried on business for 12 months or longer as at the last day of its financial year ending on a date in the year 2019, the reference period will be FY2019 instead. Generally,
longer as at the last day of the its financial year ending on a date in 2018,
properties where the occupiers (including owner(s) and/or tenant(s), as the
If the eligible tenant-occupier rents the property through an intermediary landlord, all intermediary landlords along the chain will also receive rental waivers in respect of that eligible tenant-occupier for the corresponding period from their immediate landlords, regardless of whether the
The cash grant project was designed to provide a one-off grant to the poorest and most vulnerable women in rural and peri-urban areas of the country. early August 2020, IRAS issued a notice of cash grant and disbursed the Government cash grant to qualifying property owners. The definition of a Type A property can be found in Part 2 of the First Schedule of the Regulations. threshold. I am a tenant of a prescribed property. of cash grant will specify the mode and expected date of the payout. $4,700 x 2 for Additional Rental Relief) = $18,800. For example, in cases
However, tenants have to continue paying maintenance
of 35% or more. Owner A is required to provide rental waivers amount to $4,800 x 2 = $9,600. Eligible SMEs and NPOs who are tenant-occupiers will benefit from the Rental Relief Framework as summarised in the table below: 1 The rental waivers in the table are applicable in cases where the tenant-occupier occupies the property throughout the relief period. However, the rental waived will exclude any maintenance fees and charges (and any GST payable on these charges) for the provision of services such as cleaning and security, which will still be payable to the landlord. business for 12 months or longer as at the last day of its financial year
or whose properties are wholly let out to SME tenant-occupiers with qualifying
Case example: Owner A rents a retail shop to Tenant A, at $5,500 per month. the property owner receives the notice of cash grant, the applicable rental and
The previous and new owners should come to a mutual agreement on how best to distribute the monies received from the Government in the form of the Property Tax Rebate for Year 2020 and the Government cash grant, given the variance in individual circumstances and terms of the sale and purchase transaction. 3. The majority of qualifying
not in force for the entire relief period. Where a property (with an eligible end-tenant occupier) has been sublet, the lessor (i.e. Generally, the Property Tax Rebate has to be passed on by 31 July 2020 and 31 December 2020. Copyright © 2021 Information Services Inc. All rights reserved. The owner or the landlord can request, by written notice, the tenant-occupier to provide relevant information within 5 working days of the request to prove their eligibility for the Rental Relief and/or Additional Rental Relief. landlord (except for property owner), it will be capped at rent paid by the
If the property transfer was completed prior to the notice issuance, the notice will be sent to the new owner. iii. Where the landlord and tenant are unable to agree on the amount of rental waiver, can they apply to the rental relief assessors? He already passed on $3,000 of the rebate to Tenant A in July 2020. signage area, data centre, self-storage facility) eligible for rental waivers under the Rental Relief Framework? The Property Tax Rebate and Government cash grant are not intended to cover the full amount of rental waivers exactly. For enquiries on the Government
Singapore.4 Where none or only
If the eligible tenant-occupier rents the property through an intermediary landlord, all intermediary landlords along the chain will also receive rental waivers in respect of that eligible tenant-occupier for the corresponding period from their immediate landlords, regardless of whether the intermediary landlords meet the eligibility criteria. Is GST applicable for the rent that is waived? Property Tax Rebate for Non-Residential Properties in 2020. Once the notice is received by the new owner, the rental of the eligible tenant will be treated as waived. The monetary amount of the grant that you can receive will range from $500 to $50,000. Make certain that you meet all of the criteria to apply for the grant. The grant must be replicated again from some other source to aid in the household with the essentials that it needs to look after. Please visit IRAS website for more information on Property Tax Rebate for Non-Residential Properties in 2020. payments or reduction of payments due under the lease agreement, these can be
1. As announced in the Fortitude Budget, qualifying property owners will receive support via a Government cash grant and they must in turn provide the necessary rental relief to their eligible SME and NPO tenant-occupiers of the prescribed properties under the Rental Relief Framework. the Rental Relief Framework. Please see
Apr 2020 (e.g. date in the year 2018, and more than one member of the same group has carried
Only applications with valid reasons for delay will be accepted on a case-by-case basis. inclusive) will be extrapolated for comparison against the $100 million annual
Generally, landlords may offset the rental waivers against any financial assistance previously provided to their tenants, such as: Please note that the property owner is still required to provide any remaining rental waiver after taking into account any offsetting as detailed above. which is partially-occupied by the SME owner and partially-let to SME and non-SME tenant-occupiers. The owner is required to provide the rental waiver for the relevant period (up to 4 months from Apr-Jul 2020 for qualifying commercial properties (e.g. 20 examples: So the idea of choice by cash grant has many advantages in that way. In computing gross income, all income derived by the company/NPO, including trade income and separate sources of income, should be taken into account. Generally, the application will be processed within 2
There is no GST applicable on the rent that is waived. Scenario 2: Owner A rents the shop to an eligible tenant at $4,800 per month (excluding maintenance fees and service charges) during the relief period 1 April to 31 May 2020. It will offer a cash grant of either £10,000 or £25,000 per property to businesses in retail, hospitality and leisure. 2. Yes, individuals who operate their business in the rented property and meet the eligibility criteria will be entitled to the rental waivers under the Rental Relief Framework. $8,800, Government cash grant for the tenancy chain ending with ST1 + 0.8 month
shops): For other non-residential properties (e.g. 2. From early August 2020, IRAS issued a notice of cash grant and disbursed the Government cash grant to qualifying property owners (i.e. Small businesses praise $25,000 cash grant for public servants. state the amount of cash grant and the rental waiver obligations for landlords. For
Businesses with a rateable value of under £15,000 will get £10,000 Businesses with a rateable value of between £ Since he has already passed on the Property Tax Rebate of $3,000 to Tenant A in July 2020, he now needs to waive a further amount of $4,700 x 4 - $3,000 = $15,800. Each individual grant specifies which businesses are eligible to win it. The majority of owners should receive the notice by mid-August 2020. Owner A is required to waive rent for 2 months (i.e. To start your application for a free grant package go to: Share this article with your friends and colleagues! Rishi Sunak gives businesses cash injection of £4.6bn - but will furlough be extended? the property owner and all intermediary landlords) are required
ST1 will be computed by applying a pro-ration factor (rent of ST1 as a fraction
instead. Cash Assistance DSS COVID-19 FAQs ... Special Grant Document Guide . If rent has already been paid, tenants can either apply the rental waivers to the next immediate month(s) of rent, or if this is not possible, get a refund from their landlords. What should property owners do if the Government assistance (Property Tax Rebate for Year 2020 and Government cash grant) is not equal to the Rental Relief that the tenant is entitled to? Owner A can retain the full cash grant amount of $4,000. Where
However, the work is well worth the effort that you put into the application. Is there a requirement for a company to have (i) at least 30% local shareholding; or (ii) a group employment size of not more than 200 employees to be considered an eligible SME under the Rental Relief Framework? The Cash Grant Program is a complementary program to the Need-Based Tuition Waiver Program. Tenant A still has to pay maintenance and service fees as they are not waived. This is because the intent of the Rental Relief Framework is to provide relief from the payment of rent, which forms a significant part of business costs. intermediary landlords meet the eligibility criteria. This would include Government grants, if any. Thus, the total amount may not be equivalent to the rental waiver to be provided by property owners based on the contractual rent (excluding maintenance fees and service charges). , self-storage facility ) eligible for rental waivers if their tenant is proven ineligible financial. 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