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Source: www.mof.gov.sg |
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COMMENCEMENT OF APPLICATION
PERIOD FOR SME REBATE SCHEME |
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From 01 July 2007 - 31 July 2008, Small and Medium Enterprises (SMEs)
that meet the eligibility criteria of the SME Rebate Scheme can apply
for the rebates online at
http://www.smerebate.gov.sg. |
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The SME Rebate Scheme was announced by the Government in Budget 2007 as
a 2-year assistance scheme to help locally registered SMEs cope with the
increase in employer CPF contribution rate of 1.5% that will take effect
from 01 July 2007. |
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The rebates will be granted to locally-registered businesses that have: |
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· Fixed Asset Investment (FAI) of less than S$15 million, and |
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· Not more than 200 employees (for non-manufacturing firms) |
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Each eligible firm will receive rebates pegged to the total employer and
employee CPF contributions paid by the firm over 2 years (01 July 2007 –
30 June 2009). |
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1st Year (01 July 2007 – 30 June 2008) |
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Total CPF paid in 1st Year |
Quantum of rebate |
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First
$40,000 |
2% of
CPF paid (up to the maximum of $800) |
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Next
$40,000 |
1% of
CPF paid (up to the maximum of $400) |
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2nd Year (01 July 2008 – 30 June 2009) |
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Total CPF paid in 2nd Year |
Quantum of rebate |
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First
$40,000 |
1% of
CPF paid (up to the maximum of $400) |
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Next
$40,000 |
0.5%
of CPF paid (up to the maximum of $200) |
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Details on the scheme are available on the
SME Rebate Scheme Website at
http://www.smerebate.gov.sg. For further enquiries, please email
smerebate@cpf.gov.sg or call 1800-2222-888. |
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Ministry of Finance |
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29 June 2007 |
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Source: www.mof.gov.sg
Media Release 29 Jun 2007 |
Application period for SME rebate
scheme starts
