FROM July 1, small and medium-sized enterprises (SMEs) in Singapore can apply for labour cost rebates.
This is under a government scheme to help these firms ease into a 1.5 percentage point hike in the Central Provident Fund (CPF) employer contribution rate.
Locally-registered manufacturing firms with fixed asset investments of less than $15 million are eligible for the rebate.
Non-manufacturing firms will have to fulfil an extra requirement of having 200 employees or fewer.
The scheme, unveiled in this year's Budget, is aimed at SMEs to help them adjust to higher costs stemming from the CPF rate increase, which will also take effect on July 1.
As announced earlier, the rebate is 2 per cent of the first $40,000 of total CPF contribution and 1 per cent of the next $40,000 in the first year from July 1, and 1 per cent and 0.5 per cent respectively for the second year.
Firms have to submit an online form to declare that they qualify for the rebate.
The application form will be available from July 1 this year to July 31, 2009, at this website - www.sme rebate.gov.sg.
More information on the rebate scheme is also available from the website from today, as well as via phone inquiries at 1800-222-2888 or by sending an e-mail to smerebate@cpf.gov.sg
