Singapore Rolls Out S$470 million in Third Rental Support Scheme

Businesses in Singapore will be receiving more than S$470 million ($345 million) worth of rental relief under the third batch of the city-state’s Rental Support Scheme (RSS) payout starting Nov. 26.

Singapore’s Ministry of Finance (MOF) said on Monday that over 40,000 tenants and owner-occupiers will receive their handouts without going through landlords. Those who have received support from the second set of RSS payouts will automatically receive the third payout.

The third payout will cover one month’s rent incurred under Singapore’s Stabilization Phase from Sep. 27 to Nov. 21 for small businesses and eligible nonprofits with an annual revenue not exceeding S$100 million ($73.4 million).

Singapore’s extended set of COVID-19 restrictions capped social gatherings and dining-in to groups of two, largely affecting the hospitality and arts sector.

All three payouts under RSS, disbursed after lockdown periods, add up to more than S$900 million ($661 million) of rental aid, according to MOF.

Taxi and hired car drivers will also receive an additional S$16 million ($11.8 million) in aid under an extended COVID-19 Driver Relief Fund. 

The fund grants S$10 ($7) per vehicle a day for 30 days in November, and the December package will be increased from S$5 ($4) to S$10 a day for 31 days. Initially set to end after December, the extended tranche will grant S$5 a day for 31 days on January 2022.

© Fourth Estate® — All Rights Reserved.
This material may not be published, broadcast, rewritten or redistributed.