{"id":1365,"date":"2019-12-11T09:52:36","date_gmt":"2019-12-11T01:52:36","guid":{"rendered":"http:\/\/ehluar.com\/main\/?p=1365"},"modified":"2020-01-19T10:10:28","modified_gmt":"2020-01-19T02:10:28","slug":"the-seventh-tranche-of-wage-credit-scheme-payouts-in-march-2020","status":"publish","type":"post","link":"http:\/\/ehluar.com\/main\/2019\/12\/11\/the-seventh-tranche-of-wage-credit-scheme-payouts-in-march-2020\/","title":{"rendered":"The Seventh Tranche of Wage Credit Scheme Payouts in March 2020"},"content":{"rendered":"\n<p>Employers who are eligible for the Scheme can look forward to the seventh tranche of Wage Credit Scheme (WCS) payouts in March 2020 \u2014 a scheme which seeks to support businesses embarking on transformation  efforts and encourage sharing of productivity gains with workers.<\/p>\n\n\n\n<p>To qualify for the WCS payouts, employers must<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>have given Singaporean employees who earned a gross monthly wage of up to $4,000, a gross monthly wage increase of at least $50 in 2019 and\/or have sustained the gross monthly wage increase (at least $50) previously  given to employees in 2018 and\/or 2017, and<\/li><li>have paid the employees\u2019 mandatory CPF contributions on 2019 wages to the CPF Board by 14 January 2020.<\/li><\/ul>\n\n\n\n<p>The IRAS, in line with Singapore\u2019s Smart Nation efforts will make WCS in  digital payment modes. <\/p>\n\n\n\n<p>All WCS payouts from March 2020 will be credited  directly to the employers\u2019 registered bank accounts through PayNow Corporate or GIRO.<\/p>\n\n\n\n<p>Employers are advised to set up a PayNow Corporate account or register for GIRO early.<\/p>\n\n\n\n<p>The Wage Credit is taxable in the hand of the Employer as the payout is revenue in nature.<\/p>\n\n\n\n<p>For more information, please visit the IRAS website.<\/p>\n\n\n\n<p>Source: IRAS website, 11 December 2019<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Employers who are eligible for the Scheme can look forward to the seventh tranche of Wage Credit Scheme (WCS) payouts in March 2020 \u2014 a scheme which seeks to support businesses embarking on transformation efforts and encourage sharing of productivity gains with workers. To qualify for the WCS payouts, employers must have given Singaporean employees [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","_et_pb_use_builder":"off","_et_pb_old_content":"","_et_gb_content_width":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[18,8,6],"tags":[],"class_list":["post-1365","post","type-post","status-publish","format-standard","hentry","category-employment","category-incometax","category-techupdates"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"http:\/\/ehluar.com\/main\/wp-json\/wp\/v2\/posts\/1365","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/ehluar.com\/main\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/ehluar.com\/main\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/ehluar.com\/main\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/ehluar.com\/main\/wp-json\/wp\/v2\/comments?post=1365"}],"version-history":[{"count":1,"href":"http:\/\/ehluar.com\/main\/wp-json\/wp\/v2\/posts\/1365\/revisions"}],"predecessor-version":[{"id":1366,"href":"http:\/\/ehluar.com\/main\/wp-json\/wp\/v2\/posts\/1365\/revisions\/1366"}],"wp:attachment":[{"href":"http:\/\/ehluar.com\/main\/wp-json\/wp\/v2\/media?parent=1365"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/ehluar.com\/main\/wp-json\/wp\/v2\/categories?post=1365"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/ehluar.com\/main\/wp-json\/wp\/v2\/tags?post=1365"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}