Singapore is paying out the first tranche of the payments under the Wage Credit Scheme (WCS) by 31 March 2014. Around 75 percent of the payments are due to small and medium enterprises (SMEs). The payments are intended to help new businesses and low income taxpayers.
Employers are eligible for the WCS if persons employed by them for at least three months in the year are given a pay increase, if those persons received Central Provident Fund (CPF) contributions for a period of three months or more in the previous year. Employees eligible for the WCS receive the payment automatically on the basis of their previous CPF contributions without the need to apply.
