What is the Jobs Growth Incentive (JGI)?
There’s a new job incentive from the government that aims to help employers and employees during this trying times. On this blog, we will discuss how this incentive works, who are qualified and how to apply for it.
MOM has streamlined the guidelines for the Jobs Growth Incentive (JGI) scheme to the eligible companies that can expand their recruitment requirements. Employers that increase their overall local workforce between September 2020 to February 2021 (inclusive) will receive Government support.
How to get this incentive? Let's start by tackling what is JGI?
JGI will provide one year of salary support for each new local hire by employers that managed to increase their local workforce from September 2020 to February 2021 (inclusive). This is open to the local workforce - Singaporeans and PRs.
Who is Eligible for JGI?
Employers who have to meet their mandatory CPF contributions and achieved the following increases in their local workforce between September 2020 and February 2021 (inclusive), compared to their August 2020 local workforce must comply to the following conditions:
Increase in the overall local workforce
Increase in local employees earning gross wages of at least S$1,400 per month
How to apply for JGI?
Employers no need to file any application for the JGI. IRAS will notify eligible employers by post of the amount of JGI payout payable to them. They can also log in to myTax Portal to view the electronic copy of their letter.
To calculate employers' eligibility for JGI you may use this JGI calculator.