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     FrontPage Edition: Fri 29 June 2007

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Application period for SME rebate scheme starts



From 01 July 2007 - 31 July 2008, Small and Medium Enterprises (SMEs) that meet the eligibility criteria of the SME Rebate Scheme can apply for the rebates online at
The SME Rebate Scheme was announced by the Government in Budget 2007 as a 2-year assistance scheme to help locally registered SMEs cope with the increase in employer CPF contribution rate of 1.5% that will take effect from 01 July 2007.
The rebates will be granted to locally-registered businesses that have:
  Fixed Asset Investment (FAI) of less than S$15 million, and
  Not more than 200 employees (for non-manufacturing firms)
Each eligible firm will receive rebates pegged to the total employer and employee CPF contributions paid by the firm over 2 years (01 July 2007 C 30 June 2009).
1st Year (01 July 2007 C 30 June 2008)

Total CPF paid in 1st Year

Quantum of rebate

First $40,000

2% of  CPF paid (up to the maximum of $800)

Next $40,000

1% of CPF paid (up to the maximum of $400)

2nd Year (01 July 2008 C 30 June 2009)

Total CPF paid in  2nd Year

Quantum of rebate

First $40,000

1% of CPF paid (up to the maximum of $400)

Next $40,000

0.5% of CPF paid (up to the maximum of $200)

Details on the scheme are available on the SME Rebate Scheme Website at For further enquiries, please email or call 1800-2222-888.
Ministry of Finance
29 June 2007

Source: Media Release 29 Jun 2007

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