What is the SIRS scheme
The Self-Employed Person Relief Scheme (SIRS) is part of the Resilience Budget to help small business and self-employed people. The scheme will disburse 3 cash payout of $3000 each, in May, July and October 2020 to those who qualified.
Self-Employed Person Income Relief Scheme (SIRS) is open for application since Monday 27 April 2020.
Many self-employed people have tried to apply but encountered difficulties. The site experienced high traffic volume on day 1. It was eventually shut down for upgrading works to better cope with the traffic.
How to Apply for SIRS
Application for SIRS scheme can be done online with your Singpass. It can be completed within 10 minutes or it can take forever.
Not everyone needs to apply for SIRS scheme as they can auto qualify if they meet the criteria. Check if you auto qualify.
Before you start, remember to read this to save yourself from frustration.
The key to finishing it within 10 minutes is preparing ALL the information and documents upfront. If any of the information or documents is missing, you will not be able to submit your application or your application will be rejected. A fresh application will be required.
There is no save draft option so you have to fill it up and upload all the documents in one go.
You will also need your SingPass.
Information that you need to prepare
There are some information that you need to research before you apply.
- The annual value of the property you live in. Go to IRAS mytax portal and check
- Self-employed since when (Mm/YY)
- Bank Account Number
- Your property portfolio including residential and commercial
- No. of Singaporean Parents aged 65 and above
- No, of Singaporean Children below age 21
- Annual income in 2018 as declared to IRAS (Trade Income)
- Annual income in 2018 as declared to IRAS (Employment)
- Annual income in 2019 as declared to IRAS (Trade Income)
- Annual income in 2019 as declared to IRAS (Employment)
You need to provide your IRAS Notice of Assessment (NOA)/ or consolidated statement Form B for Work Year 2018 and Work Year 2019. If you have not filed your taxes, you should go file it first before continuing.
If you are married
- Marriage Date. Ask your spouse
- Spouse name as in NRIC
- Spouse NRIC number
- Spouse annual income in 2019 and supporting documents (Form B/B1 (YA2020) or Notice of Assessment (YA2020) or IRAS Form 144 Acknowledgment. Only page that shows your spouse’s name, and income for 2019 is needed)
- Spouse Income in 2020 Jan – Mar and supporting documents (payslips, invoices, contracts etc that clearly show some of the income earned in 2020.)
At Section 7 of the application, there is an optional section to describe the financial hardship. It is optional and you do not have to fill in unless you prefer to. You can also upload supporting documents (optional) to show your financial hardship. Some of the documents you can consider uploading are medical bills, utility bill and anything that is a financial burden.
Before you start, get ready all the information and documents required to save yourself time and frustration.