[Revised to incorporate enhancements made to the Jobs Support Scheme (JSS) as announced in the Fortitude Budget on 26 May 2020]
FRB 6 (Revised), issued on 15 July 2020, provides accounting guidance and key considerations on how to account for payouts receivable by employers under the Jobs Support Scheme (JSS).
FRB 6 (Revised) has been updated from FRB 6 (issued on 7 May 2020) for the following developments:
- Enhancement of the JSS in the Fortitude Budget that was announced on 26 May 2020
- Inclusion of a reminder on IRAS’ JSS website regarding the purpose of the JSS payouts and that employers must act responsibly and fairly during the circuit-breaker period
There is no change to the views and guidance from those shared in FRB 6 as a result of the above developments.
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