To help affected SMEs and specified non-profit organisations (NPOs) recover from the impact of Covid-19, the Singapore government introduced a Rental Relief Framework for SMEs & NPOs. Under the Framework, eligible SMEs and NPOs would receive up to two months of rental relief and up to two months of additional rental relief.
FRB 7 contains:
- A background of the Framework to aid in the understanding of the amount of rental reliefs that the tenant is entitled to receive and the landlord is required to bear;
- Accounting guidance and key considerations on how to account for the rental reliefs from the perspective of the landlord and the tenant.
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