Productivity and Innovation Credit (PIC Grant) Singapore
A piece of wonderful news for business owners!
IRAS (Inland Revenue Authority of Singapore) has announced that not only will companies enjoy 400% tax deductions/allowances and/or 60% cash payout under the PIC (Productivity and Innovation Credit) scheme, your business can also receive a PIC Bonus (dollar-to-dollar matching cash bonus) up till YA2015!
What does this mean? It means your business can now claim back more than what you invest for innovation and productivity!
Training of employees is one of the qualifying activities covered under PIC – and all courses conducted by WebSprout Academy are 100% claimable! Let’s take a look at a simple example to understand how your business can benefit from this scheme.
Company A spends $6,000 on a SEO training programme conducted by WebSprout Academy.
Under the PIC (cash payout option), IRAS will pay to Company A :
- A PIC Bonus of $6,000 (dollar-to-dollar matching cash bonus), PLUS -
- A PIC Cash Payout of $3,600 (60% of expenditure on productivity activity)
So Company A will get back a total of $9,600 in cash for investing just $6,000 in productivity!
2014 is the last year for businesses to enjoy the PIC Bonus (dollar-to-dollar
How Can You Leverage This Golden Opportunity?
Interested in investing in training to boost your company’s productivity?
Head over to the links below to find out about the training programs available for your businesses (all are claimable for PIC)!
- Public workshops (on WordPress, eCommerce, Search Engine Optimization and WordPress Security)
- You can also get in touch with us for customized trainings in the area of WordPress, Search Engine Optimization, Google Analytics or computer productivity programs through this contact form.
Wishing all business owners an awesome year of productivity ahead!
More useful links on PIC :
- Details of the PIC scheme
- What else you can claim under PIC
- What are the qualifying conditions to be eligible for PIC?