This page tells you how your business can enjoy 400% tax deductions/ allowances and/or 60% cash payout for investment in innovation and productivity improvements under the Productivity and Innovation Credit (PIC) scheme. The tax benefits under PIC are available from Years of Assessment (YAs) 2011 to 2015, on investment in any of the six qualifying activities.
From YAs 2013 to 2015, your business may also enjoy a PIC Bonus, a dollar-for-dollar matching cash bonus given on top of the existing 400% tax deductions/ allowances and/or 60% cash payout.
Find out more about the PIC scheme in the table below.
Things to Look Out for When Engaging Consultants to File PIC Claims
The application processes for PIC are simple and straightforward. Most businesses file their PIC claims themselves, but there may be businesses that prefer to engage PIC Consultants to assist them in claiming PIC benefits. Find out what you need to look out for when engaging consultants to file PIC claims.
Register for PIC seminar
Please contact us for assistance or clarification on PIC.
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