What is PIC Grant
PIC Grant is a grant given by IRAS called Productivity and Innovation Credit (PIC) which encourage companies to invest in innovation and productivity. You will receive 60% cash back. Upon purchasing of PIC allowed equipment you will be given cash pay out up to 60%.
The maximum amount of equipment purchased under the PIC cash pay-out per year is $100,000. Instead of cash paid out, you can choose to have 400% tax deduction per year.
|Qualifying PIC Expenditure||$6,000|
|PIC Cash Pay out||$3,600 ($6,000 x 60%)|
|Total PIC Benefits||$3,600|
- Company registered in Singapore.
- Staff of 3 Singaporeans or Permanent Residents with CPF contributions.
- Spend minimum $5,000 per year purchase of PIC allowed equipment.
Amano finger print and Proximity Readers.
Our Amano finger print and Proximity Readers are PIC eligible.