Productivity & Innovation Credit (PIC)








All businesses, including sole proprietorships, partnerships, companies, registered branches and subsidiaries of a foreign parent or holding company, are eligible for PIC.

PIC Benefits

Tax Deductions/ Allowances

  • 400% tax deductions/ allowances on up to $400,000 of spending per year in each of the six qualifying activities.
  • PIC+ Scheme
    From YAs 2015 to 2018, qualifying businesses can enjoy 400% tax deductions/allowances on up to $600,000 of qualifying expenditure per year in each of the six qualifying activities.

Cash Payout

  • Option to convert up to $100,000 of total spending in all six activities for each YA into a non-taxable cash payout, in lieu of the tax deduction/allowance.
  • For qualifying expenditure incurred from YA 2013 to 31 July 2016, the cash payout is 60%.
  • For qualifying expenditure incurred on or after 1 August 2016 to YA 2018, the cash payout conversion rate will be at 40%.

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Productivity & Innovation Credit (PIC)

Total

$500.00

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