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IRAS PIC Changes Budget 2014

PIC Scheme

– The Productivity and Innovation Credit (PIC) scheme will be extended for three years till Year of Assessment 2018.

PIC cash payout

With effect from Year of Assessment 2016, businesses applying for PIC cash payout will have to meet the three-local-employees condition for a consecutive period of at least three months prior to claiming the cash payout.

The expenditure cap for PIC cash payout will remain at $100,000 of qualifying expenditure per year of assessment.

Cash payout (non-taxable) at 60% of cost – cost up to $100,000


Pic Claim Grant Site is purely for educational purpose, for full details on PIC Claim, please refer to IRAS PIC site and get the most up to date Pic Claim Grant details.

Pic Claim Grant provides general answer to pic question on pic bonus, pic claim, pic grant.

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