REVISED PIC SCHEMEThe PIC scheme has benefited many businesses since its introduction in YA 2011 and has been instrumental in kick-starting the productivity drive. As announced in Budget 2016, the PIC scheme will lapse after YA 2018. In addition, the cash payout rate will be reduced from 60% to 40% for qualifying expenditure incurred on or after 1 August 2016. These changes are in line with the Industry Transformation Programme to direct the Government's assistance towards more targeted and sectoral-focused initiatives.
Every business has unique needs, so the solutions we offer each are never alike. At WEB DESIGN, we create professional websites that go beyond the conventional template and are specifically catered to what works best for you.
E - COMMERCE
If you’re looking to expand your retail business online, there’s no better way to take full advantage of the world’s biggest marketplace that is the Internet than with our customised, highly scale-able and feature-rich e-Commerce website.
Our team of designers and developers at Singapore Web Designer recently shot to the forefront of smartphone app development, design & online marketing in Singapore due to the recent smartphone application boom.
SEO helps increase one’s website traffic by making it more search engine and user-friendly. Our team of SEO experts have helped nu- merous clients from various industries increase their site’s search- ability across search engines to improve conversion rates, which lead to increased revenues.
IT RELATED equipment
Technology has advanced to the point that most businesses rely on such equipment for the smooth running of their daily opera- tions. Good IT solutions and equipment can help improve the man- agement of business systems, leading to increased productivity and effectiveness.
WHAT IS PIC GRANTS ?
Under the PIC Scheme, businesses enjoy 400% tax deductions/allowances for qualifying expenditure incurred in any of the Six Qualifying Activities from the Years of Assessment (YAs) 2011 to 2018. The PIC scheme supports investments in Innovation and Productivity. Businesses investing in productivity improvements can now enjoy huge tax savings under the new PIC Grant Scheme.
Eligible businesses can also exercise an irrevocable option to convert qualifying expenditure of up to $100,000 for each YA into cash, at a conversion rate of 60%. For qualifying expenditure incurred from 1 August 2016, the cash payout conversion rate will be 40%.
The PIC Bonus Grant provides up to 400% tax deduction or 60% cash payout to businesses investing in innovative, process automation equipment and facilities. These include software and hardware investments, as well as training and coaching for employees.
“WE manage all aspects of the PIC grant application process. From eligibility and competitiveness assessment, through to completing financial models and developing your business’ case.”
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