In Budget 2013, Deputy Prime Minister and Minister for Finance, Mr Tharman Shanmugaratnam, announced several tax measures to help businesses cope with rising costs and encourage investments in productivity and innovation activities.
This seminar is specially designed to help participants understand how businesses may benefit from the enhancements to the PIC scheme and key Budget 2013 changes.
The PIC scheme provides tax benefits for businesses that invest in productivity and innovation activities. Businesses can enjoy deductions/allowances at 400% of the expenditure or receive up to $60,000 of cash payout. PIC benefits apply from Years of Assessment (YAs) 2011 to 2015.
Businesses can also enjoy the PIC Bonus from YAs 2013 to 2015 when they invest a minimum of $5,000 per YA on PIC qualifying expenditure. The PIC Bonus is a dollar-for-dollar matching cash bonus given to businesses, capped at $15,000 for all 3 YAs combined.
Productivity and Innovation Credit (PIC)
Budget 2013 Highlights
Registration is on a first come first served basis. Due to limited seats and to allow more businesses to benefit from the seminar, each company is allowed up to two participants.