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web designUnder the Productivity and Innovation Credit (PIC) scheme, your business can enjoy:

60% cash payout

Eligible businesses can apply to convert up to $100,000 of their total expenditure for each YA in all six qualifying activities into a non-taxable cash payout. The cash payout rate is 60% of qualifying expenditure incurred.

The cash payout option is to support small and growing businesses, which may be cash-constrained, and encourage them to innovate and improve productivity.

400% tax deductions/ allowances

As announced in Budget 2014, from YAs 2015 to 2018, qualifying businesses can enjoy 400% tax deductions/allowances on up to $600,000 (instead of $400,000 as mentioned above) of their expenditure per year in each of the six qualifying activities under the PIC+ scheme.