The PIC Bonus gives businesses a dollar-for-dollar matching cash bonus for YAs 2013 to 2015, subject to an overall cap of $15,000 for all 3 YAs combined.
This is given on top of the existing 400% tax deductions or 60% cash payout under the PIC scheme.
Example for PIC Credit Claims
Say you bought your website, 2 notebooks, 2 PCs, ipad, iphone and printer from us at $10,000 and claim for PIC.
IRAS will pay you $10,000 as PIC bonus and $6,000 as PIC Credit. You received total of $16,000!
PIC Qualifying Conditions
The PIC Bonus helps your business to defray costs such as wages and rentals and encourages you to improve in productivity and innovation.
Businesses eligible for the PIC Bonus are sole-proprietorships, partnerships and companies