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6 Mar 2014

Get $36K Cash Under PIC Internal Training

As we know, PIC (Productivity and Innovation Credit) scheme from Government also funds businesses that train their own staff internally, i.e. do not engage outside training vendors and use their own staff to train their own people.  You can claim this under Line 4(b) in the PIC Cash Payout Form "In-house training not certified by WDA or ITE".

Businesses can claim the salary cost of the trainer, not the trainees.  For example, if the HR Department incurs 20 hours every 3 months to do staff induction and staff training, they can claim the 20 hours of salary of the HR department trainers.

The maximum a business can claim for Internal Training is $10,000 a year.  Since Cash claim is at 60%, businesses can get $6,000 a year or $36,000 for 6 years from 2012 to 2017.  This $10,000 must be within the overall yearly $100,000 cap for PIC Claims.  Businesses that claim PIC more than $5,000 in a year can receive the PIC Bonus automatically, which is another 100% of the amount claimed, subject to a cap of $15,000.  The PIC Bonus will expire in 2014.

The 7 most commonly claimed internal training include:
  1. Technical Training, eg how to operate a machine
  2. Management Training, eg. how to performance appraisals
  3. Communication Training, eg how to write e-mails
  4. Sales Training, eg how to overcome customers objections
  5. Customer Service Training, eg how to serve from the heart
  6. Motivational and Inspirational training, eg how to contribute more to the company without working late
  7. All other work related training including office discipline and e-mail etiquette. 
Note that other than salary cost, businesses can also claim the following:
  1. Training Meals, i.e. lunches, dinners and tea breaks for the training;
  2. Training Materials, i.e. books, certificates, stationery etc used for the training;
  3. Training room rental like rental of hotel rooms.
Note that the following 3 types of activities cannot be claimed:
  1. Meetings
  2. Routine discussions
  3. Coaching and Mentoring sessions
Other related articles useful to you include:
  1. The 7 Changes to PIC that You Must Know
  2. Tightening of PIC and Expiry of PIC Bonus in 8 months time
  3. Budget 2014 and You in 11 Lines
  4. How PIC Benefits Your Employees financially
  5. The 7 Fetters of Employees
  6. Prevent Your Company from Becoming another Ukrain

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