Maximizing Your PIC Claims Legally

Note: PIC (Productivity and Innovation Credit) from IRAS gives companies 60% cash (maximum $60,000 yearly) when they invest in training and equipment.

To get the most from the government under PIC claims and yet don't cheat them and break the law, all companies can do the following 7 things: (to get your free iPhone 6 + worth $1,488 without paying, read this)

Get a designated person in your company to be the PIC Leader, who will oversee all PIC claims. This is because there is no such thing as auto pilot, more at here
Learn from trainers how to maximise the PIC claims. An example of a good course is here
Go for cash payout instead of tax deduction, as this will give you more cash flow, allowing to invest more in PIC activities and claim even more in return
Invest in PIC claimable equipment, like an automated door instead of a fancy door
Invest in training, especially those training that increases your profits directly, in particular sales training.
Invest in training that make your staff do more with less, like management and leadership skills, work skills, motivational and emotional intelligence
Invest in internal training and get $10,000 claims in every year. Details at here

In short, if you don't maximise your PIC claims, you are letting your competitors maximise their gains over you. This is because smart companies will use the PIC claims to increase their competitiveness. Related articles on PIC:

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