Business and Money Tips

Note: click here for PIC training As we know, the PIC ( Productivity and Innovation Credit ) scheme has been in place since 2010, and has just been extended till 2017.  Under this general and generous scheme , the government gives 60% cash or 3 times additional tax deductions to businesses that invest to innovate and up their productivity. The 8 types of expenditure eligible for PIC Claims are: Training , IT Solutions, IT Hardware, Software, Automation Equipment, R & D, Intellectual Property Rights and Singapore Design Council design projects. Many employees that we talk to feel that such a scheme only benefits their employer and they cannot see any benefits accruing to them. In fact some employees told us that making PIC Claims only adds up to their already heavy work load.  It's just a government's gimmick, right? Make no mistake: the Government is serious about making Singapore's employees more productive . When employers receive money from the gover...