Productivity & Innovation Credit (PIC)

Under the PIC Scheme, businesses can enjoy 400% tax deductions/allowances and/or 60% cash payout for investments made in any of the Six Qualifying Activities from the Years of Assessment (YAs) 2013 to 2018.
From YAs 2013 to 2015, businesses can also enjoy a PIC Bonus. This is a dollar-for-dollar matching cash bonus capped at $15,000, given on top of the existing tax deduction/allowance and/or cash payout. As announced in Budget 2015, PIC Bonus will expire in YA 2015.
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