HOW TO CLAIM PIC AND COMMUNITY INTEGRATION FUND SINGAPORE
You want get funding for your Corporate Team Building Event and do not how to get it?
Thanks for visiting this webpage about how to get funding for your corporate team building activity. Probably your busy with searching for a new team idea in Singapore for 2019 or already in decision stage and found the team building activity you want to do with your team! But what about all the grant, schemes, funding in Singapore!
And it is time for action!
Where to start, where to find information, Agent or no agent, which document i need, are we eligible for it? Many more questions. Welcome to Singapore i would say! It takes a lot of time and effort to find your way in world called grants, schemes and funding in Singapore. It is a precise process with a lot of documents filled in and still there is always a change of your claim being denied. But it is worth the effort, trying to get up to 400% tax deduction/allowances or 40% cash payout with the PIC (productivity and innovation Scheme) or up to 80% off from CIF (Community Integration Fund Claim). Sounds good or not? Grab a coffee or a tea and keep on reading!
Schemes, grants, funding! How many in Singapore?
First things first, we would like to set expectations right. As i wrote already with tons of information on the huge number of grants in Singapore, reading up on the various types of funding can be stressful and overwhelming. You can drown in the information. Singapore is country number 1 in all kind of grants, schemes and funds. It attracts a lot of foreign companies to set up business here with 30+ shareholding by local Singaporean or with help of incorporation companies!
So how many are there in Singapore. If you are interested in it, you can take a look at it and get an extra coffee for yourself. I got the link from SME Portal Singapore
Are You still there? I hoped you enjoyed it or you just scrolled down. Oke let's focus on the important things! How to get PIC or CIF! Check first of you are eligible for the claim. Take a look below:
Streamlined assistance for companies to upgrade capabilities, innovate and go overseas.
Apply for up to S$30,000 funding to build up your company's BIM collaboration capability to improve productivity in managing building projects.
Improve your business’ productivity and competitiveness and get up to 70% funding support.
Wage support to encourage employers to hire eligible Singapore citizen Professionals, Managers, Executives and Technicians (PMETs) and tap on their experience and transferable skills.
To build a strong core of specialised Singaporean ICT professionals with Smart Nation capabilities, CITREP+ is now expanded to support entry-level professionals to build specialised ICT skills through broad-based training and certifications.
This grant supports industrial companies in their efforts to lower their facility's operating costs through energy efficiency.
Enhanced Training Support for SMEs is a scheme aimed at encouraging small and medium enterprises (SMEs) to send employees for training and skills upgrading.
The Enterprise Development Grant (EDG) helps Singapore companies grow and transform and also supports projects that help you upgrade your business, innovate or venture overseas.
Trade Association & Chambers can tap iMAP to bring SMEs on board overseas missions and trade fairs to access more markets.
Taking your business overseas for the first time? Get up to 70% of support on eligible costs with the MRA Grant.
Raise builders’ construction productivity through technology adoption.
Want to maximise returns from your investments in technology? Get a grant for expert help from A*STAR to create a technology roadmap.
Operate your business more efficiently by re-engineering your work processes and adopting labour-efficient technologies.
The Productivity-Max (P-Max) programme helps small and medium enterprises (SMEs) better recruit and retain Professionals, Managers and Executives (PMEs).
Companies keen to improve productivity by adopting technology solutions can now tap this simplified grant.
Supports efforts across Merchant Associations (MAs) to enhance vibrancy and competitiveness among HDB retailers.
Help SMEs build stronger digital capabilities to seize the opportunities for growth in the digital economy.
Engage and attract local talent from the Institutes of Technical Education (ITEs), polytechnics and universities through quality internships.
Helps media professionals to upgrade, upskill and secure work attachment opportunities.
Helps to improve the accessibility to technology for small and medium enterprises (SMEs) to enhance their productivity and innovation.
Access the pool of talent from A*STAR’s Research Institutes and build in-house R&D capabilities in your business operations.
Upgrade knowledge and expertise of local maritime personnel through attending approved training programmes under the Maritime Cluster Fund (MCF).
Is your business in the tourism industry? Get a grant to send your staff for upgrading as well as talent and leadership development.
Get funding support when you apply for training courses and assessment offered by the BCA Academy or any Approved Training and Testing Centres (ATTCs) by the Building and Construction Authority (BCA).
Encourage employers to implement progressive employment practices to benefit Singaporeans through job redesign, age management practices and flexible work arrangements.
Oke let’s focus on the important things! How to get PIC or CIF! Check first of you are eligible for the claim. Take a look below
Criteria for getting PIC (productivity and innovation Scheme) and how to claim it?
As for the PIC (productivity and innovation Scheme) claim i will come back later on the productivity issues or opportunities that you are trying to address first before you start claiming it.
Who can use it:
- Singapore-based businesses | 30%+ Singaporean shareholding.
- 3+ local employees with CPF in qualifying quarter | <200 employees
- Revenue less than $100 million
- Incurred at least $400 in qualifying expenses
Where can you use it for:
- IT/Automation equipments
- Getting IP rights
- Registering IP
How much can you get back?
- Up to 400% tax deduction/allowances or 40% cash payout
How to claim.
- Organize a beautiful team building activity and get an official invoice and fill in the documents for cash pay out. For more information go to this link
- For tax deduction you can read more on the website of IRAS
- Always e file it under training category "Team building training to improve productivity"
- Read useful case studies.