Productivity and Innovation Credit (PIC)


The director of Company XYZ purchased a computer in February 2016. He submitted his PIC claim on 01/08/2016. With the recent PIC claim changes announced during the 2016 budget, what is his elgible claim rate?


The PIC cash payout rate has been reduced from 60% to 40% for qualifying expenses incurred on or after 01/08/2016. This change is not determined by the PIC claim submission date.

As the computer was purchased in February 2016, which is before the effective date of the change (01/08/2016), the director is still eligible to claim the payout rate of 60% although the claim was submitted after the effective date.

PIC claim must fulfill all conditions set by IRAS to be eligible for the cash payout.


For more information on the changes to the PIC cash payout rate, please refer to the IRAS website.


By |2017-06-16T13:01:59+00:00August 23rd, 2016|Governments|0 Comments