Productivity & Innovation Credit (PIC)

PROPER FOR: 

All Eligible Businesses Intending To Make IT Purchases.


Grant Information

1)  Cash Pay-Out Option:

Obtain Cash Pay-Out Of 60% Of Up To $100,000 Of Total Qualifying Investment Each Year 

2)  Tax Deductions Or Allowances

Up To 400% Tax Deductions/Allowances On Up To S$400,000 Of Annual Expenses Incurred For Any Of The Six (6) Qualifying Activities

 

Acceptability 

Qualifying Activities:

·          Procurement And Leasing Of PIC IT Automation Equipment

·          Training Of Employees

·          Purchase And Licensing Of Intellectual Property Rights

·          Certification Of Patents, Trademarks, Designs, Including Plant Diversity

·          Research And Development

·          Investment In Design Projects

Circumstance:

·          We Need To Incur The Essential Qualifying Expenditure And Must Be Entitled To PIC During The Qualifying YA.

·          Requirement To Be Actively Operating In Singapore.

·          Require To Have At Least 3 Local Employees (Either Singapore Residents Or Permanent Residents) That Are Actively Providing Their Particular CPF Contributions.

Innovation & Capability Voucher (ICV)

PROPER FOR:

All eligible corporations planning to spend on productivity solutions or consultancy projects


GRANT INFORMATION

  •  Appeal for S$5,000 voucher usable for productivity solutions or consultancy projects

  •  Productivity solutions covered involve Equipment & Hardware, Technical Solutions & Training, also Design & Renovation

  •  While, Consultancy projects should be related to Innovation, Productivity, Human Resources, also Financial Management

  •  Allowed a maximum of 8 vouchers, with projects not overlapping with each other

            ELIGIBILITY

  •  Accumulation annual sales turnover to be less than or equal to S$100 million or group employment of a maximum of 200 employees

  •  Be registered plus operating in Singapore

  •  Hold at least 30% local shareholding

 

SME Amplify Training Support

SUITABLE FOR:

All eligible corporations aiming to sponsor employee training

 

GRANT INFORMATION

1) Course Fee Funding

  •  Continuing Education plus Training (CET) Centres’ courses

  •  certifiable courses capped at S$30 per hour

  •  in-house certifiable training capped at S$15 per hour

  •  Polytechnics’ including ITE’s academic CET programs (for Singapore Residents)

2) Absentee Payroll Funding

Declare payroll funding of up to 80% of your employee’s basic hourly salary, capped at S$7.50 per hour

ELIGIBILITY

  •  Registered or consolidated in Singapore

  •  Have at least 30% local shareholding

  •  Accumulation annual sales turnover to be less than or equal to S$100 million or group employment of maximum 200employees

  •  The business fully sponsors employee for the training

The employee needs to be a Singapore Citizen or a Singapore Permanent Resident.

 

ISPRINT

SUITABLE FOR:

 

Businesses are interested in investing in packaged solutions such as point of sales systems, CFM software, accounting software, et cetera.

GRANT INFORMATION

The grant will protect up to 70% of the costs, capped at $20,000.

SMEs that favor to utilize particular sector solutions only require to pay 30% of the expenses upfront to vendors, with the IDA reimbursing the outstanding costs directly to the vendors.

ELIGIBILITY

  •  Accumulation of annual sales turnover to be less than or equal to S$100 million or    group employment of maximum 200employees
  •  Be registered plus operating in Singapore
  •  Hold at least 30% local shareholding
  •  CSolutions must be chosen from a list of vendors from IDA’s pre-qualified list

 

ICT FOR PRODUCTIVITY AND GROWTH (ICG)

PROPER FOR:

Businesses looking into adopting ICT solutions

GRANT INFORMATION & ELIGIBILITY

1. Scaling up current ICT solutions

  •  70%of the qualifying costs will be subsidized

  •  Condition: The resolution must be able to help the business achieve productivity gains, the vendor must be pre-approved.

2. Managing of new solutions

  •  80% of the qualifying pilot project costs will be subsidized, up to $1 million per SME

  •  Condition: The suggested solution has to be a first deployment in the Singapore SME division

3. Allowing high-speed internet connectivity for companies

  •  50%of the monthly fiber subscription bills will be subsidized, capped at $120 per month and up to 2 years, or $2,880 per SME

  •  The one-time purchase cost of the [email protected] equipment will be subsidized, capped at $2,400, for SMEs that require a wireless connection in their public-facing business premises 

  •  Condition: the SME must subscribe to service plans that feature speed of at least 100Mbpsand to allow IDA to conduct random network audit

 

Market Readiness Assistance Grant (MRA)

SUITABLE FOR:

 

All eligible businesses looking to expand internationally

GRANT INFORMATION

 

  •  70% of the likely cost for qualifying activities, capped at S$20,000 per business per fiscal year
  •  Maximum of two requests per fiscal year, starting on 1 April and ending on 31 March the subsequent year
  •  70% of the eligible charge for qualifying activities, capped at S$20,000 per business per fiscal year

Qualifying activities:

 

  •  Market Assessment and market entry for overseas market set-up
  •  Company matching for Overseas Business Partners
  •  Overseas market promotion

 

ELIGIBILITY

 

  •  Corporations are needed to have the global HQ anchored in Singapore
  •  SMEs with an annual turnover of less than S$100 million per annum based on the most current audited report

 

Age Management Grant

SUITABLE FOR:

 

All eligible businesses.

 

GRANT INFORMATION

 

·          Funding of up to $20,000 per corporation

·          Implement two out of six age management practices

·          Visit mandatory training in age management, job redesign

·          Composing a health program

 

Work-Life Grant

SUITABLE FOR:

 

All qualified companies.

 

GRANT INFORMATION

 

·          Loan quantum of $100,000 with a repayment duration of up to four years.

·         The loan can be taken for daily operations, automating also upgrading of factory plus equipment

·          Be registered and operating in Singapore

ELIGIBILITY

 

  •  Corporation annual sales turnover to be less than or equal to S$1 million or employment of maximum 10employees
  • Accumulation annual sales turnover to be less than or equal to S$100 million or group employment of maximum 200employees
  • Be registered plus operating in Singapore
  • Hold at least 30% local shareholding