Grants and Funding PIC Grant
The Productivity and Innovation Credit (PIC) Scheme aims to encourage enterprises to upgrade their capabilities by investing in a wide range of productivity and innovation-related activities. One of these activities is employee training. It covers expenses incurred during external training as well as in-house training for all types of businesses, including SMEs.
All SMEs are eligible for the PIC grant, which is available for up to 5 years. However, all the qualifying expenditure must be incurred between the basis periods for Years of Assessment (YA) 2011 to 2018.
Likewise, all businesses also enjoy a PIC Bonus from YAs 2013 to 2015 – a dollar-for-dollar matching cash bonus offered in addition to the 400% tax benefits and 60% cash payout.
Engage QT&T as your training provider and be rewarded far beyond what you are investing. In fact, your net investment can be negative.
The following example shows how much you can get back via the PIC Grant.
Assuming Company X pays QT&T $6,000 for Training.
IRAS will pay Company X $6,000 (as PIC Bonus, $1 to $1 matching) AND IRAS will pay Company X 60% of $6,000 which is $3,600.
So in total, Company X will get back $9,600 but the investment made by Company X is only $6,000!
To know more about PIC Grants ,click here.
Training Programs Eligible for PIC Grants
Project Management Professional Prep
Program management professional Prep
Agile Certified Practioner (ACP) Prep
PM Skill training – Leadership , Emotional Intelligence, Negotiation etc.
IT Infrastructure Library (ITIL) Foundation - Intermediate - Expert
ISO27001 Lead Auditor
ISO20000 Lead Auditor
Lean Six Sigma Green and Black Belt