Day: July 31, 2016

Productivity and Innovation Credit Scheme: Cash Payout Rate at 40% from 1 Aug 2016

As announced earlier by the Finance Minister in his maiden Budget 2016 speech that with effect from 1 Aug 2016, the Productivity and Innovation Credit (PIC) cash payout rate is to be reduced to 40% of qualifying expenditure subject to a total expenditure cap of $100,000 across the six qualifying activities. Before this change, the rate was 60%. In addition,… Continue reading Productivity and Innovation Credit Scheme: Cash Payout Rate at 40% from 1 Aug 2016