{"id":945,"date":"2013-07-12T12:59:50","date_gmt":"2013-07-12T04:59:50","guid":{"rendered":"http:\/\/td2htech.com\/synergixtech_dev\/\/?post_type=news-event&#038;p=945"},"modified":"2019-05-10T09:44:53","modified_gmt":"2019-05-10T01:44:53","slug":"leverage-pic-improving-productivity-erp-software","status":"publish","type":"post","link":"https:\/\/td2htech.com\/synergixtech_dev\/leverage-pic-improving-productivity-erp-software\/","title":{"rendered":"Leverage on PIC to save cost while improving your productivity with a ERP System"},"content":{"rendered":"<p><strong>NOTE: Deadline for PIC Tax Deduction is Dec 2014. FY 2015<br \/>\n<\/strong><\/p>\n<p>Do you know that there is a possibility of reaching almost $0 net cash impact using both the PIC Tax Deduction and various grants available while achieving a booast in your productivity?<\/p>\n<p>To encourage companies to raise their productivity, the Singapore government had offers IRAS PIC Tax Deduction. Out of the 6 qualifying activities, ERP System is one of that which is categorized under the Acquisition of IT and automation equipment. For companies with profit, you should be looking at PIC 400% Tax Deduction\/allowance, which is up to $400,000 expenditure per year. For companies whom has no profit left to enjoy the PIC 400% Tax Deduction, there is still another option which is the 60% Cash Payout , capped at $100,000 expenditure. There is also the launch of a new PIC Cash Bonus, worth a total of $15,000 per company , and the qualifying expenditure incurred must be at least $5,000.<\/p>\n<p>Example if a automation equipment cost you $100,000 qualifying PIC expenditure , you can deduct $400,000 from your taxable and for simplicity reason, we will take 17% as the overall corporate tax and that means you will save about $68,000 tax payment and thus, your estimated net cash impact will be around $32,000. thereafter you can continue to tap on the PIC Cash Bonus of $15,000 and hence, the net cash impact will further be reduced to $17,000.<\/p>\n<p>In addition, depending on which industry you are from, there is IDA iSprint or BCA PIP grant available for application before the net figure can proceed with PIC Tax Deduction.<\/p>\n<p>If you wish to see which part of the IT automation system such as the hardware and\/or software can qualify for the PIC and which grants is eligible for your company possibly,\u00a0 please feel free to email us at\u00a0<a href=\"mailto:marketing@synergixtech.com\">marketing@synergixtech.com<\/a> and we will arrange for a Consultant to speak with you in further details. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>NOTE: Deadline for PIC Tax Deduction is Dec 2014. FY 2015 Do you know that there is a possibility of reaching almost $0 net cash impact using both the PIC Tax Deduction and various grants available while achieving a booast in your productivity? To encourage companies to raise their productivity, the Singapore government had offers [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[],"class_list":["post-945","post","type-post","status-publish","format-standard","hentry","category-business-blog"],"_links":{"self":[{"href":"https:\/\/td2htech.com\/synergixtech_dev\/wp-json\/wp\/v2\/posts\/945","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/td2htech.com\/synergixtech_dev\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/td2htech.com\/synergixtech_dev\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/td2htech.com\/synergixtech_dev\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/td2htech.com\/synergixtech_dev\/wp-json\/wp\/v2\/comments?post=945"}],"version-history":[{"count":4,"href":"https:\/\/td2htech.com\/synergixtech_dev\/wp-json\/wp\/v2\/posts\/945\/revisions"}],"predecessor-version":[{"id":1788,"href":"https:\/\/td2htech.com\/synergixtech_dev\/wp-json\/wp\/v2\/posts\/945\/revisions\/1788"}],"wp:attachment":[{"href":"https:\/\/td2htech.com\/synergixtech_dev\/wp-json\/wp\/v2\/media?parent=945"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/td2htech.com\/synergixtech_dev\/wp-json\/wp\/v2\/categories?post=945"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/td2htech.com\/synergixtech_dev\/wp-json\/wp\/v2\/tags?post=945"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}