PIC bonus

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PIC bonus

Postby kitty2 » Thu Nov 28, 2013 11:00 am

Anyone claim the PIC bonus before? Is it easy to claim?

Please share , thanks

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Re: PIC bonus

Postby zbear » Thu Nov 28, 2013 6:59 pm

What is PIC bonus?

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Re: PIC bonus

Postby kitty2 » Thu Nov 28, 2013 7:32 pm

zbear wrote:What is PIC bonus?




Productivity and Innovation Credit

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Re: PIC bonus

Postby Funz » Thu Nov 28, 2013 7:46 pm

This is for businesses. Pretty straight forward. Just go to the website, get the forms, fill in and follow instructions. You can choose to receive cash or use as tax offset. Your vendors should be able to tell you if their service or products are eligible for this.

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Re: PIC bonus

Postby kitty2 » Thu Nov 28, 2013 8:01 pm

Funz wrote:This is for businesses. Pretty straight forward. Just go to the website, get the forms, fill in and follow instructions. You can choose to receive cash or use as tax offset. Your vendors should be able to tell you if their service or products are eligible for this.

Need 3 employees, contribute cpf?Need to check how much to contribute n when to contribute?

Not so easy :(

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Re: PIC bonus

Postby Funz » Thu Nov 28, 2013 8:15 pm

kitty2 wrote:
Funz wrote:This is for businesses. Pretty straight forward. Just go to the website, get the forms, fill in and follow instructions. You can choose to receive cash or use as tax offset. Your vendors should be able to tell you if their service or products are eligible for this.

Need 3 employees, contribute cpf?Need to check how much to contribute n when to contribute?

Not so easy :(


Oh you referring to criteria.

Yah need at least 3 employees with CPF contribution.

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Re: PIC bonus

Postby kitty2 » Thu Nov 28, 2013 8:25 pm

Funz wrote:
kitty2 wrote:
Funz wrote:This is for businesses. Pretty straight forward. Just go to the website, get the forms, fill in and follow instructions. You can choose to receive cash or use as tax offset. Your vendors should be able to tell you if their service or products are eligible for this.

Need 3 employees, contribute cpf?Need to check how much to contribute n when to contribute?

Not so easy :(


Oh you referring to criteria.

Yah need at least 3 employees with CPF contribution.

Still have other criteria?

Thanks for sharing

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Re: PIC bonus

Postby Funz » Thu Nov 28, 2013 8:33 pm

kitty2 wrote:
Funz wrote:
kitty2 wrote:Not so easy :(


Oh you referring to criteria.

Yah need at least 3 employees with CPF contribution.

Still have other criteria?

Thanks for sharing


http://www.iras.gov.sg/irasHome/page04.aspx?id=14566

You need to have claimed PIC first in order to qualify for the PIC bonus

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Re: PIC bonus

Postby kitty2 » Thu Nov 28, 2013 8:59 pm

How fast can they get bk the cash?why must claim first than can have the bonus?How fast can they get bk the cash?Must attached the invoice to the claim form?Must pay yourself then can claim right?

Thanks for your help as the website doesn't have these details

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Re: PIC bonus

Postby Funz » Thu Nov 28, 2013 9:22 pm

kitty2 wrote:How fast can they get bk the cash?why must claim first than can have the bonus?How fast can they get bk the cash?Must attached the invoice to the claim form?Must pay yourself then can claim right?

Thanks for your help as the website doesn't have these details


That is one of the criteria for the PIC bonus. It is a bonus claim to PIC thus named PIC bonus. Companies must have made a claim under PIC first.

Actually all the information is there. You just need to click on the links and read them. For both PIC and PIC bonus you need to have at least 3 staff with CPF contribution, not including shareholder of the companies.

Companies must pay first
Yes keep a copy of the invoice attached to your claims and file it up for easy reference, though there is no need to submit the invoice when doing the claims
Usually within 3 months of the claim they will send you the money.

Click on the PIC cash payout form and you will see all the information needed to apply for the claim.

If you still have no idea how to go about it, call them. They have officers who are able to help.

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