Businesses are able to enjoy 400% tax breaks or 60% cash payout for investments in innovation and productivity improvements under the PIC scheme.
Startups are all about the Execution, but I also strongly believe in managing a good cashflow so I’m very careful with Intraix spending, always keeping burn rate in check and when there is a scheme to save money, I will always jump on it.
PIC is a scheme announced to help SME (including startups) to get back 60% of their spending. In other words, if you buy a MacBook Air for your employee, you will pay the full sum but you can submit a claim through PIC and you will get back 60% of the spending. “How awesome is that!“(certainly helps in my cashflow) but the application process is somewhat confusing and when I ask my some of fellow startup friends, they do not even know of these initiatives.
This Friday, Plug-In@Blk71 is holding a PIC workshop. This is an awesome opportunity for me to whack them with questions. For those who are frustrated in the application process like me, this is the time to get back your 60% cash spending.
p/s yes, MacBook is consider as a productivity tool