PIC + Scheme for Small and Medium Enterprises

The above scheme is available to Small & Medium Enterprises (SME) for expenditure incurred in YA 2015 to YA 2018.

The expenditure cap for qualifying SME will be increased from $400,000 to $600,000 per qualifying activity per YA.

Since the PIC+ Scheme only takes effect from YA 2015, the combined expenditure cap will be up to $1.4 million for YA 2015 (i.e. $400,000 for YA 2013 + $400,000 for YA 2014 + $600,000 for YA 2015) and up to $1.8 million for YA 2016 to YA 2018.

The expenditure cap for PIC cash pay-out will remain at $100,000 of qualifying expenditure per YA. 

A qualifying SME refers to a sole-proprietorship, a partnership or a company with annual turnover not exceeding $100 million; or with workforce not exceeding 200 workers. This criterion will be applied at the group level if the SME is part of a group.