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Old 9th January 2015, 12:58 PM   #1 (permalink)
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PIC Grant by IRAS

Hi everyone,

I applied for PIC grant in July and the application was handled by 1 Indian officer called Kavi Priya d/o Sivanathan. She rejected my application twice.

1st rejection letter they asked so many question and I took a week to reply sending so much of replies about 2 pages.After explaining everything i thought she would approve as my reasons and business was genuine and I met all eligibility conditions.

I have even called IRAS checking on the policy and conditions before applying for the grant.I followed all their instruction and in the end another rejection letter came in saying that I do not need 3 employees for business and its a bonafide reasons.

I dont understand how come she can just simply assume that I have a bonafide reason.She don't even know what and how my business operates.

My other friends who applied the PIC Grant got approved. I did the same things as what they did but mine was rejected.I don't understand under what circumstances they conclude such a reason to reject my application?

Any help in here..I have spend money to get the grant..I have done a new website and App and have send my employees to training and now all is going down the dain. Don't know whether to believe in the grant scheme in Singapore?

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Old 9th January 2015, 01:13 PM   #2 (permalink)
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Re: PIC Grant by IRAS

Have you tried providing proof of work done by your employees and justify why you need them?

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Old 17th January 2015, 12:25 AM   #3 (permalink)
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Re: PIC Grant by IRAS

You need a tax agent instead of an SG Club forumer. In my experience, the PIC claim is fairly straightforward and easy.

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Old 6th March 2015, 10:27 AM   #4 (permalink)
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Re: PIC Grant by IRAS

Do note that 2015 is the last year you can claim your PIC grant.

Also, the PIC website has all the details you need and the criteria to meet when submitting your application. You do not need to hire anyone to help you process the application unless you are hopeless with paperwork.

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Old 6th March 2015, 11:33 AM   #5 (permalink)
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Re: PIC Grant by IRAS

Originally Posted by Lancelot View Post
Do note that 2015 is the last year you can claim your PIC grant.

Also, the PIC website has all the details you need and the criteria to meet when submitting your application. You do not need to hire anyone to help you process the application unless you are hopeless with paperwork.
Some wrong info there i think. 2015 is not the last year for PIC grant, but 2014 is the last year for the PIC bonus (additional 100% in subsidy on top of the 60% cash payout). So now can only claim 60%.

But i agree that application of the PIC is pretty simple and don't require hiring someone else to help you. Just make sure you read the conditions carefully and don't try to play out the government. They are clamping down really hard now.

Conditions for cash payout

Businesses eligible to apply for the cash payout are sole-proprietorships, partnerships, companies (including registered business trusts) that have:

incurred# qualifying expenditure and are entitled to PIC during the basis period for the qualifying YA;
active business operations in Singapore; and
at least 3 local employees (Singapore citizens or Singapore permanent residents with CPF contributions) excluding sole-proprietors, partners under contract for service and shareholders who are directors of the company. A business is considered to have met the 3-local-employees condition if it contributes CPF on the payroll of at least 3 local employees in the relevant month(s).

http://www.iras.gov.sg/irasHome/page..._Payout_Option

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Old 6th March 2015, 11:35 AM   #6 (permalink)
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Re: PIC Grant by IRAS

Originally Posted by limhockbock View Post
Hi everyone,

I applied for PIC grant in July and the application was handled by 1 Indian officer called Kavi Priya d/o Sivanathan. She rejected my application twice.

1st rejection letter they asked so many question and I took a week to reply sending so much of replies about 2 pages.After explaining everything i thought she would approve as my reasons and business was genuine and I met all eligibility conditions.

I have even called IRAS checking on the policy and conditions before applying for the grant.I followed all their instruction and in the end another rejection letter came in saying that I do not need 3 employees for business and its a bonafide reasons.

I dont understand how come she can just simply assume that I have a bonafide reason.She don't even know what and how my business operates.

My other friends who applied the PIC Grant got approved. I did the same things as what they did but mine was rejected.I don't understand under what circumstances they conclude such a reason to reject my application?

Any help in here..I have spend money to get the grant..I have done a new website and App and have send my employees to training and now all is going down the dain. Don't know whether to believe in the grant scheme in Singapore?
What kind of business are running? And how much did you contribute for your employees? How long have you had your employees?

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Old 6th March 2015, 11:57 AM   #7 (permalink)
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Re: PIC Grant by IRAS

Originally Posted by maverick View Post
Some wrong info there i think. 2015 is not the last year for PIC grant, but 2014 is the last year for the PIC bonus (additional 100% in subsidy on top of the 60% cash payout). So now can only claim 60%.

But i agree that application of the PIC is pretty simple and don't require hiring someone else to help you. Just make sure you read the conditions carefully and don't try to play out the government. They are clamping down really hard now.

Conditions for cash payout

Businesses eligible to apply for the cash payout are sole-proprietorships, partnerships, companies (including registered business trusts) that have:

incurred# qualifying expenditure and are entitled to PIC during the basis period for the qualifying YA;
active business operations in Singapore; and
at least 3 local employees (Singapore citizens or Singapore permanent residents with CPF contributions) excluding sole-proprietors, partners under contract for service and shareholders who are directors of the company. A business is considered to have met the 3-local-employees condition if it contributes CPF on the payroll of at least 3 local employees in the relevant month(s).

http://www.iras.gov.sg/irasHome/page..._Payout_Option
Boss, this is a line from the IRAS website:

As announced in Budget 2015, PIC Bonus will expire in YA 2015.

Year of Assessment 2015 includes 2015 if I recall, so that the grant scheme has sufficient time to wind down by Q4 of 2015.

Again, correct me if I am mistaken.


Last edited by Lancelot; 6th March 2015 at 11:57 AM.
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Old 6th April 2015, 12:48 PM   #8 (permalink)
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Re: PIC Grant by IRAS

my experience with PIC claims:

Submitted my company's claims for last quarter of 2014 which ends in Dec 2014. We submitted it in the first week of Jan 2015. We kept all receipts, exact serial number and model numbers, which were all neatly submitted in our form. We had 3 part timers working for us, starting in Dec 2014 and we paid CPF into their accounts. So in effect, our company only paid 1 month of CPF for the last quarter of 2014.

Our company has been around since 2007, but only started hiring part-timers because we cldn't afford it in the past. But with the PIC bonus, we cld use the incentives to subsidise the hirings.

We received confirmation of our approval sometime in early Mar 2015. So it took about 2mths. We got the 60% cheque first and then the 100% (PIC bonus) cheque about a week later.


Last edited by maverick; 6th April 2015 at 12:56 PM.
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