Benefiting as others benefit

Benefiting as others benefit

A scheme that provides tax incentives for firms to become more efficient has also become a money-spinner for corporate trainers and other companies that promote the programme's benefits.

The Productivity and Innovation Credit (PIC) scheme gives tax breaks when investments are made to lift productivity, but understanding the finer details can be daunting.

That has prompted training firms to offer courses for bosses, while some companies are trying to win business by telling customers that they might qualify for PIC rebates.

Mr Andy Ng, founder of training company Asia Coaching Training, runs weekly seminars to educate bosses of small and medium-sized enterprises about the help they can get under the PIC scheme.

Mr Ng has been running 21/2-hour seminars on the PIC scheme once a week since February last year. They cost about $50 per person, with two to five people attending each time.

The PIC scheme was introduced in 2010 and provides a range of tax incentives to help businesses improve productivity and innovation. But many bosses remain unsure of what it can do for them.

"There are actually many things that companies can claim for, like buying computers, internal training, purchasing tech products as incentives for staff... People should be aware of the things they can claim, to maximise the benefits they can receive under the PIC," said Mr Ng, who set up his company in 2001.

He added that his clients prefer receiving guidance from him to consulting government websites as he "customises (his) advice to their industry and their needs".

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