In 2018, companies can still apply for PIC Cash Payout


12/03/2018

The Productivity Innovation Credit (PIC) is phasing out, and companies often think that it’s no longer an option. However, many companies can still submit claims for expenses incurred in their financial year 2017 up until December 15, 2018, a valuable opportunity to secure funding.

In addition, many businesses fail to claim staff costs, as these are hard to identify from a pure accounting point of view. However, these are in fact eligible under three categories:

  • Internal training: Costs of employees’ training
  • R&D: Costs of the research team’s time on an eligible project
  • Internal software development: Costs related to the development of internal productivity/automation IT tools