Based on feedback to help SMEs benefit from the PIC scheme without rushing the implementation of their investments, the Minister for Finance announced a refinement to the PIC claims process on 4 Mar 2010, to enable companies to combine the $300,000 ceilings per year for the first two years into a new ceiling of $600,000 over two years. Businesses will therefore be able to claim a 250% deduction for the first $600,000 of expenditure on each activity that they incur for YA2011 and YA2012 combined. Thereafter the scheme will revert to the yearly cap of $300,000 per activity so as to focus the scheme on our SMEs.
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