Thursday, October 1, 2015

Government Grant - Innovation Capability Voucher

Referring to Spring Singapore website, this grant is to assist SME defray cost of consultancy and solutions to improve business efficiency.

Let us talk about the solutions portion of this grant. There are many solutions SMEs can tap from this grant ranging from Accounting solutions to over 20 pre-approved list of integrated solutions available in Spring website.

This is going to be simple for SMEs with the follow 3 steps:

1. Eligibility:

  • Registered and operating in Singapore
  • Have a minimum of 30% local shareholding
  • Have group annual turnover of not more than $100 million OR group employment size of not more than 200 employees

** do note that this grant do not require you to have 3 CPF paying employees as per PIC grant

2. Application:
** simple example of qualified solutions includes MYOB, Moneyworks or HR Management Solutions

3. Claims:
4. Amount:
  • 100% up to $5,000 of the qualifying cost of solution and services
  • If project exceeds $5,000, the balance you can still claim PIC (60% cash or 400% against tax)
  • Refer to the link for ICV and PIC
Advanced Micro Control Pte Ltd will also be willing to assist you in the area of MYOB and Moneyworks!

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