The PIC (Productivity and Innovation Credit) scheme is applicable to specific courses (Wilton 4 Star Intensive Course and PME Master Intensive Course) and Corporate Team Building Events offered by Bake It Yourself to improve employee productivity and innovation.This means great savings for businesses if their request for PIC grant is approved by the Internal Revenue Authority of Singapore (IRAS) - 60% cash back or 400% tax deduction off course fees!
Your company must meet all IRAS criteria for eligility - for example, your company must have employed and made Central Provident Fund (CPF) contributions for at least 3 employees who are Singapore Citizens or Permanent Residents in the last month of the relevant financial period of cash payout claim.
For more information on the eligibility criteria, please visit the IRAS website at:
- Companies applying for PIC grants for Corporate Team Building Events offered by B-I-Y: This is open to all companies in any industry with the objective of booking B-I-Y's Corporate Team Building Events to enhance their company / team / department's productivity, innovation, teamwork.
- Companies applying for PIC grants for Wilton 4 Star Inventive Course, PME Master Intensive Course, Corporate Private Classes and Team Bonding Programs: These companies have to be in an industry where cake decorating is an essential skill. Thus, after attending the courses held by B-I-Y, their cake decorating skills will be upgraded and improved, increasing the productivity of the company.
*Name of Module: Wilton 4 Star Intensive Course
Product ID: WIL-4Star
Course Fee: $1,280.00
Cash payout from PIC fund (60%) = S$768.00
So your company only pays 40% of the fees = $512.00
*Name of Module: PME Masters Intensive Course
Product ID: PME-Masters
Course Fee: $2,890.00
Cash payout from PIC fund: (60%) $1,734.00
So your company only pays 40% of the fees = S$1,156.00
2. How To Book?
=> To book our Team Building Events:
Contact our class administrator directly at 31-526-526 / email@example.com
I. Fax (+65 6-512-7755) or email class enrolment form to firstname.lastname@example.org / call us at tel: 31-526-526 or 31-529-529 / come to store in person
II. Inform our class administrator that you wish to apply for PIC grant. (see below for PIC grant application process)
3. How to apply for the PIC cash grant?
- With Help From B-I-Y
Step 1: Upon request, B-I-Y will provide companies with the pre-filled forms required by IRAS.
Step 2: Companies complete the form with their company details and submit directly to IRAS
- But if you wish to do it by yourself, here are the steps:
Step 1:To apply for cash grants: Applicant company must submit the required forms to IRAS.
- For application procedure, go to http://www.iras.gov.sg/irashome/picredit.aspx
- Click on “ PIC Cash Payout Form” to download the excel spreadsheet
- Print the forms under the tab of ‘NEW FORM 33000’ and ‘ANNEX 1’
For ‘NEW FORM 33000’
fill in the required fields and under Part B, fill in the amount paid for the course in section 4bii)
And mark ‘X’ in the A1 box
For ‘ANNEX 1’,
fill in the required fields and under PIC activity, fill in as ‘Training’
Under description of training course, fill in either
Wilton 4 Star intensive Course
(Decorating basics, Flowers and Cake design, Gumpaste and Fondant and Advance Gumpaste Flowers) and/or
PME Masters Intensive Course (Sugarpaste, Sugar Flowers and Royal Icing)
Step 2: Mail the original copies of the 2 forms (‘NEW FORM 33000’ and ‘ANNEX 1’) to
Attention: Corporate Tax Division 55 Newton Road, Revenue House, Singapore 307987
* Note that facsimile or photocopy of the application forms will not be accepted.
* B-I-Y Pte Ltd does not gaurantee that your company request for PIC Grant is approved by IRAS. The course must be applicable to your company in enhancing your employee's job skills and thereby improving your employee's productivity in the area where he/she is employed.
** B-I-Y will be happy to give you details on curriculum of courses and corporate team building event for your application to IRAS, but all applications must be made directly by your company to IRAS.