| S/N | Grant/ Payout | Administering Agency | Purpose of Grant/ Payout | Tax Treatment of Grant/ Payout |
|---|
1 | Productivity and Innovation Credit (PIC) Cash Payout PIC scheme expires after YA 2018 | IRAS | To encourage companies to undertake improvements in productivity and innovation | Not taxable as the payout received is an outcome arising from the conversion of tax benefits (i.e. 400% tax deductions/ allowances) into cash |
2 | PIC Bonus (PIC Bonus is only applicable from YA 2013 to YA 2015) | IRAS | To defray companies' rising operating costs such as wages and rentals; to encourage companies to undertake improvements in productivity and innovation | Taxable as the payout is revenue in nature |
3 | Wage Credit | IRAS | To help companies that may face rising wage costs in a tight labour market | Taxable as the payout is revenue in nature |
4 | Government Paid Leave/ Benefit including: - Adoption leave (AL)
- Child Care leave (GPCL)
- Maternity leave (GPML)
- Maternity benefit (GPMB)
- Paternity leave (GPPL)
- Shared Paternal leave (SPL)
| MOM and CPF Board | To defray companies' operating costs | Taxable as the payout is revenue in nature |
5 | Special Employment Credit (SEC) | CPF Board | To defray companies' operating costs | Taxable as the payout is revenue in nature |
6 | iSPRINT | IMDA | To support SME's use of technology to boost SME's productivity and growth | Taxable as the grant is revenue in nature |
| 7 | Temporary Employment Credit (TEC) | MOM | Employment credit given to help employers cope with higher wage costs arising from CPF changes taking place in 2015 and 2016 ( i.e. increases in CPF contribution rates to the Medisave Account, CPF salary ceiling and employer CPF contribution rates for older workers) | Taxable as the payout is revenue in nature |